# PREFFERED SAVINGS AND LOAN

> **Failed bank** · HIGH POINT, NC · failed 1991-03-08 · SL · FDIC cost $19M

## What happened

PREFFERED SAVINGS AND LOAN of HIGH POINT, NC was closed by state regulators on **1991-03-08**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **SOUTHERN NB OF NC** (LUMBERTON, NC). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3036
- **FDIC Certificate:** 32340
- **FDIC FIN:** 2122
- **Bank name:** PREFFERED SAVINGS AND LOAN
- **Location:** HIGH POINT, NC
- **Failure date:** 1991-03-08
- **FDIC resolution date:** 1991-09-27
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $19M
- **Deposits at failure:** $175M
- **Assets at failure:** $224M
- **Acquiring bank:** SOUTHERN NB OF NC (LUMBERTON, NC)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PREFFERED%20SAVINGS%20AND%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PREFFERED SAVINGS AND LOAN (FDIC ID 3036), failed 1991-03-08. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3036.

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