SURETY FS & LA Failed 1991
What happened
SURETY FS & LA of MORGANTON, NC was closed on 1991-07-09. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST CITIZENS B&TC (RALEIGH, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3136
- FDIC Certificate
- 32566
- FDIC FIN
- 1231
- Bank name
- SURETY FS & LA
- Location
- MORGANTON, NC
- Failure date
- 1991-07-09
- FDIC resolution date
- 1993-08-27
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $2M
- Deposits at failure
- $163M
- Assets at failure
- $225M
- Acquiring bank
- FIRST CITIZENS B&TC (RALEIGH, NC)
Other banks FIRST CITIZENS B&TC acquired in FDIC resolutions