CROWN NATIONAL BANK Failed 1993

What happened

CROWN NATIONAL BANK of CHARLOTTE, NC was closed on 1993-05-20. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to LINCOLN BANK OF NC (LINCOLNTON, NC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3454

FDIC Certificate

32731

FDIC FIN

4578

Bank name

CROWN NATIONAL BANK

Location

CHARLOTTE, NC

Failure date

1993-05-20

FDIC resolution date

1993-05-20

Charter type

National commercial bank (OCC-chartered)

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$2M

Deposits at failure

$25M

Assets at failure

$26M

Acquiring bank

LINCOLN BANK OF NC (LINCOLNTON, NC)