CAPE FEAR BANK Failed 2009

WILMINGTON, NC · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

CAPE FEAR BANK of WILMINGTON, NC was closed on 2009-04-10. The FDIC was named receiver.

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

Deposits were transferred to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHARLESTON (CHARLESTON, SC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID: 3615
FDIC Certificate: 34639
FDIC FIN: 10049
Bank name: CAPE FEAR BANK
Location: WILMINGTON, NC
Failure date: 2009-04-10
FDIC resolution date: 2009-04-10
Charter type: State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type: Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.): $119M
Deposits at failure: $403M
Assets at failure: $492M
Acquiring bank: FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHARLESTON (CHARLESTON, SC)