COOPERATIVE BANK Failed 2009
What happened
COOPERATIVE BANK of WILMINGTON, NC was closed on 2009-06-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST BANK (TROY, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3632
- FDIC Certificate
- 27837
- FDIC FIN
- 10065
- Bank name
- COOPERATIVE BANK
- Location
- WILMINGTON, NC
- Failure date
- 2009-06-19
- FDIC resolution date
- 2009-06-19
- 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.)
- $287M
- Deposits at failure
- $768M
- Assets at failure
- $967M
- Acquiring bank
- FIRST BANK (TROY, NC)
Other banks FIRST BANK acquired in FDIC resolutions
- THE BANK OF ASHEVILLE (ASHEVILLE, NC) — failed 2011-01-21
- BUCHEL BANK & TRUST CO. (CUERO, TX) — failed 1991-08-22
- FARMERS STATE BANK OF MADISONVILLLE (MADISONVILLE, TX) — failed 1990-11-29
- CITIZENS NATIONAL BANK (EL CAMPO, TX) — failed 1990-08-30
- FARMERS STATE BANK OF BROOKSHIRE (BROOKSHIRE, TX) — failed 1990-05-24
- FARMERS STATE BANK (SCHULENBERG, TX) — failed 1990-03-08
- FIRST STATE BANK OF MCKINNEY (MCKINNEY, TX) — failed 1989-08-17
- KATY NATIONAL BANK (KATY, TX) — failed 1989-05-04
- FIRST CAPITOL BANK (WEST COLUMBIA, TX) — failed 1988-07-28
- THE FIRST NATIONAL BANK OF NAVASOTA (NAVASOTA, TX) — failed 1987-08-13