Bank failure · NC

Cape Fear Bank (Wilmington, NC) — failed April 10, 2009

Cape Fear Bank of Wilmington, North Carolina was closed on April 10, 2009 and resolved through a purchase and assumption. First Federal Savings and Loan Association of Charleston (SC) took over its insured deposits. At failure it held $492.4M in assets and $402.8M in deposits. The FDIC's estimated loss on the failure is $118.6M (24.1% of assets).