Bank failure · NC

Cardinal Savings Bank (Newport, NC) — failed May 13, 1988

Cardinal Savings Bank of Newport, North Carolina was closed on May 13, 1988 and resolved through a insured deposit transfer. 0 (0) took over its insured deposits. At failure it held $93.9M in assets and $92.8M in deposits. The FDIC's estimated loss on the failure is $27.5M (29.3% of assets).