Bank failure · NC

Cooperative Bank (Wilmington, NC) — failed June 19, 2009

Cooperative Bank of Wilmington, North Carolina was closed on June 19, 2009 and resolved through a purchase and assumption. First Bank (NC) took over its insured deposits. At failure it held $966.8M in assets and $768.5M in deposits. The FDIC's estimated loss on the failure is $287.3M (29.7% of assets).