Bank failure · NC

First American FSB (Greensboro, NC) — failed June 5, 1992

First American FSB of Greensboro, North Carolina was closed on June 5, 1992 and resolved through a purchase and assumption. Centura Bank (NC) took over its insured deposits. At failure it held $804.3M in assets and $639.1M in deposits. The FDIC's estimated loss on the failure is $35.4M (4.4% of assets).