Bank failure · NC

First Hanover Bank (Wilmington, NC) — failed October 25, 1991

First Hanover Bank of Wilmington, North Carolina was closed on October 25, 1991 and resolved through a purchase and assumption. Central Carolina Bank and T (NC) took over its insured deposits. At failure it held $48.2M in assets and $46.5M in deposits. The FDIC's estimated loss on the failure is $5.7M (11.8% of assets).