Bank failure · NC
Heritage Fs & LA (Monroe, NC) — failed March 30, 1989
Heritage Fs & LA of Monroe, North Carolina was closed on March 30, 1989 and resolved through a purchase and assumption. First Citizens B&tc (NC) took over its insured deposits. At failure it held $311.7M in assets and $254.1M in deposits. The FDIC's estimated loss on the failure is $49.2M (15.8% of assets).
- Closing date
- March 30, 1989
- FDIC certificate #
- 30613
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Citizens B&tc
- Insurance fund
- RTC
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