Bank failure · NC

Preffered Savings and Loan (High Point, NC) — failed March 8, 1991

Preffered Savings and Loan of High Point, North Carolina was closed on March 8, 1991 and resolved through a purchase and assumption. Southern Nb of Nc (NC) took over its insured deposits. At failure it held $224.5M in assets and $174.8M in deposits. The FDIC's estimated loss on the failure is $19.2M (8.5% of assets).