Bank failure · NC
Surety Fs & LA (Morganton, NC) — failed July 9, 1991
Surety Fs & LA of Morganton, North Carolina was closed on July 9, 1991 and resolved through a purchase and assumption. First Citizens B&tc (NC) took over its insured deposits. At failure it held $224.8M in assets and $163.4M in deposits. The FDIC's estimated loss on the failure is $1.8M (0.8% of assets).
- Closing date
- July 9, 1991
- FDIC certificate #
- 32566
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Citizens B&tc
- Insurance fund
- RTC
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