Data / Bank failures / 2009 / Cape Fear Bank
Cape Fear Bank, Wilmington, NC: failed April 10, 2009
Cape Fear Bank in Wilmington, North Carolina, failed on April 10, 2009. First Federal Savings and Loan Association of Charleston of Charleston, SC, took over its deposits. It held $492.4 million in assets and $402.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $118.6 million (24.1% of its assets). By assets it was the 55th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- April 10, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Federal Savings and Loan Association of Charleston, Charleston, SC
- Total assets
- $492,418,000
- Total deposits
- $402,820,000
- Estimated cost to the FDIC
- $118,565,468 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 34639
Other bank failures in North Carolina, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Blue Ridge Savings Bank, Inc. | Asheville | October 14, 2011 | $161.4 million | $159.6 million | $44.1 million | Bank of North Carolina |
| The Bank of Asheville | Asheville | January 21, 2011 | $204.9 million | $199.4 million | $43.9 million | First Bank |
| Cooperative Bank | Wilmington | June 19, 2009 | $966.8 million | $768.5 million | $287.3 million | First Bank |
| Bank of America N.A. (assistance) | Charlotte | January 16, 2009 | $1.47 trillion | $954.68 billion |
All bank failures in 2009 · All bank failures in North Carolina · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.