Data / Bank failures / 2009 / Cooperative Bank
Cooperative Bank, Wilmington, NC: failed June 19, 2009
Cooperative Bank in Wilmington, North Carolina, failed on June 19, 2009. First Bank of Troy, NC, took over its deposits. It held $966.8 million in assets and $768.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $287.3 million (29.7% of its assets). By assets it was the 38th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- June 19, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Bank, Troy, NC
- Total assets
- $966,778,000
- Total deposits
- $768,479,000
- Estimated cost to the FDIC
- $287,345,282 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 27837
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 |
| Cape Fear Bank | Wilmington | April 10, 2009 | $492.4 million | $402.8 million | $118.6 million | First Federal Savings and Loan Association of Charleston |
| Bank of America N.A. (assistance) | Charlotte | January 16, 2009 | $1.47 trillion | $954.68 billion |
Other failed banks First Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Bank of Asheville | Asheville | NC | January 21, 2011 | $204.9 million | $199.4 million | $43.9 million | First Bank |
| Buchel Bank & Trust Co. | Cuero | TX | August 22, 1991 | $25 million | $24.8 million | $1.3 million | First Bank |
| Farmers State Bank of Madisonvillle | Madisonville | TX | November 29, 1990 | $34.8 million | $34.6 million | $1.6 million | First Bank |
| Citizens National Bank | El Campo | TX | August 30, 1990 | $51.3 million | $53.2 million | $10.2 million | First Bank |
| Farmers State Bank of Brookshire | Brookshire | TX | May 24, 1990 | $19.4 million | $19.6 million | $3.3 million | First Bank |
| Farmers State Bank | Schulenberg | TX | March 8, 1990 | $32.7 million | $33.4 million | $6.7 million | First Bank |
| First State Bank of McKinney | McKinney | TX | August 17, 1989 | $18.1 million | $20.2 million | $3.7 million | First Bank |
| Katy National Bank | Katy | TX | May 4, 1989 | $52 million | $55.3 million | $17.8 million | First Bank |
All bank failures in 2009 · All bank failures in North Carolina · Every failed bank First Bank took over · 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.