Data / Bank failures / 1991 / First Hanover Bank
First Hanover Bank, Wilmington, NC: failed October 25, 1991
First Hanover Bank in Wilmington, North Carolina, failed on October 25, 1991. Central Carolina Bank and T of Durham, NC, took over its deposits. It held $48.2 million in assets and $46.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.7 million (11.8% of its assets). By assets it was the 173rd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- October 25, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Central Carolina Bank and T, Durham, NC
- Total assets
- $48,212,000
- Total deposits
- $46,547,000
- Estimated cost to the FDIC
- $5,703,640 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 26561
Other bank failures in North Carolina, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Crown National Bank | Charlotte | May 20, 1993 | $26.3 million | $24.8 million | $1.7 million | Lincoln Bank of NC |
| First American FSB | Greensboro | June 5, 1992 | $804.3 million | $639.1 million | $35.4 million | Centura Bank |
| Surety FS & La | Morganton | July 9, 1991 | $224.8 million | $163.4 million | $1.8 million | First Citizens B&TC |
| Preffered Savings and Loan | High Point | March 8, 1991 | $224.5 million | $174.8 million | $19.2 million | Southern NB of NC |
| First Federal Savings | Raleigh | December 7, 1990 | $520.4 million | $427.5 million | $55.7 million | |
| Southeastern Savings Bank | Charlotte | November 16, 1990 | $422.3 million | $367.6 million | $23.6 million | |
| Guaranty Savings Bank FSB | Fayetteville | July 27, 1990 | $53.9 million | $49.9 million | $8.5 million | |
| North Carolina FS & La | Charlotte | March 2, 1990 | $628.1 million | $455 million | $41.8 million | First Citizens B&TC |
All bank failures in 1991 · 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.