Data / Bank failures / 1989 / Great Atlantic Savings Bank
Great Atlantic Savings Bank, Manteo, NC: failed March 30, 1989
Great Atlantic Savings Bank in Manteo, North Carolina, failed on March 30, 1989. NCNB NB of NC of Charlotte, NC, took over its deposits. It held $126.8 million in assets and $123.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $48.3 million (38.1% of its assets). By assets it was the 194th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- March 30, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- NCNB NB of NC, Charlotte, NC
- Total assets
- $126,807,000
- Total deposits
- $123,803,000
- Estimated cost to the FDIC
- $48,274,705 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 32405
Other bank failures in North Carolina, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Hanover Bank | Wilmington | October 25, 1991 | $48.2 million | $46.5 million | $5.7 million | Central Carolina Bank and T |
| 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 |
| Heritage FS & La | Monroe | March 30, 1989 | $311.7 million | $254.1 million | $49.2 million | First Citizens B&TC |
All bank failures in 1989 · 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.