Data / Bank failures / 1991 / Preffered Savings and Loan
Preffered Savings and Loan, High Point, NC: failed March 8, 1991
Preffered Savings and Loan in High Point, North Carolina, failed on March 8, 1991. Southern NB of NC of Lumberton, NC, took over its deposits. It held $224.5 million in assets and $174.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $19.2 million (8.5% of its assets). By assets it was the 84th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- March 8, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Southern NB of NC, Lumberton, NC
- Total assets
- $224,456,000
- Total deposits
- $174,847,000
- Estimated cost to the FDIC
- $19,169,854 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32340
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 |
| 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 |
| 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 2026-10-24. 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.