Data / Bank failures / 1987 / Surety FS&LA
Surety FS&LA, Morganton, NC: received FDIC assistance December 11, 1987
Surety FS&LA in Morganton, North Carolina, received open bank assistance from the FDIC on December 11, 1987. It held $124.9 million in assets and $111.5 million in deposits at its last report. By assets it was the 44th largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- December 11, 1987
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Surety FS&LA Fsa, Morganton, NC
- Total assets
- $124,871,000
- Total deposits
- $111,495,000
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 30411
Other bank failures in North Carolina, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Great Atlantic Savings Bank | Manteo | March 30, 1989 | $126.8 million | $123.8 million | $48.3 million | NCNB NB of NC |
| Heritage FS & La | Monroe | March 30, 1989 | $311.7 million | $254.1 million | $49.2 million | First Citizens B&TC |
| Cardinal Savings Bank | Newport | May 13, 1988 | $93.9 million | $92.8 million | $27.5 million |
All bank failures in 1987 · 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.