Data / Bank failures / 2011 / The Bank of Asheville
The Bank of Asheville, Asheville, NC: failed January 21, 2011
The Bank of Asheville in Asheville, North Carolina, failed on January 21, 2011. First Bank of Troy, NC, took over its deposits. It held $204.9 million in assets and $199.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $43.9 million (21.4% of its assets). By assets it was the 45th largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- January 21, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Bank, Troy, NC
- Total assets
- $204,925,000
- Total deposits
- $199,394,000
- Estimated cost to the FDIC
- $43,944,583 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 34516
Other bank failures in North Carolina, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Pisgah Community Bank | Asheville | May 10, 2013 | $21.9 million | $21.2 million | $7.9 million | Capital Bank, National Association |
| Parkway Bank | Lenoir | April 26, 2013 | $109.6 million | $104.7 million | $16.5 million | Certusbank, National Association |
| Waccamaw Bank | Whiteville | June 8, 2012 | $533.1 million | $472.7 million | $23.8 million | First Community Bank |
| Blue Ridge Savings Bank, Inc. | Asheville | October 14, 2011 | $161.4 million | $159.6 million | $44.1 million | Bank of North Carolina |
| Cooperative Bank | Wilmington | June 19, 2009 | $966.8 million | $768.5 million | $287.3 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 |
|---|---|---|---|---|---|---|---|
| Cooperative Bank | Wilmington | NC | June 19, 2009 | $966.8 million | $768.5 million | $287.3 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 2011 · 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.