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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Failed Bank Information for Cooperative Bank, Wilmington, NC

On June 19, 2009, Cooperative Bank was closed by the North Carolina Commissioner of Banks. The FDIC was named Receiver. First Bank, Troy, NC acquired all deposit accounts.

The FDIC as Receiver for Cooperative Bank, Wilmington, NC has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on November 8, 2017 and has made all dividend distributions required by law.

Effective March 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination (www.federalregister.gov)

Effective Date: March 1, 2018


Notice of Intent to Terminate (www.federalregister.gov)

Publication Date: November 8, 2017

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: FIRST BANK

About First Bank

All deposit accounts, excluding certain brokered deposits, were transferred to First Bank, Troy, NC ("assuming institution"). Former Cooperative Bank locations reopened as branches of First Bank.

Your transferred deposits were separately insured from any accounts you may have already had at First Bank for at least six months after the failure of Cooperative Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with First Bank as long as the deposits are not pledged as collateral for loans.

Contacting First Bank

You can contact First Bank:

First Bank
300 S.W. Broad Street
Southern Pines, NC 28387

First Bank (www.localfirstbank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (1Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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