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
Beware 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.
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