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Article: First Bancorp Acquires Cooperative Bank Assets From FDIC.
- Article from:
- Investrend
- Article date:
- June 22, 2009
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Jun 22, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/06/22/first-bancorp-acquires-cooperative-bank-assets-from-fdic/)
June 22, 2009 (FinancialWire) -- First Bancorp (NASDAQ: FBNC) said that its First Bank subsidiary has entered into a purchase and assumption agreement with the Federal Deposit Insurance Corp. to acquire all deposits (except certain brokered deposits) and borrowings, and substantially all of the assets of Cooperative Bank and its subsidiary, Lumina Mortgage.
The FDIC is acting as receiver for Cooperative Bank of Wilmington, North Carolina. On June 19, The North Carolina Commissioner of ...