Another Wilmington bank eated

On the heels of the resignation of its chairman, Cooperative Bank of Wilmington makes the FDIC’s failed bank list.
From the FDIC page:

III. Acquiring Financial Institution
All deposit accounts, excluding certain brokered deposits have been transferred to First Bank, Troy, NC (“assuming institution”) and will be available immediately. On Monday, June 22, 2009, the former Cooperative Bank locations will reopen as branches of First Bank.

Your transferred deposits will be separately insured from any accounts you may already have at First Bank for six months after the failure of Cooperative Bank. Checks that were drawn on Cooperative Bank that did not clear before the institution closed will be honored as long as there are sufficient funds in the account. You may speak to an FDIC representative regarding deposit insurance by calling: 1-800-930-5169 or visit EDIE the FDIC’s Electronic Deposit Insurance Estimator.