Bank Failure
Allendale County Bank
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Closed April 25, 2014 · Fairfax, SC · FDIC Cert #15062.
- Closing date
- April 25, 2014
- Headquarters
- Fairfax, SC
- FDIC Certificate
- 15062
- Total assets at closing
- $49.5M
- Total deposits at closing
- $49.4M
- Estimated loss to the insurance fund
- $22.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Palmetto State Bank
Context
On April 25, 2014, regulators closed Allendale County Bank, headquartered in Fairfax, SC. At closing, the institution held approximately $49.5M in assets and $49.4M in deposits. The FDIC record names Palmetto State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $22.1M.
By assets at closing this is the 1666th largest of the 3,526 bank failures in the FDIC record, and the 15th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Allendale County Bank fail?
Allendale County Bank was closed by regulators on April 25, 2014.
Who acquired Allendale County Bank?
The FDIC record names Palmetto State Bank as the acquiring institution in the resolution of Allendale County Bank.
How big was Allendale County Bank when it failed?
Allendale County Bank had approximately $49.5M in total assets and $49.4M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 25, 2014 | Greenchoice Bank, FSB | $70.3M |
| Jul 18, 2014 | Eastside Commercial Bank | $173.9M |
| Jun 27, 2014 | The Freedom State Bank | $22.8M |
| Jun 20, 2014 | Valley Bank | $456.4M |
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