Bank Failure
Carolina Federal Savings Bank
BankRegReports is independent of Carolina Federal Savings Bank and never asks for online banking logins or passwords.
Closed June 8, 2012 · Charleston, SC · FDIC Cert #35372.
- Closing date
- June 8, 2012
- Headquarters
- Charleston, SC
- FDIC Certificate
- 35372
- Total assets at closing
- $54.4M
- Total deposits at closing
- $53.1M
- Estimated loss to the insurance fund
- $17.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of North Carolina
Context
On June 8, 2012, regulators closed Carolina Federal Savings Bank, headquartered in Charleston, SC. At closing, the institution held approximately $54.4M in assets and $53.1M in deposits. The FDIC record names Bank of North Carolina as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $17.6M.
By assets at closing this is the 1587th largest of the 3,526 bank failures in the FDIC record, and the 44th of 51 in 2012. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Carolina Federal Savings Bank fail?
Carolina Federal Savings Bank was closed by regulators on June 8, 2012.
Who acquired Carolina Federal Savings Bank?
The FDIC record names Bank of North Carolina as the acquiring institution in the resolution of Carolina Federal Savings Bank.
How big was Carolina Federal Savings Bank when it failed?
Carolina Federal Savings Bank had approximately $54.4M in total assets and $53.1M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
Explore: all failures · SC bank events · 2012 events · events hub