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Failures by State

Bank Failures in South Carolina

21 FDIC-insured banks headquartered in South Carolina have failed since 1935. The most recent was Allendale County Bank on April 25, 2014. The worst year was 2010, with 4 failures. Failed banks held $4.71B in assets at closing.

21
Failures
1935 to 2014
$4.71B
Failed assets
At closing
$713.9M
Estimated DIF loss
FDIC estimate
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All South Carolina events
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Largest bank failures in South Carolina

Date Bank City Assets Acquirer or resolution
Nov 30, 1989 Security Federal Savings, FSB Columbia $759.2M South Carolina NB
Jul 16, 2010 First National Bank of the South Spartanburg $619.4M Nafh National Bank
Apr 9, 2010 Beach First National Bank Myrtle Beach $590.0M Bank of North Carolina
Apr 27, 2012 Plantation Federal Bank Pawleys Island $433.5M First Federal Bank
Jul 16, 2010 Woodlands Bank Bluffton $382.8M Bank of the Ozarks
Jan 21, 2011 Communitysouth Bank and Trust Easley $341.0M Certus Bank, N.A.
Aug 2, 1991 Standard FS & La Columbia $319.7M NB of South Carolina
Jul 29, 2011 Bankmeridian, N.A. Columbia $232.6M SCBT N.A.
Jun 5, 1992 Cooper River, FSA North Charleston $228.9M First Citizens B&TC of SC
Jun 3, 2011 Atlantic Bank and Trust Charleston $208.2M First Citizens Bank and Trust Company, Inc.

South Carolina bank failures by year

Year Failures Failed assets
2014 1 $49.5M
2012 2 $487.9M
2011 3 $781.8M
2010 4 $1.72B
1999 1 $13.2M
1992 3 $324.8M
1991 2 $384.3M
1989 2 $794.5M
1974 1 $147.1M
1947 1 $762K
1935 1 $149K

Every bank failure in South Carolina

Date Bank City Assets Acquirer or resolution
Apr 25, 2014 Allendale County Bank Fairfax $49.5M Palmetto State Bank
Jun 8, 2012 Carolina Federal Savings Bank Charleston $54.4M Bank of North Carolina
Apr 27, 2012 Plantation Federal Bank Pawleys Island $433.5M First Federal Bank
Jul 29, 2011 Bankmeridian, N.A. Columbia $232.6M SCBT N.A.
Jun 3, 2011 Atlantic Bank and Trust Charleston $208.2M First Citizens Bank and Trust Company, Inc.
Jan 21, 2011 Communitysouth Bank and Trust Easley $341.0M Certus Bank, N.A.
Jul 23, 2010 Williamsburg First National Bank Kingstree $130.4M First Citizens Bank and Trust Company, Inc.
Jul 16, 2010 First National Bank of the South Spartanburg $619.4M Nafh National Bank
Jul 16, 2010 Woodlands Bank Bluffton $382.8M Bank of the Ozarks
Apr 9, 2010 Beach First National Bank Myrtle Beach $590.0M Bank of North Carolina
Mar 26, 1999 Victory State Bank Columbia $13.2M South Carolina Community Ba
Aug 7, 1992 Citadel FS & La Charleston $39.0M Carolina First Bank
Jun 5, 1992 Cooper River, FSA North Charleston $228.9M First Citizens B&TC of SC
Apr 24, 1992 First South SB Columbia $57.0M Southtrust Bank of Charlest
Aug 30, 1991 Hilton Head Bank & Trust Company Hilton Head Island $64.6M The Anchor Bank
Aug 2, 1991 Standard FS & La Columbia $319.7M NB of South Carolina
Nov 30, 1989 Security Federal Savings, FSB Columbia $759.2M South Carolina NB
Apr 27, 1989 Seabank FED. Savings Bank Myrtle Beach $35.4M First Citizens B&TC of SC
Sep 20, 1974 American Bank & Trust Orangeburg $147.1M —
Nov 29, 1947 Peoples Bank of Donalds Donalds $762K —
Mar 9, 1935 Palmetto State Bank Lake City $149K —

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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