Bank Failure
Victory State Bank
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Closed March 26, 1999 · Columbia, SC · FDIC Cert #17200.
- Closing date
- March 26, 1999
- Headquarters
- Columbia, SC
- FDIC Certificate
- 17200
- Total assets at closing
- $13.2M
- Total deposits at closing
- $12.9M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $0 is not consistent with a failure of this size)
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- South Carolina Community Ba
Context
On March 26, 1999, regulators closed Victory State Bank, headquartered in Columbia, SC. At closing, the institution held approximately $13.2M in assets and $12.9M in deposits. The FDIC record names South Carolina Community Ba as the acquiring institution in the resolution.
By assets at closing this is the 2627th largest of the 3,526 bank failures in the FDIC record, and the 8th of 8 in 1999. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Victory State Bank fail?
Victory State Bank was closed by regulators on March 26, 1999.
Who acquired Victory State Bank?
The FDIC record names South Carolina Community Ba as the acquiring institution in the resolution of Victory State Bank.
How big was Victory State Bank when it failed?
Victory State Bank had approximately $13.2M in total assets and $12.9M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Dec 10, 1999 | Golden City Commercial Bank | $87.2M |
| Nov 22, 1999 | Pacific Thrift and Loan Co | $127.3M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Sep 1, 1999 | First NB of Keystone | $1.12B |
| Jul 9, 1999 | East Texas NB of Marshall | $121.6M |
| Jul 9, 1999 | Oceanmark Bank, a FSB | $69.0M |
| Apr 23, 1999 | Zia New Mexico Bank | $17.3M |
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