21 failures since 1934 · $714 million estimated loss
Bank failures in South Carolina
South Carolina has 21 bank failures on FDIC record since 1934, 0.6% of the national total and the 39th-highest count of any state or territory. The worst year was 2010, with 4. Since 2000 there have been 10; the most recent was Allendale County Bank on April 25, 2014. The largest by assets was Security Federal Savings Bank of Columbia, with $759 million, in 1989.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| April 25, 2014 | Allendale County Bank | Fairfax, SC | $49.5 million | $22.1 million |
| June 8, 2012 | Carolina Federal Savings Bank | Charleston, SC | $54.4 million | $17.6 million |
| April 27, 2012 | Plantation Federal Bank | Pawleys Island, SC | $434 million | $83.2 million |
| July 29, 2011 | BankMeridian, N.A. | Columbia, SC | $233 million | $49.2 million |
| June 3, 2011 | Atlantic Bank and Trust | Charleston, SC | $208 million | $31.2 million |
| January 21, 2011 | CommunitySouth Bank and Trust | Easley, SC | $341 million | $45.2 million |
| July 23, 2010 | Williamsburg First National Bank | Kingstree, SC | $130 million | $2.4 million |
| July 16, 2010 | Woodlands Bank | Bluffton, SC | $383 million | $107 million |
| July 16, 2010 | First National Bank of the South | Spartanburg, SC | $619 million | $68.3 million |
| April 9, 2010 | Beach First National Bank | Myrtle Beach, SC | $590 million | $165 million |
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| March 26, 1999 | Victory State Bank | Columbia, SC | $13.2 million | none |
| August 7, 1992 | Citadel Federal Savings Bank | Charleston, SC | $39.0 million | $8.8 million |
| June 5, 1992 | Cooper River Federal Savings Bank | North Charleston, SC | $229 million | $10.7 million |
| April 24, 1992 | First South Savings Bank | Columbia, SC | $57.0 million | $7.5 million |
| August 30, 1991 | Hilton Head Bank & Trust Company, National Association | Hilton Head Island, SC | $64.6 million | $20.9 million |
| August 2, 1991 | Standard Federal Savings Bank | Columbia, SC | $320 million | $2.7 million |
| November 30, 1989 | Security Federal Savings Bank | Columbia, SC | $759 million | $66.8 million |
| April 27, 1989 | Seabank Savings, FSB | Myrtle Beach, SC | $35.4 million | $5.3 million |
| September 20, 1974 | American Bank & Trust | Orangeburg, SC | $147 million | not estimated |
| November 29, 1947 | Peoples Bank of Donalds | Donalds, SC | $762 thousand | not estimated |
| March 9, 1935 | Palmetto State Bank | Lake City, SC | $149 thousand | not estimated |