Data / Bank failures / 2014 / Allendale County Bank
Allendale County Bank, Fairfax, SC: failed April 25, 2014
Allendale County Bank in Fairfax, South Carolina, failed on April 25, 2014. Palmetto State Bank of Hampton, SC, took over its deposits. It held $49.5 million in assets and $49.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.1 million (44.7% of its assets). By assets it was the 15th largest of 18 banks closed or assisted in 2014.
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The FDIC's record
- Closed
- April 25, 2014
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Palmetto State Bank, Hampton, SC
- Total assets
- $49,498,000
- Total deposits
- $49,356,000
- Estimated cost to the FDIC
- $22,149,155 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 15062
Other bank failures in South Carolina, 2012 to 2016
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Carolina Federal Savings Bank | Charleston | June 8, 2012 | $54.4 million | $53.1 million | $17.6 million | Bank of North Carolina |
| Plantation Federal Bank | Pawleys Island | April 27, 2012 | $433.5 million | $415.9 million | $83.2 million | First Federal Bank |
All bank failures in 2014 · All bank failures in South Carolina · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.