Data / Bank failures / 2010 / Beach First National Bank
Beach First National Bank, Myrtle Beach, SC: failed April 9, 2010
Beach First National Bank in Myrtle Beach, South Carolina, failed on April 9, 2010. Bank of North Carolina of Thomasville, NC, took over its deposits. It held $590 million in assets and $521.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $164.6 million (27.9% of its assets). By assets it was the 37th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- April 9, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of North Carolina, Thomasville, NC
- Total assets
- $590,024,000
- Total deposits
- $521,138,000
- Estimated cost to the FDIC
- $164,584,754 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- DIF
- FDIC certificate
- 34242
Other bank failures in South Carolina, 2008 to 2012
| 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 |
| Bankmeridian, N.A. | Columbia | July 29, 2011 | $232.6 million | $209.7 million | $49.2 million | SCBT National Association |
| Atlantic Bank and Trust | Charleston | June 3, 2011 | $208.2 million | $191.6 million | $31.2 million | First Citizens Bank and Trust Company, Inc. |
| Communitysouth Bank and Trust | Easley | January 21, 2011 | $341 million | $314.3 million | $45.2 million | Certus Bank, National Association |
| Williamsburg First National Bank | Kingstree | July 23, 2010 | $130.4 million | $127 million | $2.4 million | First Citizens Bank and Trust Company, Inc. |
| First National Bank of the South | Spartanburg | July 16, 2010 | $619.4 million | $550.9 million | $68.3 million | Nafh National Bank |
| Woodlands Bank | Bluffton | July 16, 2010 | $382.8 million | $364.8 million | $107.3 million | Bank of the Ozarks |
Other failed banks Bank of North Carolina took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Carolina Federal Savings Bank | Charleston | SC | June 8, 2012 | $54.4 million | $53.1 million | $17.6 million | Bank of North Carolina |
| Blue Ridge Savings Bank, Inc. | Asheville | NC | October 14, 2011 | $161.4 million | $159.6 million | $44.1 million | Bank of North Carolina |
All bank failures in 2010 · All bank failures in South Carolina · Every failed bank Bank of North Carolina took over · 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.