Data / Bank failures / 2012 / Carolina Federal Savings Bank
Carolina Federal Savings Bank, Charleston, SC: failed June 8, 2012
Carolina Federal Savings Bank in Charleston, South Carolina, failed on June 8, 2012. Bank of North Carolina of Thomasville, NC, took over its deposits. It held $54.4 million in assets and $53.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $17.6 million (32.4% of its assets). By assets it was the 44th largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- June 8, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of North Carolina, Thomasville, NC
- Total assets
- $54,373,000
- Total deposits
- $53,082,000
- Estimated cost to the FDIC
- $17,629,773 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 35372
Other bank failures in South Carolina, 2010 to 2014
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Allendale County Bank | Fairfax | April 25, 2014 | $49.5 million | $49.4 million | $22.1 million | Palmetto State Bank |
| 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 |
|---|---|---|---|---|---|---|---|
| Blue Ridge Savings Bank, Inc. | Asheville | NC | October 14, 2011 | $161.4 million | $159.6 million | $44.1 million | Bank of North Carolina |
| Beach First National Bank | Myrtle Beach | SC | April 9, 2010 | $590 million | $521.1 million | $164.6 million | Bank of North Carolina |
All bank failures in 2012 · 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.