Data / Bank failures / 1991 / Hilton Head Bank & Trust Company
Hilton Head Bank & Trust Company, Hilton Head Island, SC: failed August 30, 1991
Hilton Head Bank & Trust Company in Hilton Head Island, South Carolina, failed on August 30, 1991. The Anchor Bank of Myrtle Beach, SC, took over its deposits. It held $64.6 million in assets and $63 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $20.9 million (32.3% of its assets). By assets it was the 151st largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- August 30, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- The Anchor Bank, Myrtle Beach, SC
- Total assets
- $64,629,000
- Total deposits
- $63,039,000
- Estimated cost to the FDIC
- $20,857,368 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 26273
Other bank failures in South Carolina, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Citadel FS & La | Charleston | August 7, 1992 | $39 million | $37.6 million | $8.8 million | Carolina First Bank |
| Cooper River, Fsa | North Charleston | June 5, 1992 | $228.9 million | $201.4 million | $10.7 million | First Citizens B&TC of SC |
| First South SB | Columbia | April 24, 1992 | $57 million | $48.5 million | $7.5 million | Southtrust Bank of Charlest |
| Standard FS & La | Columbia | August 2, 1991 | $319.7 million | $280.7 million | $2.7 million | NB of South Carolina |
| Security Federal Savings, FSB | Columbia | November 30, 1989 | $759.2 million | $667.3 million | $66.8 million | South Carolina NB |
| Seabank Fed. Savings Bank | Myrtle Beach | April 27, 1989 | $35.4 million | $33.6 million | $5.3 million | First Citizens B&TC of SC |
All bank failures in 1991 · 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.