Data / Bank failures / 2012 / Plantation Federal Bank
Plantation Federal Bank, Pawleys Island, SC: failed April 27, 2012
Plantation Federal Bank in Pawleys Island, South Carolina, failed on April 27, 2012. First Federal Bank of Charleston, SC, took over its deposits. It held $433.5 million in assets and $415.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $83.2 million (19.2% of its assets). By assets it was the 9th largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- April 27, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Federal Bank, Charleston, SC
- Total assets
- $433,512,000
- Total deposits
- $415,943,000
- Estimated cost to the FDIC
- $83,229,862 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 32503
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 |
| Carolina Federal Savings Bank | Charleston | June 8, 2012 | $54.4 million | $53.1 million | $17.6 million | Bank of North Carolina |
| 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 |
All bank failures in 2012 · 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.