Data / Bank failures / South Carolina
Bank failures in South Carolina: 21 banks since 1935
21 banks in South Carolina failed between 1935 and 2014, holding $4.71 billion in assets and $4.26 billion in deposits. The FDIC estimates the cost to its insurance fund at $713.9 million. The FDIC also assisted 2 open banks without closing them. The largest: Security Federal Savings, FSB ($759.2 million), First National Bank of the South ($619.4 million), Beach First National Bank ($590 million). By decade: 1930s 1, 1940s 1, 1970s 1, 1980s 4, 1990s 6, 2010s 10.
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| 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 |
| 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 |
| Beach First National Bank | Myrtle Beach | April 9, 2010 | $590 million | $521.1 million | $164.6 million | Bank of North Carolina |
| Victory State Bank | Columbia | March 26, 1999 | $13.2 million | $12.9 million | South Carolina Community Ba | |
| 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 |
| Hilton Head Bank & Trust Company | Hilton Head Island | August 30, 1991 | $64.6 million | $63 million | $20.9 million | The Anchor Bank |
| 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 |
| First State S&LA (assistance) | Spartansburg | October 23, 1986 | $78.8 million | $77.9 million | $64,402 | Poughkeepsie SB FSB |
| First Carolina FS&LA (assistance) | Columbia | October 14, 1983 | $98.3 million | $96.5 million | Omni Savings Bank, FSB | |
| American Bank & Trust | Orangeburg | September 20, 1974 | $147.1 million | $112.7 million | ||
| Peoples Bank of Donalds | Donalds | November 29, 1947 | $762,000 | $713,000 | ||
| Palmetto State Bank | Lake City | March 9, 1935 | $149,000 | $136,000 |
Other states
- Alabama 39
- Alaska 13
- Arizona 44
- Arkansas 45
- California 265
- Colorado 103
- Connecticut 48
- Delaware 4
- District of Columbia 8
- Florida 199
- Georgia 135
- Guam 1
- Hawaii 6
- Idaho 8
- Illinois 229
- Indiana 52
- Iowa 83
- Kansas 124
- Kentucky 47
- Louisiana 167
- Maine 6
- Maryland 36
- Massachusetts 59
- Michigan 46
- Minnesota 81
- Mississippi 38
- Missouri 136
- Montana 19
- Nebraska 54
- Nevada 17
- New Hampshire 20
- New Jersey 112
- New Mexico 32
- New York 104
- North Carolina 30
- North Dakota 43
- Ohio 61
- Oklahoma 183
- Oregon 38
- Pennsylvania 73
- Puerto Rico 17
- Rhode Island 7
- South Dakota 44
- Tennessee 80
- Texas 911
- U.S. Virgin Islands 1
- Utah 30
- Vermont 5
- Virginia 54
- Washington 38
- West Virginia 19
- Wisconsin 51
- Wyoming 29
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.