Bank failure · SC
Allendale County Bank (Fairfax, SC) — failed April 25, 2014
Allendale County Bank of Fairfax, South Carolina was closed on April 25, 2014 and resolved through a purchase and assumption. Palmetto State Bank (SC) took over its insured deposits. At failure it held $49.5M in assets and $49.4M in deposits. The FDIC's estimated loss on the failure is $22.1M (44.7% of assets).
- Closing date
- April 25, 2014
- FDIC certificate #
- 15062
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Palmetto State Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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