Bank failure · SC
Atlantic Bank and Trust (Charleston, SC) — failed June 3, 2011
Atlantic Bank and Trust of Charleston, South Carolina was closed on June 3, 2011 and resolved through a purchase and assumption. First Citizens Bank and Trust Company, Inc. (SC) took over its insured deposits. At failure it held $208.2M in assets and $191.6M in deposits. The FDIC's estimated loss on the failure is $31.2M (15.0% of assets).
- Closing date
- June 3, 2011
- FDIC certificate #
- 58420
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Citizens Bank and Trust Company, Inc.
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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