Bank failure · SC
Beach First National Bank (Myrtle Beach, SC) — failed April 9, 2010
Beach First National Bank of Myrtle Beach, South Carolina was closed on April 9, 2010 and resolved through a purchase and assumption. Bank of North Carolina (NC) took over its insured deposits. At failure it held $590.0M in assets and $521.1M in deposits. The FDIC's estimated loss on the failure is $164.6M (27.9% of assets).
- Closing date
- April 9, 2010
- FDIC certificate #
- 34242
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of North Carolina
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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