Bank failure · SC

Citadel Fs & LA (Charleston, SC) — failed August 7, 1992

Citadel Fs & LA of Charleston, South Carolina was closed on August 7, 1992 and resolved through a purchase and assumption. Carolina First Bank (SC) took over its insured deposits. At failure it held $39.0M in assets and $37.6M in deposits. The FDIC's estimated loss on the failure is $8.8M (22.5% of assets).