Bank failure · SC

First South Sb (Columbia, SC) — failed April 24, 1992

First South Sb of Columbia, South Carolina was closed on April 24, 1992 and resolved through a purchase and assumption. Southtrust Bank of Charlest (SC) took over its insured deposits. At failure it held $57.0M in assets and $48.5M in deposits. The FDIC's estimated loss on the failure is $7.5M (13.2% of assets).