Bank failure · SC
Seabank Fed. Savings Bank (Myrtle Beach, SC) — failed April 27, 1989
Seabank Fed. Savings Bank of Myrtle Beach, South Carolina was closed on April 27, 1989 and resolved through a purchase and assumption. First Citizens B&tc of Sc (SC) took over its insured deposits. At failure it held $35.4M in assets and $33.6M in deposits. The FDIC's estimated loss on the failure is $5.3M (15.0% of assets).
- Closing date
- April 27, 1989
- FDIC certificate #
- 32231
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Citizens B&tc of Sc
- Insurance fund
- RTC
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