# SEABANK FED. SAVINGS BANK

> **Failed bank** · MYRTLE BEACH, SC · failed 1989-04-27 · Savings bank · FDIC cost $5M

## What happened

SEABANK FED. SAVINGS BANK of MYRTLE BEACH, SC was closed by state regulators on **1989-04-27**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **FIRST CITIZENS B&TC OF SC** (COLUMBIA, SC). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2365
- **FDIC Certificate:** 32231
- **FDIC FIN:** 6945
- **Bank name:** SEABANK FED. SAVINGS BANK
- **Location:** MYRTLE BEACH, SC
- **Failure date:** 1989-04-27
- **FDIC resolution date:** 1989-12-19
- **Charter type:** Savings bank
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $5M
- **Deposits at failure:** $34M
- **Assets at failure:** $35M
- **Acquiring bank:** FIRST CITIZENS B&TC OF SC (COLUMBIA, SC)

## Other banks FIRST CITIZENS B&TC OF SC has acquired in FDIC resolutions

- COOPER RIVER, FSA (NORTH CHARLESTON, SC) — failed 1992-06-05 — /failed-bank/3335

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SEABANK%20FED.%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SEABANK FED. SAVINGS BANK (FDIC ID 2365), failed 1989-04-27. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/2365.

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