FIRST SOUTH SB Failed 1992
What happened
FIRST SOUTH SB of COLUMBIA, SC was closed on 1992-04-24. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTHTRUST BANK OF CHARLEST (CHARLESTON, SC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3315
- FDIC Certificate
- 32186
- FDIC FIN
- 1237
- Bank name
- FIRST SOUTH SB
- Location
- COLUMBIA, SC
- Failure date
- 1992-04-24
- FDIC resolution date
- 1993-09-24
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $8M
- Deposits at failure
- $49M
- Assets at failure
- $57M
- Acquiring bank
- SOUTHTRUST BANK OF CHARLEST (CHARLESTON, SC)