FIRST NATIONAL BANK OF THE SOUTH Failed 2010
What happened
FIRST NATIONAL BANK OF THE SOUTH of SPARTANBURG, SC was closed on 2010-07-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NAFH NATIONAL BANK (MIAMI, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3829
- FDIC Certificate
- 35383
- FDIC FIN
- 10263
- Bank name
- FIRST NATIONAL BANK OF THE SOUTH
- Location
- SPARTANBURG, SC
- Failure date
- 2010-07-16
- FDIC resolution date
- 2010-07-16
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $68M
- Deposits at failure
- $551M
- Assets at failure
- $619M
- Acquiring bank
- NAFH NATIONAL BANK (MIAMI, FL)
Other banks NAFH NATIONAL BANK acquired in FDIC resolutions