ATLANTIC BANK AND TRUST Failed 2011
What happened
ATLANTIC BANK AND TRUST of CHARLESTON, SC was closed on 2011-06-03. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST CITIZENS BANK AND TRUST COMPANY, INC. (COLUMBIA, SC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3935
- FDIC Certificate
- 58420
- FDIC FIN
- 10369
- Bank name
- ATLANTIC BANK AND TRUST
- Location
- CHARLESTON, SC
- Failure date
- 2011-06-03
- FDIC resolution date
- 2011-06-03
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $31M
- Deposits at failure
- $192M
- Assets at failure
- $208M
- Acquiring bank
- FIRST CITIZENS BANK AND TRUST COMPANY, INC. (COLUMBIA, SC)
Other banks FIRST CITIZENS BANK AND TRUST COMPANY, INC. acquired in FDIC resolutions