by Calculated Risk on 4/25/2014 05:35:00 PM

From the FDIC: Palmetto State Bank, Hampton, South Carolina, Assumes All of the Deposits of Allendale County Bank, Fairfax, South Carolina

As of December 31, 2013, Allendale County Bank had approximately $54.5 million in total assets and $51.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.1 million. ... Allendale County Bank is the sixth FDIC-insured institution to fail in the nation this year, and the first in South Carolina.

Does anyone remember bank failures? (this is the first failure since February!)