2014 FDIC Insured Failed Banks |
April 25, 2014:
Allendale County Bank, Fairfax, SC was closed by the South Carolina State
Board of Financial Institutions. The Federal Deposit Insurance
Corporation was named receiver.
Successor Bank: All deposit accounts, including brokered deposits, have been transferred to Palmetto State Bank, Hampton, South Carolina
Palmetto State Bank History: Established in 1933 as Fairfax Bank and Trust CompanyChanged name to Allendale County Bank ► Depositors must establish contact or the successor bank or the FDIC to reclaim their deposits. ► Not every depositor in a failed bank will receive notification from the FDIC, and there are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes. By law, accounts which go unclaimed for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. ► Additionally, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage. ► It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account. ► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Account Search |
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Allendale County Bank SE 200 7th St West Fairfax, SC 29827 |
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Established as Fairfax Bank and Trust Company |
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Cost to FDIC: $17 million |
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