Four Banks Collapse In Four States – 2012 Bank Failures Total 28

After only two bank failures during May, regulators got off to a fast start in June, closing four banks in four different states.  With the financial system in a period of temporary calm, the number of bank closings during 2012 has tapered off from last year’s levels.  While regulators have closed 28 banks thus far […]

Carolina Federal Savings Bank, Charleston, SC, Collapses

The State of South Carolina experienced its second bank failure of the year as regulators closed Carolina Federal Savings Bank, Charleston, SC.  The Office of the Comptroller of the Currency closed the insolvent bank to protect depositors and appointed the FDIC as receiver.  The FDIC entered into a purchase and assumption agreement with Bank of […]