The Graveyard › Banks › 2010
First National Bank of the South
Spartanburg, SC · failed July 16, 2010 · FDIC certificate 35383
First National Bank of the South of Spartanburg, SC failed on July 16, 2010. It opened on March 27, 2000, 10 years before. At its last report before that it held $619.4 million in assets and $550.9 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 2008, it held $861.4 million. The FDIC estimates that the Deposit Insurance Fund lost $68.3 million on it.
2000-032010-06
Assets at the end$619.4 millionlast report before July 16, 2010
Deposits at the end$550.9 million
Estimated loss to the fund$68.3 millionDIF
Largest in the quarterly reports$861.4 millionJune 30, 2008
Equity to assets1.8%June 30, 2010
Loans not being repaid21.7%noncurrent, June 30, 2010
Return on assets-2.57%a year's rate, June 30, 2010
Staff121full time, June 30, 2010
Also ended in 2010
- Westernbank Puerto Rico · Mayaguez, PR · $10.8 billion in assets
- R-G Premier Bank of Puerto Rico · Hato Rey, PR · $5.7 billion in assets
- La Jolla Bank, FSB · La Jolla, CA · $3.6 billion in assets
- Riverside National Bank of Florida · Fort Pierce, FL · $3.4 billion in assets
- Frontier Bank · Everett, WA · $3.3 billion in assets
- Midwest Bank and Trust Company · Elmwood Park, IL · $3.2 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.