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Bank Failures

Failed Bank Information for Beach First National Bank, Myrtle Beach, SC

On April 9, 2010, Beach First National Bank was closed by the Office of the Comptroller of the Currency. The FDIC was named Receiver. Bank of North Carolina, Thomasville, NC acquired all deposit accounts.

The FDIC as Receiver for Beach First National Bank, Myrtle Beach, SC has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on September 20, 2017 and has made all dividend distributions required by law.

Effective February 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status: TERMINATED

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Notice of Termination

Effective Date: February 1, 2018
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Notice of Intent to Terminate

Publication Date: September 20, 2017
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Dividend Information

Report on dividends paid
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Press Release

Official press release

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Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: BANK OF NORTH CAROLINA

About Bank of North Carolina

All deposit accounts, excluding certain brokered deposits, were transferred to Bank of North Carolina, Thomasville, NC ("assuming institution"). Former Beach First National Bank locations reopened as branches of Bank of North Carolina.

Your transferred deposits were separately insured from any accounts you may have already had at Bank of North Carolina for at least six months after the failure of Beach First National Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Bank of North Carolina as long as the deposits are not pledged as collateral for loans.

On June 16, 2017, Bank of North Carolina merged with Pinnacle Bank

You can contact Pinnacle Bank:

Pinnacle Bank
150 3rd Avenue, South
Nashville, TN 37201

Pinnacle Bank (www.pnfp.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (1Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Last Updated: February 13, 2018