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Failed Bank Information for Allendale County Bank, Fairfax, SC

On Friday, April 25, 2014, Allendale County Bank was closed by the South Carolina State Board of Financial Institutions. The FDIC was named Receiver. Palmetto State Bank, Hampton, SC acquired all deposit accounts.

The FDIC as Receiver for Allendale County Bank, Fairfax, SC has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 05, 2019 and has made all dividend distributions required by law.

Effective November 01, 2019, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: November 01, 2019


Notice of Intent to Terminate

Publication Date: February 05, 2019

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

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

caution

Beware of scams!
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: PALMETTO STATE BANK

About Palmetto State Bank

All deposit accounts, including brokered deposits, were transferred to Palmetto State Bank, Hampton, SC ("assuming institution"). Former Allendale County Bank locations reopened as branches of Palmetto State Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Palmetto State Bank for at least six months after the failure of Allendale County Bank.

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

Contacting Palmetto State Bank

You can contact Palmetto State Bank:

Palmetto State Bank
601 First Street W / P O Box 158
Hampton, SC 29924

Palmetto State Bank (www.palmettostatebank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (14.8 Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank