Two institutions closed April 8 & 9; SC Bank and CT Credit Union Are Latest Failures. Beach First National Bank, Myrtle Beach, South Carolina, was closed by the Office of the Comptroller of the Currency. Connecticut Department of Banking assumed control of South End Mutual Benefit Association, Inc., a Bloomfield, CT credit union. This is the fifth federally insured credit union liquidated in 2010. The FDIC estimates the cost to the Deposit Insurance Fund (DIF) will be $130.3 million.”]
Source: https://www.bankinfosecurity.com/two-institutions-closed-april-8-9-a-2401