#BankFailFriday April 9, 2010 - Two Financial Institutions Closed: 1 Bank and 1 Credit Union

Beach First National Bank of Myrtle Beach, South Carolina, was closed Friday, April 9 by the Office of the Comptroller of the Currency. This was the 42nd bank closed for the year.

 

On Thursday, April 8, 2010, the Connecticut Department of Banking closed the South End Mutual Benefit Association, Inc. credit union. The credit union was located in Bloomfield, CT. This was the fifth credit union to be closed this year.

 

The full press releases for the the closed financial institutions follows:

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At liquidation, Kern Central had approximately $34.9 million in assets and served approximately 8,400 members.

The National Credit Union Administration liquidated it, then immediately signed an agreement with Self-Help Federal Credit Union (Self-Help) of Durham, North Carolina, to assume the assets and liabilities of Kern Central.