Regulators shuttered Atlantic Bank and Trust of Charleston Friday, making it the sixth Palmetto State financial institution to be closed over the past two years.
The Office of Thrift Supervision closed Atlantic and appointed the Federal Deposit Insurance Corp. as receiver.
The FDIC then entered into an agreement with First Citizens Bank and Trust Company in which First Citizens would assume all of the deposits of Atlantic Bank and Trust.
The three branches of Atlantic Bank and Trust will reopen on Monday as branches of First Citizens, the largest banking company based in South Carolina.
Since 2009 five financial institutions have been seized by regulators in addition to Atlantic: Easley-based CommunitySouth Bank & Trust; Williamsburg First National Bank of Kingstree; First National Bank of the South, formerly of Spartanburg; Woodlands Bank of Bluffton; and Beach First National Bank of Myrtle Beach.
Rest assured that if Larry Wayne Kelly of Pensacola, Fla., ever gets formal recognition as a “sovereign citizen,” the right to tasty crustaceans on demand will undoubtedly be included in any Bill of Rights he might draw up for his own government.
Kelly, 42, allegedly opened fire with an AK-47 from the window of his pickup truck at a Pensacola-area seafood market last Sunday after learning that they had run out of crawfish.
The Pensacola News Journal reported that Kelly allegedly called the L&T Seafood Market to order crawfish and became “incredibly irate” when an employee said the store didn’t have any, according to a Sheriff’s Office report.
From 4:50 p.m. to 5:20 p.m., Kelly called the market 11 times, according to the business’ caller ID. The later calls went unanswered because the business closed at 5 p.m., investigators said.
Ex-Advance America Chief Executive Ken Compton is no longer the subject of a US Securities and Exchange Commission insider trading investigation, according to the Spartanburg-based company.
Nearly two years ago the finance company reported the SEC that Compton and “certain individuals who are not officers, directors or employees” of Advance America had received Wells Notices.
A Wells Notice is a notification from a regulatory agency that it intends to recommend the start of an enforcement proceeding.
At the time, Advance America said it understood SEC staff planned to recommend a civil injunctive action alleging insider trading, according to the Spartanburg Herald-Journal.