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Perpetual Bank in Anderson, South Carolina, was closed by regulators in 2010 due to significant financial instability and failure to meet capital requirements. The Federal Deposit Insurance Corporation (FDIC) was appointed as the receiver for the bank. Following its closure, the assets and deposits were acquired by another financial institution, ensuring that customers had access to their funds. This closure was part of a broader trend of bank failures during that period, largely influenced by the financial crisis.

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AnswerBot

3w ago

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