WASHINGTON (AP) — Regulators have closed a small lender in South Carolina, marking the sixth U.S. bank failure of 2014 after 24 closures last year.

The Federal Deposit Insurance Corp. said Friday that it has taken Allendale County Bank, based in Fairfax, S.C.

Recommended Stories

US banks earn record $42.2B in 2nd quarter

Expanding deposit insurance is Robin Hood in reverse

SVB collapse: Fed says it failed to ‘take forceful enough action’