A Pawleys Island-based based bank that shut down Friday has opened under a new name.

The Office of the Comptroller of the Currency closed Plantation Federal Bank Friday, which includes First Savers Bank branches.

The Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

All deposit accounts have been transferred to First Federal Bank of Charleston.

Click here for more information on First Federal Bank. http://www.firstfederal.com/Default.asp?bhcp