For the second time in as many days, South Florida was unable to protect a second half lead, falling 53-49 to Penn State on Sunday in the Hall of Fame Tip-off tournament.
South Florida came into the weekend at 3-0, but lost by two points in overtime to Old Dominion on Saturday.
"Tough, tough weekend for us," Bulls coach Stan Heath said. "Two tough ballgames. In both, with 10 minutes left, we were leading and we didn't finish. We have to become a team that closes better."
Tim Frazier accounted for more than half of Penn State's offense, scoring 27 points as Penn State overcame a sluggish first half.
Blake Nash had 14 points and Toarlyn Fitzpatrick 11 for USF (3-2), which lost forward Augustus Gilchrist to a shoulder injury in the first half.
The Bulls led by six points in the second half before Penn State (4-1) used a 12-1 run, keyed by back-to-back layups from Frazier, and hung on.
Jermaine Marshall's 3-pointer tied it at 43 with just under five minutes to play and Frazier's back-to-back layups, the second coming after he stole the ball in the backcourt, gave Penn State a 47-44 lead.
Penn State led 50-44, before Nash hit a 3-pointer for the Bulls.
But Frazier hit a driving layup to extend the lead back to five.
A layup by Nash made it 53-49 with 22 seconds left and the Bulls missed three 3-pointers in the final seconds.
Gilchrist, who came in averaging more than 14 points for the Bulls, was 0-for-4 before leaving the game with a shoulder injury after taking a hard foul with just more than five minutes to play in the half. He missed his first foul shot then left the game and went to the locker room.
He came back after halftime with an ice bag on his shoulder.
"We'll know a little bit more about Gilchrist when we get home," Heath said.