Friday, October 28, 2011

Bank Failure #85: All American Bank, Des Plaines, Illinois

by Bill McBride on 10/28/2011 07:17:00 PM

All American
International savior.
Done the Chi-Town way.

by Soylent Green is People

From the FDIC: International Bank of Chicago, Chicago, Illinois, Assumes All of the Deposits of All American Bank, Des Plaines, Illinois
As of June 30, 2011, All American Bank had approximately $37.8 million in total assets and $33.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.5 million. ... All American Bank is the 85th FDIC-insured institution to fail in the nation this year, and the ninth in Illinois.
Pretty sad when the All American Bank fails ... oh well, it is Friday!