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Friday, October 23, 2009

Bank Failure 106: First Dupage Bank, Westmont, Illinois

by Calculated Risk on 10/23/2009 08:14:00 PM

Seven is lucky
Not quite for 1st DuPage Bank
Cruel roll of the dice.

by Soylent Green is People

From the FDIC:
First Dupage Bank, Westmont, Illinois, was closed today by the Illinois Department of Financial & Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of July 31, 2009, First Dupage Bank had total assets of $279 million and total deposits of approximately $254 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $59 million. .... First Dupage Bank is the 106th FDIC-insured institution to fail in the Nation this year, and the seventeenth in Illinois. The last FDIC-insured institution closed in the state was Corus Bank, Chicago, on September 11, 2009.
When the levee breaks ... seven down today ...