Friday, December 04, 2009

Bank Failure #129: Benchmark Bank, Aurora, Illinois

by Calculated Risk on 12/04/2009 06:48:00 PM

Benchmark sets new high
(Is "down" the new "up" today?)
Not a wanted prize

by Soylent Green is People

From the FDIC: MB Financial Bank, National Association, Chicago, Illinois, Assumes All of the Deposits of Benchmark Bank, Aurora, Illinois
Benchmark Bank, Aurora, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of November 16, 2009, Benchmark Bank had total assets of approximately $170.0 million and total deposits of approximately $181.0 million....

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64 million. ... Benchmark Bank is the 129th FDIC-insured institution to fail in the nation this year, and the twentieth in Illinois. The last FDIC-insured institution closed in the state was Park National Bank, Chicago, on October 30, 2009.
That makes five today ...