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Friday, April 23, 2010

Bank Failures #55 - 57: More Illinois

by Calculated Risk on 4/23/2010 08:12:00 PM

The Land Of Lincoln
Good banks are few, far between
Even less so now

by Soylent Green is People

From the FDIC: Northbrook Bank and Trust Company, Northbrook, Illinois, Assumes All of the Deposits of Lincoln Park Savings Bank, Chicago, Illinois
As of December 31, 2009, Lincoln Park Savings Bank had approximately $199.9 million in total assets and $171.5 million in total deposits....

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $48.4 million.... Lincoln Park Savings Bank is the 55th FDIC-insured institution to fail in the nation this year, and the eighth in Illinois. The last FDIC-insured institution closed in the state was New Century Bank, Chicago, earlier today.
From the FDIC: First Midwest Bank, Itasca, Illinois, Assumes All of the Deposits of Peotone Bank and Trust Company, Peotone, Illinois
As of December 31, 2009, Peotone Bank and Trust Company had approximately $130.2 million in total assets and $127.0 million in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.7 million. ... Peotone Bank and Trust Company is the 56th FDIC-insured institution to fail in the nation this year, and the ninth in Illinois. The last FDIC-insured institution closed in the state was Lincoln Park Savings Bank, Chicago, earlier today.
From the FDIC: Wheaton Bank & Trust, Wheaton, Illinois, Assumes All of the Deposits of Wheatland Bank, Naperville, Illinois
As of December 31, 2009, Wheatland Bank had approximately $437.2 million in total assets and $438.5 million in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $133.0 million. ... Wheatland Bank is the 57th FDIC-insured institution to fail in the nation this year, and the tenth in Illinois. The last FDIC-insured institution closed in the state was Peotone Bank and Trust Company, Peotone, earlier today.
Seven in Illinois today ...