Friday, August 06, 2010

Bank Failure #109: Ravenswood Bank, Chicago, Illinois

by Calculated Risk on 8/06/2010 07:05:00 PM

Earlier employment posts today (with many graphs):

  • July Employment Report: 12K Jobs ex-Census, 9.5% Unemployment Rate for graphs of unemployment rate and a comparison to previous recessions.
  • Employment-Population Ratio, Part Time Workers, Unemployed over 26 Weeks
  • Employment Report: Temporary Help and Diffusion Index
    Losses to behold,
    Quoth the Raven, nevermore!
    One can only hope.

    by Soylent Green is People

    From the FDIC: Northbrook Bank and Trust Company, Northbrook, Illinois, Assumes All of the Deposits of Ravenswood Bank, Chicago, Illinois
    As of June 30, 2010, Ravenswood Bank had approximately $264.6 million in total assets and $269.5 million in total deposits.
    ...
    The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $68.1 million. ... Ravenswood Bank is the 109th FDIC-insured institution to fail in the nation this year, and the thirteenth in Illinois. The last FDIC-insured institution closed in the state was Arcola Homestead Savings Bank, Arcola, on June 4, 2010.