Friday, March 25, 2011

Bank Failure #26 in 2011: The Bank of Commerce, Wood Dale, Illinois

by Calculated Risk on 3/25/2011 07:07:00 PM

Irresponsible:
Behavior resulting in
No consequences.

by Soylent Green is People

From the FDIC: Advantage National Bank Group, Elk Grove Village, Illinois, Assumes All of the Deposits of The Bank of Commerce, Wood Dale, Illinois
As of December 31, 2010, The Bank of Commerce had approximately $163.1 million in total assets and $161.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.9 million. ... The Bank of Commerce is the 26th FDIC-insured institution to fail in the nation this year, and the third in Illinois
Friday is here.