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Friday, August 05, 2011

Bank Failure #62: Illinois

by Calculated Risk on 8/05/2011 08:30:00 PM

Bankers, hat in hand
We Shorewood like more money
Heartland, Fed say no.

by Soylent Green is People

From the FDIC: Heartland Bank and Trust Company, Bloomington, Illinois, Assumes All of the Deposits of Bank of Shorewood, Shorewood, Illinois
As of June 30, 2011, Bank of Shorewood had approximately $110.7 million in total assets and $104.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.6 million. ... Bank of Shorewood is the 62nd FDIC-insured institution to fail in the nation this year, and the sixth in Illinois.