Friday, September 28, 2012

Bank Failure #43 in 2012: First United Bank, Crete, Illinois

by Calculated Risk on 9/28/2012 07:13:00 PM

Autumnal changes
Green leaves shift from gold to red
As have balance sheets

by Soylent Green is People

From the FDIC: Old Plank Trail Community Bank, National Association, New Lenox, Illinois, Assumes All of the Deposits of First United Bank, Crete, Illinois
As of June 30, 2012, First United Bank had approximately $328.4 million in total assets and $316.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $48.6 million. ... First United Bank is the 43rd FDIC-insured institution to fail in the nation this year, and the seventh in Illinois.
The FDIC has really slowed down!