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37th Bank of 2009 to Fail- Illinois’ Bank of Lincolnwood

Fri, 5th June, 2009 - Posted by Joshuah

Bank of Lincolnwood in Lincolnwood, Ill. became the 37th bank of the year to fail and the sixth Illinois bank failure in 2009, according to Federal Deposit Insurance Corp. Friday. Republic Bank of Chicago in Oak Brook, Ill. will assume all the bank’s deposits. As of May 26, Bank of Lincolnwood had total assets of about $214 million and total deposits of $202 million. Republic will purchase about $162 million in assets with FDIC retaining the remaining assets for later disposition

Source/Full Story: MarketWatch

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Category : Economics