(Crain’s) — Strategic Capital Bank in Champaign on Friday became the fourth financial institution in the state to fail.
The bank was closed by the Illinois Department of Financial and Professional Regulation. The Federal Deposit Insurance Corp. was appointed as receiver.
Midland States Bank of Effingham will assume all the deposits of Strategic Capital Bank. Strategic will reopen Tuesday as a branch of Midland States Bank.
Customers of both banks should continue to use existing branches until Midland States Bank can integrate deposit records of Strategic Capital Bank, the FDIC said in a statement.
SAN FRANCISCO -- Macomb, Ill.-based Citizens National Bank was closed by regulators, the 36th bank failure of the year and the second Illinois closure announced on Friday, according to the the Federal Deposit Insurance Corp. Morton, Ill.-based Morton Community Bank has agreed to assume the failed bank's deposits, the FDIC said. Citizens National had roughly $400 million in deposits as of May 13, and $437 million in assets, the FDIC said.
mahalo guy Demolition Man
Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu
View next topic View previous topic
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
