Bank Failure
All American Bank
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Closed October 28, 2011 · Des Plaines, IL · FDIC Cert #57759.
- Closing date
- October 28, 2011
- Headquarters
- Des Plaines, IL
- FDIC Certificate
- 57759
- Total assets at closing
- $34.8M
- Total deposits at closing
- $30.5M
- Estimated loss to the insurance fund
- $13.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- International Bank of Chicago
Context
On October 28, 2011, regulators closed All American Bank, headquartered in Des Plaines, IL. At closing, the institution held approximately $34.8M in assets and $30.5M in deposits. The FDIC record names International Bank of Chicago as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $13.8M.
By assets at closing this is the 1921st largest of the 3,526 bank failures in the FDIC record, and the 91st of 92 in 2011. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did All American Bank fail?
All American Bank was closed by regulators on October 28, 2011.
Who acquired All American Bank?
The FDIC record names International Bank of Chicago as the acquiring institution in the resolution of All American Bank.
How big was All American Bank when it failed?
All American Bank had approximately $34.8M in total assets and $30.5M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 21, 2011 | Community Banks of Colorado | $1.28B |
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