Bank Failure
Broadway Bank
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Closed April 23, 2010 · Chicago, IL · FDIC Cert #22853.
- Closing date
- April 23, 2010
- Headquarters
- Chicago, IL
- FDIC Certificate
- 22853
- Total assets at closing
- $1.06B
- Total deposits at closing
- $1.02B
- Estimated loss to the insurance fund
- $377.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- MB Financial Bank, N.A.
Context
On April 23, 2010, regulators closed Broadway Bank, headquartered in Chicago, IL. At closing, the institution held approximately $1.06B in assets and $1.02B in deposits. The FDIC record names MB Financial Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $377.4M.
By assets at closing this is the 197th largest of the 3,526 bank failures in the FDIC record, and the 18th of 157 in 2010. 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 Broadway Bank fail?
Broadway Bank was closed by regulators on April 23, 2010.
Who acquired Broadway Bank?
The FDIC record names MB Financial Bank, N.A. as the acquiring institution in the resolution of Broadway Bank.
How big was Broadway Bank when it failed?
Broadway Bank had approximately $1.06B in total assets and $1.02B in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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