Bank Failure
Charter National Bank and Trust
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Closed February 10, 2012 · Hoffman Estates, IL · FDIC Cert #23187.
- Closing date
- February 10, 2012
- Headquarters
- Hoffman Estates, IL
- FDIC Certificate
- 23187
- Total assets at closing
- $93.9M
- Total deposits at closing
- $89.5M
- Estimated loss to the insurance fund
- $18.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Barrington Bank & Trust Company, N.A.
Context
On February 10, 2012, regulators closed Charter National Bank and Trust, headquartered in Hoffman Estates, IL. At closing, the institution held approximately $93.9M in assets and $89.5M in deposits. The FDIC record names Barrington Bank & Trust Company, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $18.5M.
By assets at closing this is the 1239th largest of the 3,526 bank failures in the FDIC record, and the 38th of 51 in 2012. 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 Charter National Bank and Trust fail?
Charter National Bank and Trust was closed by regulators on February 10, 2012.
Who acquired Charter National Bank and Trust?
The FDIC record names Barrington Bank & Trust Company, N.A. as the acquiring institution in the resolution of Charter National Bank and Trust.
How big was Charter National Bank and Trust when it failed?
Charter National Bank and Trust had approximately $93.9M in total assets and $89.5M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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