Bank Failure
Citizens National Bank
Closed May 22, 2009 · Macomb, IL · FDIC Cert #5757.
- Closing date
- May 22, 2009
- Headquarters
- Macomb, IL
- FDIC Certificate
- 5757
- Total assets at closing
- $438.6M
- Total deposits at closing
- $393.6M
- Estimated loss to DIF
- $30.3M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Morton Community Bank
Context
On May 22, 2009, regulators closed Citizens National Bank, headquartered in Macomb, IL. At closing, the institution held approximately $438.6M in assets and $393.6M in deposits. The FDIC arranged a resolution under which Morton Community Bank acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $30.3M.
By assets at closing this is the 419th largest of the 3,524 bank failures in the FDIC record, and the 54th of 140 in 2009. 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 Citizens National Bank fail?
Citizens National Bank was closed by regulators on May 22, 2009.
Who acquired Citizens National Bank?
Morton Community Bank acquired the failed bank's deposits and operations on May 22, 2009 under an FDIC-brokered resolution.
How big was Citizens National Bank when it failed?
Citizens National Bank had approximately $438.6M in total assets and $393.6M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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