Bank Failure
Fayette County Bank
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Closed May 26, 2017 · Saint Elmo, IL · FDIC Cert #1802.
- Closing date
- May 26, 2017
- Headquarters
- Saint Elmo, IL
- FDIC Certificate
- 1802
- Total assets at closing
- $34.4M
- Total deposits at closing
- $34.0M
- Estimated loss to the insurance fund
- $8.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- United Fidelity Bank, FSB
Context
On May 26, 2017, regulators closed Fayette County Bank, headquartered in Saint Elmo, IL. At closing, the institution held approximately $34.4M in assets and $34.0M in deposits. The FDIC record names United Fidelity Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $8.1M.
By assets at closing this is the 1933rd largest of the 3,526 bank failures in the FDIC record, and the 7th of 8 in 2017. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Fayette County Bank fail?
Fayette County Bank was closed by regulators on May 26, 2017.
Who acquired Fayette County Bank?
The FDIC record names United Fidelity Bank, FSB as the acquiring institution in the resolution of Fayette County Bank.
How big was Fayette County Bank when it failed?
Fayette County Bank had approximately $34.4M in total assets and $34.0M in deposits at the time of failure.
Other failures in 2017
| Date | Bank | Assets |
|---|---|---|
| Dec 15, 2017 | Washington Federal Bank for Savings | $166.3M |
| Oct 13, 2017 | The Farmers and Merchants State Bank of Argonia | $33.0M |
| May 5, 2017 | Guaranty Bank | $1.03B |
| Apr 28, 2017 | First NBC Bank | $3.33B |
| Mar 3, 2017 | Proficio Bank | $68.2M |
| Jan 27, 2017 | Seaway Bank and Trust Company | $297.8M |
| Jan 13, 2017 | Harvest Community Bank | $124.2M |
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