Bank Failure
First Chicago Bank & Trust
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Closed July 8, 2011 · Chicago, IL · FDIC Cert #27935.
- Closing date
- July 8, 2011
- Headquarters
- Chicago, IL
- FDIC Certificate
- 27935
- Total assets at closing
- $896.9M
- Total deposits at closing
- $830.5M
- Estimated loss to the insurance fund
- $192.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Northbrook Bank and Trust Company
Context
On July 8, 2011, regulators closed First Chicago Bank & Trust, headquartered in Chicago, IL. At closing, the institution held approximately $896.9M in assets and $830.5M in deposits. The FDIC record names Northbrook Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $192.9M.
By assets at closing this is the 235th largest of the 3,526 bank failures in the FDIC record, and the 9th 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 First Chicago Bank & Trust fail?
First Chicago Bank & Trust was closed by regulators on July 8, 2011.
Who acquired First Chicago Bank & Trust?
The FDIC record names Northbrook Bank and Trust Company as the acquiring institution in the resolution of First Chicago Bank & Trust.
How big was First Chicago Bank & Trust when it failed?
First Chicago Bank & Trust had approximately $896.9M in total assets and $830.5M 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 28, 2011 | All American Bank | $34.8M |
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