Bank Failure
First Suburban National Bank
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Closed October 22, 2010 · Maywood, IL · FDIC Cert #16089.
- Closing date
- October 22, 2010
- Headquarters
- Maywood, IL
- FDIC Certificate
- 16089
- Total assets at closing
- $143.5M
- Total deposits at closing
- $135.5M
- Estimated loss to the insurance fund
- $44.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Seaway Bank and Trust Company
Context
On October 22, 2010, regulators closed First Suburban National Bank, headquartered in Maywood, IL. At closing, the institution held approximately $143.5M in assets and $135.5M in deposits. The FDIC record names Seaway Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $44.3M.
By assets at closing this is the 969th largest of the 3,526 bank failures in the FDIC record, and the 106th 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 First Suburban National Bank fail?
First Suburban National Bank was closed by regulators on October 22, 2010.
Who acquired First Suburban National Bank?
The FDIC record names Seaway Bank and Trust Company as the acquiring institution in the resolution of First Suburban National Bank.
How big was First Suburban National Bank when it failed?
First Suburban National Bank had approximately $143.5M in total assets and $135.5M 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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