Bank Failure
Founders Bank
BankRegReports is independent of Founders Bank and never asks for online banking logins or passwords.
Closed July 2, 2009 · Worth, IL · FDIC Cert #18390.
- Closing date
- July 2, 2009
- Headquarters
- Worth, IL
- FDIC Certificate
- 18390
- Total assets at closing
- $889.2M
- Total deposits at closing
- $832.2M
- Estimated loss to the insurance fund
- $129.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Privatebank and Trust Company
Context
On July 2, 2009, regulators closed Founders Bank, headquartered in Worth, IL. At closing, the institution held approximately $889.2M in assets and $832.2M in deposits. The FDIC record names The Privatebank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $129.5M.
By assets at closing this is the 239th largest of the 3,526 bank failures in the FDIC record, and the 32nd 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 Founders Bank fail?
Founders Bank was closed by regulators on July 2, 2009.
Who acquired Founders Bank?
The FDIC record names The Privatebank and Trust Company as the acquiring institution in the resolution of Founders Bank.
How big was Founders Bank when it failed?
Founders Bank had approximately $889.2M in total assets and $832.2M 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 |
Explore: all failures · IL bank events · 2009 events · events hub