Bank Failure
Heritage Community Bank
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Closed February 27, 2009 · Glenwood, IL · FDIC Cert #20078.
- Closing date
- February 27, 2009
- Headquarters
- Glenwood, IL
- FDIC Certificate
- 20078
- Total assets at closing
- $235.2M
- Total deposits at closing
- $225.7M
- Estimated loss to the insurance fund
- $48.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- MB Financial Bank, N.A.
Context
On February 27, 2009, regulators closed Heritage Community Bank, headquartered in Glenwood, IL. At closing, the institution held approximately $235.2M in assets and $225.7M in deposits. The FDIC record names MB Financial Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $48.2M.
By assets at closing this is the 677th largest of the 3,526 bank failures in the FDIC record, and the 75th 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 Heritage Community Bank fail?
Heritage Community Bank was closed by regulators on February 27, 2009.
Who acquired Heritage Community Bank?
The FDIC record names MB Financial Bank, N.A. as the acquiring institution in the resolution of Heritage Community Bank.
How big was Heritage Community Bank when it failed?
Heritage Community Bank had approximately $235.2M in total assets and $225.7M 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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