Bank Failure
Midwest Bank and Trust Company
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Closed May 14, 2010 · Elmwood Park, IL · FDIC Cert #18117.
- Closing date
- May 14, 2010
- Headquarters
- Elmwood Park, IL
- FDIC Certificate
- 18117
- Total assets at closing
- $3.17B
- Total deposits at closing
- $2.42B
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Firstmerit Bank, N.A.
Context
On May 14, 2010, regulators closed Midwest Bank and Trust Company, headquartered in Elmwood Park, IL. At closing, the institution held approximately $3.17B in assets and $2.42B in deposits. The FDIC record names Firstmerit Bank, N.A. as the acquiring institution in the resolution.
By assets at closing this is the 72nd largest of the 3,526 bank failures in the FDIC record, and the 6th 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 Midwest Bank and Trust Company fail?
Midwest Bank and Trust Company was closed by regulators on May 14, 2010.
Who acquired Midwest Bank and Trust Company?
The FDIC record names Firstmerit Bank, N.A. as the acquiring institution in the resolution of Midwest Bank and Trust Company.
How big was Midwest Bank and Trust Company when it failed?
Midwest Bank and Trust Company had approximately $3.17B in total assets and $2.42B 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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