Bank Failure
Park National Bank
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Closed October 30, 2009 · Chicago, IL · FDIC Cert #11677.
- Closing date
- October 30, 2009
- Headquarters
- Chicago, IL
- FDIC Certificate
- 11677
- Total assets at closing
- $4.68B
- Total deposits at closing
- $3.72B
- Estimated loss to the insurance fund
- $2.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- U.S. Bank, N.A.
Context
On October 30, 2009, regulators closed Park National Bank, headquartered in Chicago, IL. At closing, the institution held approximately $4.68B in assets and $3.72B in deposits. The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $2.8M.
By assets at closing this is the 43rd largest of the 3,526 bank failures in the FDIC record, and the 9th 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 Park National Bank fail?
Park National Bank was closed by regulators on October 30, 2009.
Who acquired Park National Bank?
The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution of Park National Bank.
How big was Park National Bank when it failed?
Park National Bank had approximately $4.68B in total assets and $3.72B 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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