Bank Failure
Seaway Bank and Trust Company
BankRegReports is independent of Seaway Bank and Trust Company and never asks for online banking logins or passwords.
Closed January 27, 2017 · Chicago, IL · FDIC Cert #19328.
- Closing date
- January 27, 2017
- Headquarters
- Chicago, IL
- FDIC Certificate
- 19328
- Total assets at closing
- $297.8M
- Total deposits at closing
- $256.5M
- Estimated loss to the insurance fund
- $43.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- State Bank of Texas
Context
On January 27, 2017, regulators closed Seaway Bank and Trust Company, headquartered in Chicago, IL. At closing, the institution held approximately $297.8M in assets and $256.5M in deposits. The FDIC record names State Bank of Texas as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $43.7M.
By assets at closing this is the 560th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 8 in 2017. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Seaway Bank and Trust Company fail?
Seaway Bank and Trust Company was closed by regulators on January 27, 2017.
Who acquired Seaway Bank and Trust Company?
The FDIC record names State Bank of Texas as the acquiring institution in the resolution of Seaway Bank and Trust Company.
How big was Seaway Bank and Trust Company when it failed?
Seaway Bank and Trust Company had approximately $297.8M in total assets and $256.5M in deposits at the time of failure.
Other failures in 2017
| Date | Bank | Assets |
|---|---|---|
| Dec 15, 2017 | Washington Federal Bank for Savings | $166.3M |
| Oct 13, 2017 | The Farmers and Merchants State Bank of Argonia | $33.0M |
| May 26, 2017 | Fayette County Bank | $34.4M |
| May 5, 2017 | Guaranty Bank | $1.03B |
| Apr 28, 2017 | First NBC Bank | $3.33B |
| Mar 3, 2017 | Proficio Bank | $68.2M |
| Jan 13, 2017 | Harvest Community Bank | $124.2M |
Explore: all failures · IL bank events · 2017 events · events hub