Bank Failure
Superior Bank, FSB
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Closed July 27, 2001 · Hinsdale, IL · FDIC Cert #32646.
- Closing date
- July 27, 2001
- Headquarters
- Hinsdale, IL
- FDIC Certificate
- 32646
- Total assets at closing
- $1.77B
- Total deposits at closing
- $1.61B
- Estimated loss to the insurance fund
- $286.7M
- Insurance fund
- Savings Association Insurance Fund (SAIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Charter One Bank, FSB
Context
On July 27, 2001, regulators closed Superior Bank, FSB, headquartered in Hinsdale, IL. At closing, the institution held approximately $1.77B in assets and $1.61B in deposits. The FDIC record names Charter One Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Savings Association Insurance Fund (SAIF) was approximately $286.7M.
By assets at closing this is the 127th largest of the 3,526 bank failures in the FDIC record, and the 1st of 4 in 2001. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Superior Bank, FSB fail?
Superior Bank, FSB was closed by regulators on July 27, 2001.
Who acquired Superior Bank, FSB?
The FDIC record names Charter One Bank, FSB as the acquiring institution in the resolution of Superior Bank, FSB.
How big was Superior Bank, FSB when it failed?
Superior Bank, FSB had approximately $1.77B in total assets and $1.61B in deposits at the time of failure.
Other failures in 2001
| Date | Bank | Assets |
|---|---|---|
| Sep 7, 2001 | Sinclair National Bank | $29.8M |
| May 3, 2001 | Malta National Bank | $9.1M |
| Feb 2, 2001 | First Alliance Bank and Trust Co | $17.4M |
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