Bank Failure
The Bank of Commerce
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Closed March 25, 2011 · Wood Dale, IL · FDIC Cert #34292.
- Closing date
- March 25, 2011
- Headquarters
- Wood Dale, IL
- FDIC Certificate
- 34292
- Total assets at closing
- $163.1M
- Total deposits at closing
- $161.4M
- Estimated loss to the insurance fund
- $44.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Advantage National Bank
Context
On March 25, 2011, regulators closed The Bank of Commerce, headquartered in Wood Dale, IL. At closing, the institution held approximately $163.1M in assets and $161.4M in deposits. The FDIC record names Advantage National Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $44.1M.
By assets at closing this is the 887th largest of the 3,526 bank failures in the FDIC record, and the 58th of 92 in 2011. 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 The Bank of Commerce fail?
The Bank of Commerce was closed by regulators on March 25, 2011.
Who acquired The Bank of Commerce?
The FDIC record names Advantage National Bank as the acquiring institution in the resolution of The Bank of Commerce.
How big was The Bank of Commerce when it failed?
The Bank of Commerce had approximately $163.1M in total assets and $161.4M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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