Bank Failure
The Des Plaines Bank
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Closed March 14, 1981 · Des Plaines, IL · FDIC Cert #18373.
- Closing date
- March 14, 1981
- Headquarters
- Des Plaines, IL
- FDIC Certificate
- 18373
- Total assets at closing
- $46.5M
- Total deposits at closing
- $42.9M
- Estimated loss to the insurance fund
- $1.1M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On March 14, 1981, regulators closed The Des Plaines Bank, headquartered in Des Plaines, IL. At closing, the institution held approximately $46.5M in assets and $42.9M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the FDIC insurance fund was approximately $1.1M.
By assets at closing this is the 1715th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 9 in 1981. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did The Des Plaines Bank fail?
The Des Plaines Bank was closed by regulators on March 14, 1981.
How big was The Des Plaines Bank when it failed?
The Des Plaines Bank had approximately $46.5M in total assets and $42.9M in deposits at the time of failure.
Other failures in 1981
| Date | Bank | Assets |
|---|---|---|
| Oct 30, 1981 | Midtown National Bank | $10.6M |
| Oct 23, 1981 | High Lakes Community Bank | $3.7M |
| Sep 25, 1981 | Southwestern Bank | $5.3M |
| Sep 8, 1981 | First FS&LA of Rochester | $1.20B |
| Jun 19, 1981 | Northwest Commerce Bank | $6.7M |
| May 18, 1981 | Economy S&LA | $73.9M |
| Mar 17, 1981 | Peoples Banking Company | $8.4M |
| Mar 14, 1981 | South Side Bank | $27.5M |
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