Bank Failure
The Rochelle BK & TR Co.
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Closed October 11, 1980 · Rochelle, IL · FDIC Cert #17762.
- Closing date
- October 11, 1980
- Headquarters
- Rochelle, IL
- FDIC Certificate
- 17762
- Total assets at closing
- $8.4M
- Total deposits at closing
- $7.6M
- Estimated loss to the insurance fund
- $778K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- United Bank of Rochelle
Context
On October 11, 1980, regulators closed The Rochelle BK & TR Co., headquartered in Rochelle, IL. At closing, the institution held approximately $8.4M in assets and $7.6M in deposits. The FDIC record names United Bank of Rochelle as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $778K.
By assets at closing this is the 2846th largest of the 3,526 bank failures in the FDIC record, and the 7th of 10 in 1980. 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 Rochelle BK & TR Co. fail?
The Rochelle BK & TR Co. was closed by regulators on October 11, 1980.
Who acquired The Rochelle BK & TR Co.?
The FDIC record names United Bank of Rochelle as the acquiring institution in the resolution of The Rochelle BK & TR Co.
How big was The Rochelle BK & TR Co. when it failed?
The Rochelle BK & TR Co. had approximately $8.4M in total assets and $7.6M in deposits at the time of failure.
Other failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 16, 1980 | Mohawk BK & TR Co. | $5.9M |
| Feb 12, 1980 | First National BK of Carrington | $12.4M |
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