Bank Failure
Town Community Bank and Trust
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Closed January 15, 2010 · Antioch, IL · FDIC Cert #34705.
- Closing date
- January 15, 2010
- Headquarters
- Antioch, IL
- FDIC Certificate
- 34705
- Total assets at closing
- $70.8M
- Total deposits at closing
- $68.3M
- Estimated loss to the insurance fund
- $23.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First American Bank
Context
On January 15, 2010, regulators closed Town Community Bank and Trust, headquartered in Antioch, IL. At closing, the institution held approximately $70.8M in assets and $68.3M in deposits. The FDIC record names First American Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $23.3M.
By assets at closing this is the 1420th largest of the 3,526 bank failures in the FDIC record, and the 133rd of 157 in 2010. 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 Town Community Bank and Trust fail?
Town Community Bank and Trust was closed by regulators on January 15, 2010.
Who acquired Town Community Bank and Trust?
The FDIC record names First American Bank as the acquiring institution in the resolution of Town Community Bank and Trust.
How big was Town Community Bank and Trust when it failed?
Town Community Bank and Trust had approximately $70.8M in total assets and $68.3M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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