Bank Failure
UNIVERSAL FSB
Closed June 27, 2002 · CHICAGO, IL · FDIC Cert #29355.
- Closing date
- June 27, 2002
- Headquarters
- CHICAGO, IL
- FDIC Certificate
- 29355
- Total assets at closing
- $51,628,000
- Total deposits at closing
- $40,340,000
- Estimated loss to DIF
- $274,000
- Resolution type
- other
- Acquirer
- CHICAGO COMMUNITY BANK (FDIC Cert #6005)
Context
On June 27, 2002, regulators closed UNIVERSAL FSB, headquartered in CHICAGO, IL. At closing, the institution held approximately $51,628,000 in assets and $40,340,000 in deposits. The FDIC arranged a resolution under which CHICAGO COMMUNITY BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $274,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2002
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2002-12-17 | THE FARMERS BANK & TRUST OF CHENEYVILLE | CHENEYVILLE, LA | $35,317,000 |
| 2002-11-08 | BANK OF ALAMO | ALAMO, TN | $58,454,000 |
| 2002-09-30 | AMTRADE INTERNATIONAL BANK OF GEORGIA | ATLANTA, GA | $92,144,000 |
| 2002-06-26 | CONNECTICUT BANK OF COMMERCE | STAMFORD, CT | $384,172,000 |
| 2002-03-28 | NEW CENTURY BANK | SHELBY TOWNSHIP, MI | $21,091,000 |
| 2002-03-01 | NET FIRST NATIONAL BANK | BOCA RATON, FL | $37,207,000 |
| 2002-02-07 | NEXTBANK | PHOENIX, AZ | $700,180,000 |
| 2002-02-01 | OAKWOOD DEPOSIT BANK | OAKWOOD, OH | $72,267,000 |
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