Bank Failure
Waukegan Savings Bank
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Closed August 3, 2012 · Waukegan, IL · FDIC Cert #28243.
- Closing date
- August 3, 2012
- Headquarters
- Waukegan, IL
- FDIC Certificate
- 28243
- Total assets at closing
- $83.7M
- Total deposits at closing
- $73.0M
- Estimated loss to the insurance fund
- $23.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Midwest Bank
Context
On August 3, 2012, regulators closed Waukegan Savings Bank, headquartered in Waukegan, IL. At closing, the institution held approximately $83.7M in assets and $73.0M in deposits. The FDIC record names First Midwest Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $23.5M.
By assets at closing this is the 1309th largest of the 3,526 bank failures in the FDIC record, and the 39th of 51 in 2012. 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 Waukegan Savings Bank fail?
Waukegan Savings Bank was closed by regulators on August 3, 2012.
Who acquired Waukegan Savings Bank?
The FDIC record names First Midwest Bank as the acquiring institution in the resolution of Waukegan Savings Bank.
How big was Waukegan Savings Bank when it failed?
Waukegan Savings Bank had approximately $83.7M in total assets and $73.0M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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