INDUSTRIAL NATIONAL BANK OF EAST CHICAGO Failed 1986

EAST CHICAGO, IN · National commercial bank (OCC-chartered) · view on FDIC BankFind ↗

What happened

INDUSTRIAL NATIONAL BANK OF EAST CHICAGO of EAST CHICAGO, IN was closed on 1986-04-03. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to MERCANTILE NB OF INDIANA (HAMMOND, IN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
1171
FDIC Certificate
22774
FDIC FIN
2546
Bank name
INDUSTRIAL NATIONAL BANK OF EAST CHICAGO
Location
EAST CHICAGO, IN
Failure date
1986-04-03
FDIC resolution date
1986-04-03
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$1M
Deposits at failure
$8M
Assets at failure
$8M
Acquiring bank
MERCANTILE NB OF INDIANA (HAMMOND, IN)