CITIZENS NATIONAL BANK AND TRUST Failed 1991

What happened

CITIZENS NATIONAL BANK AND TRUST of CHICAGO, IL was closed on 1991-01-29. The FDIC was named receiver.

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

Deposits were transferred to FIRST BANK OF OAK PARK (OAK PARK, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3002

FDIC Certificate

16428

FDIC FIN

4316

Bank name

CITIZENS NATIONAL BANK AND TRUST

Location

CHICAGO, IL

Failure date

1991-01-29

FDIC resolution date

1991-01-29

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$3M

Deposits at failure

$19M

Assets at failure

$19M

Acquiring bank

FIRST BANK OF OAK PARK (OAK PARK, IL)