MERIDIAN BANK Failed 2008

ELDRED, IL · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MERIDIAN BANK of ELDRED, IL was closed on 2008-10-10. The FDIC was named receiver.

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

Deposits were transferred to NATIONAL BANK (HILLSBORO, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3569
FDIC Certificate
13789
FDIC FIN
10017
Bank name
MERIDIAN BANK
Location
ELDRED, IL
Failure date
2008-10-10
FDIC resolution date
2008-10-10
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$17M
Deposits at failure
$36M
Assets at failure
$38M
Acquiring bank
NATIONAL BANK (HILLSBORO, IL)