MUTUAL BANK Failed 2009
What happened
MUTUAL BANK of HARVEY, IL was closed on 2009-07-31. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNITED CENTRAL BANK (GARLAND, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3659
- FDIC Certificate
- 18659
- FDIC FIN
- 10094
- Bank name
- MUTUAL BANK
- Location
- HARVEY, IL
- Failure date
- 2009-07-31
- FDIC resolution date
- 2009-07-31
- 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.)
- $794M
- Deposits at failure
- $1,547M
- Assets at failure
- $1,596M
- Acquiring bank
- UNITED CENTRAL BANK (GARLAND, TX)