BANK OF ELMWOOD Failed 2009
What happened
BANK OF ELMWOOD of RACINE, WI was closed on 2009-10-23. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to TRI CITY NATIONAL BANK (OAK CREEK, WI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3693
- FDIC Certificate
- 18321
- FDIC FIN
- 10132
- Bank name
- BANK OF ELMWOOD
- Location
- RACINE, WI
- Failure date
- 2009-10-23
- FDIC resolution date
- 2009-10-23
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $99M
- Deposits at failure
- $273M
- Assets at failure
- $327M
- Acquiring bank
- TRI CITY NATIONAL BANK (OAK CREEK, WI)