TOWN COMMUNITY BANK AND TRUST Failed 2010

What happened

TOWN COMMUNITY BANK AND TRUST of ANTIOCH, IL was closed on 2010-01-15. The FDIC was named receiver.

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

Deposits were transferred to FIRST AMERICAN BANK (ELK GROVE VILLAGE, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3737

FDIC Certificate

34705

FDIC FIN

10170

Bank name

TOWN COMMUNITY BANK AND TRUST

Location

ANTIOCH, IL

Failure date

2010-01-15

FDIC resolution date

2010-01-15

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.)

$23M

Deposits at failure

$68M

Assets at failure

$71M

Acquiring bank

FIRST AMERICAN BANK (ELK GROVE VILLAGE, IL)

Other banks FIRST AMERICAN BANK acquired in FDIC resolutions

• HIGH DESERT STATE BANK (ALBUQUERQUE, NM) — failed 2010-06-25
• UNITED CITIZENS BANK, NATIONAL ASSOC (COLLEGE STATION, TX) — failed 1991-02-28
• TEXAS COMMERCIAL SA (SULPHUR SPRINGS, TX) — failed 1990-09-21
• UNIVERSITY NATIONAL BANK OF COLLEGE STATIO (COLLEGE STATION, TX) — failed 1990-03-08
• FIRST CALIFORNIA SAVINGS (ORANGE, CA) — failed 1989-04-06
• FIRST BANK & TRUST (BRYAN, TX) — failed 1989-02-09
• FARMERS NATIONAL BANK OF ERICK (ERICK, OK) — failed 1985-02-07