BROADWAY BANK Failed 2010
What happened
BROADWAY BANK of CHICAGO, IL was closed on 2010-04-23. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MB FINANCIAL BANK, NATIONAL ASSOCIATION (CHICAGO, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3786
- FDIC Certificate
- 22853
- FDIC FIN
- 10219
- Bank name
- BROADWAY BANK
- Location
- CHICAGO, IL
- Failure date
- 2010-04-23
- FDIC resolution date
- 2010-04-23
- 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.)
- $377M
- Deposits at failure
- $1,023M
- Assets at failure
- $1,059M
- Acquiring bank
- MB FINANCIAL BANK, NATIONAL ASSOCIATION (CHICAGO, IL)
Other banks MB FINANCIAL BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions