MIDWEST BANK AND TRUST COMPANY Failed 2010
What happened
MIDWEST BANK AND TRUST COMPANY of ELMWOOD PARK, IL was closed on 2010-05-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRSTMERIT BANK, NATIONAL ASSOCIATION (ARKON, OH). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3802
- FDIC Certificate
- 18117
- FDIC FIN
- 10236
- Bank name
- MIDWEST BANK AND TRUST COMPANY
- Location
- ELMWOOD PARK, IL
- Failure date
- 2010-05-14
- FDIC resolution date
- 2010-05-14
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $2,421M
- Assets at failure
- $3,173M
- Acquiring bank
- FIRSTMERIT BANK, NATIONAL ASSOCIATION (ARKON, OH)
Other banks FIRSTMERIT BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions