PALOS BANK AND TRUST COMPANY Failed 2010
What happened
PALOS BANK AND TRUST COMPANY of PALOS HEIGHTS, IL was closed on 2010-08-13. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST MIDWEST BANK (ITASCA, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3843
- FDIC Certificate
- 17599
- FDIC FIN
- 10277
- Bank name
- PALOS BANK AND TRUST COMPANY
- Location
- PALOS HEIGHTS, IL
- Failure date
- 2010-08-13
- FDIC resolution date
- 2010-08-13
- 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.)
- $67M
- Deposits at failure
- $468M
- Assets at failure
- $493M
- Acquiring bank
- FIRST MIDWEST BANK (ITASCA, IL)
Other banks FIRST MIDWEST BANK acquired in FDIC resolutions