# PALOS BANK AND TRUST COMPANY

> **Failed bank** · PALOS HEIGHTS, IL · failed 2010-08-13 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $67M

## What happened

PALOS BANK AND TRUST COMPANY of PALOS HEIGHTS, IL was closed by regulators 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
- **Estimated FDIC DIF cost:** $67M
- **Deposits at failure:** $468M
- **Assets at failure:** $493M
- **Acquiring bank:** FIRST MIDWEST BANK (ITASCA, IL)

## Other banks FIRST MIDWEST BANK has acquired in FDIC resolutions

- WAUKEGAN SAVINGS BANK (WAUKEGAN, IL) — failed 2012-08-03 — /failed-bank/4022
- PEOTONE BANK AND TRUST COMPANY (PEOTONE, IL) — failed 2010-04-23 — /failed-bank/3785
- FIRST DUPAGE BANK (WESTMONT, IL) — failed 2009-10-23 — /failed-bank/3694
- FIDELITY SAVINGS BANK (DANVILLE, IL) — failed 1990-02-16 — /failed-bank/2658

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=PALOS%20BANK%20AND%20TRUST%20COMPANY

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, PALOS BANK AND TRUST COMPANY (FDIC ID 3843), failed 2010-08-13. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/3843.

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