SHOREBANK Failed 2010
What happened
SHOREBANK of CHICAGO, IL was closed on 2010-08-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to URBAN PARTNERSHIP BANK (CHICAGO, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3844
- FDIC Certificate
- 15640
- FDIC FIN
- 10284
- Bank name
- SHOREBANK
- Location
- CHICAGO, IL
- Failure date
- 2010-08-20
- FDIC resolution date
- 2010-08-20
- 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.)
- $526M
- Deposits at failure
- $1,547M
- Assets at failure
- $2,166M
- Acquiring bank
- URBAN PARTNERSHIP BANK (CHICAGO, IL)