LEGACY BANK Failed 2011
What happened
LEGACY BANK of MILWAUKEE, WI was closed on 2011-03-11. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SEAWAY BANK AND TRUST COMPANY (CHICAGO, IL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3915
- FDIC Certificate
- 34818
- FDIC FIN
- 10348
- Bank name
- LEGACY BANK
- Location
- MILWAUKEE, WI
- Failure date
- 2011-03-11
- FDIC resolution date
- 2011-03-11
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $74M
- Deposits at failure
- $183M
- Assets at failure
- $190M
- Acquiring bank
- SEAWAY BANK AND TRUST COMPANY (CHICAGO, IL)
Other banks SEAWAY BANK AND TRUST COMPANY acquired in FDIC resolutions