# LEGACY BANK

> **Failed bank** · MILWAUKEE, WI · failed 2011-03-11 · State commercial bank, Federal Reserve member · FDIC cost $74M

## What happened

LEGACY BANK of MILWAUKEE, WI was closed by state regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- FIRST SUBURBAN NATIONAL BANK (MAYWOOD, IL) — failed 2010-10-22 — /failed-bank/3867

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LEGACY BANK (FDIC ID 3915), failed 2011-03-11. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3915.

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