FIRST CHOICE BANK Failed 2011

GENEVA, IL · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST CHOICE BANK of GENEVA, IL was closed on 2011-08-19. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to INLAND BANK & TRUST (OAK BROOK, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3957
FDIC Certificate
57212
FDIC FIN
10390
Bank name
FIRST CHOICE BANK
Location
GENEVA, IL
Failure date
2011-08-19
FDIC resolution date
2011-08-19
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.)
$34M
Deposits at failure
$137M
Assets at failure
$141M
Acquiring bank
INLAND BANK & TRUST (OAK BROOK, IL)