CHARTER NATIONAL BANK AND TRUST Failed 2012

What happened

CHARTER NATIONAL BANK AND TRUST of HOFFMAN ESTATES, IL was closed on 2012-02-10. The FDIC was named receiver.

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

Deposits were transferred to BARRINGTON BANK & TRUST COMPANY, NATIONAL ASSOCIATION (BARRINGTON, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3990

FDIC Certificate

23187

FDIC FIN

10424

Bank name

CHARTER NATIONAL BANK AND TRUST

Location

HOFFMAN ESTATES, IL

Failure date

2012-02-10

FDIC resolution date

2012-02-10

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$18M

Deposits at failure

$89M

Assets at failure

$94M

Acquiring bank

BARRINGTON BANK & TRUST COMPANY, NATIONAL ASSOCIATION (BARRINGTON, IL)