# WAUKEGAN SAVINGS BANK

> **Failed bank** · WAUKEGAN, IL · failed 2012-08-03 · SI · FDIC cost $24M

## What happened

WAUKEGAN SAVINGS BANK of WAUKEGAN, IL was closed by state regulators on **2012-08-03**. The FDIC was named receiver.

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

Deposits were transferred to **FIRST MIDWEST BANK** (ITASCA, IL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 4022
- **FDIC Certificate:** 28243
- **FDIC FIN:** 10456
- **Bank name:** WAUKEGAN SAVINGS BANK
- **Location:** WAUKEGAN, IL
- **Failure date:** 2012-08-03
- **FDIC resolution date:** 2012-08-03
- **Charter type:** SI
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $24M
- **Deposits at failure:** $73M
- **Assets at failure:** $84M
- **Acquiring bank:** FIRST MIDWEST BANK (ITASCA, IL)

## Other banks FIRST MIDWEST BANK has acquired in FDIC resolutions

- PALOS BANK AND TRUST COMPANY (PALOS HEIGHTS, IL) — failed 2010-08-13 — /failed-bank/3843
- PEOTONE BANK AND TRUST COMPANY (PEOTONE, IL) — failed 2010-04-23 — /failed-bank/3785
- FIRST DUPAGE BANK (WESTMONT, IL) — failed 2009-10-23 — /failed-bank/3694
- FIDELITY SAVINGS BANK (DANVILLE, IL) — failed 1990-02-16 — /failed-bank/2658

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, WAUKEGAN SAVINGS BANK (FDIC ID 4022), failed 2012-08-03. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/4022.

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