FIRST UNITED BANK Failed 2012

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

What happened

FIRST UNITED BANK of CRETE, IL was closed on 2012-09-28. The FDIC was named receiver.

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

Deposits were transferred to OLD PLANK TRAIL COMMUNITY BANK, NATIONAL ASSOCIATION (NEW LENOX, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID: 4025
FDIC Certificate: 20685
FDIC FIN: 10459
Bank name: FIRST UNITED BANK
Location: CRETE, IL
Failure date: 2012-09-28
FDIC resolution date: 2012-09-28
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: $317M
Assets at failure: $328M
Acquiring bank: OLD PLANK TRAIL COMMUNITY BANK, NATIONAL ASSOCIATION (NEW LENOX, IL)