# COVENANT BANK

> **Failed bank** · CHICAGO, IL · failed 2013-02-15 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $20M

## What happened

COVENANT BANK of CHICAGO, IL was closed by regulators on **2013-02-15**. The FDIC was named receiver.

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

Deposits were transferred to **LIBERTY BANK AND TRUST COMPANY** (NEW ORLEANS, LA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 4036
- **FDIC Certificate:** 22476
- **FDIC FIN:** 10470
- **Bank name:** COVENANT BANK
- **Location:** CHICAGO, IL
- **Failure date:** 2013-02-15
- **FDIC resolution date:** 2013-02-15
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $20M
- **Deposits at failure:** $54M
- **Assets at failure:** $58M
- **Acquiring bank:** LIBERTY BANK AND TRUST COMPANY (NEW ORLEANS, LA)

## Other banks LIBERTY BANK AND TRUST COMPANY has acquired in FDIC resolutions

- HOME FEDERAL SAVINGS BANK (DETROIT, MI) — failed 2009-11-06 — /failed-bank/3711
- DOUGLASS NATIONAL BANK (KANSAS CITY, MO) — failed 2008-01-25 — /failed-bank/3556

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COVENANT BANK (FDIC ID 4036), failed 2013-02-15. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/4036.

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