SEAWAY BANK AND TRUST COMPANY Failed 2017
What happened
SEAWAY BANK AND TRUST COMPANY of CHICAGO, IL was closed on 2017-01-27. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STATE BANK OF TEXAS (DALLAS, TX). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 4090
- FDIC Certificate
- 19328
- FDIC FIN
- 10524
- Bank name
- SEAWAY BANK AND TRUST COMPANY
- Location
- CHICAGO, IL
- Failure date
- 2017-01-27
- FDIC resolution date
- 2017-01-27
- 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.)
- $44M
- Deposits at failure
- $257M
- Assets at failure
- $298M
- Acquiring bank
- STATE BANK OF TEXAS (DALLAS, TX)
Other banks STATE BANK OF TEXAS acquired in FDIC resolutions