FIRST NAT BK OF OAK LAWN Failed 1983

What happened

FIRST NAT BK OF OAK LAWN of OAK LAWN, IL was closed on 1983-04-29. The FDIC was named receiver.

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

Deposits were transferred to OAK LAWN NATIONAL BANK (OAK LAWN, IL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

775

FDIC Certificate

18550

FDIC FIN

2344

Bank name

FIRST NAT BK OF OAK LAWN

Location

OAK LAWN, IL

Failure date

1983-04-29

FDIC resolution date

1983-04-29

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$21M

Deposits at failure

$123M

Assets at failure

$130M

Acquiring bank

OAK LAWN NATIONAL BANK (OAK LAWN, IL)