Saturday, July 12, 2014





Regulators close bank in Illinois


January 17. 2014 7:36PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Regulators have closed a small lender in Illinois, making it the first U.S. bank failure of 2014 following 24 closures last year.


The Federal Deposit Insurance Corp. said Friday it has taken over DuPage National Bank, based in West Chicago, Ill.


The lender, which operated three branches, had about $61.7 million in assets and $59.6 million in deposits as of Sept. 30.


Republic Bank of Chicago, based in Oak Brook, Ill., agreed to pay the FDIC a premium of 1.20 percent to assume all of DuPage National Bank's deposits.


Republic Bank also agreed to buy essentially all of the failed bank's assets.


The failure of DuPage National Bank is expected to cost the deposit insurance fund $1.6 million.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds