Bank failure · WI

Bank of Elmwood (Racine, WI) — failed October 23, 2009

Bank of Elmwood of Racine, Wisconsin was closed on October 23, 2009 and resolved through a purchase and assumption. Tri City National Bank (WI) took over its insured deposits. At failure it held $327.4M in assets and $272.8M in deposits. The FDIC's estimated loss on the failure is $99.5M (30.4% of assets).