Bank failure · IL
Covenant Bank (Chicago, IL) — failed February 15, 2013
Covenant Bank of Chicago, Illinois was closed on February 15, 2013 and resolved through a purchase and assumption. Liberty Bank and Trust Company (LA) took over its insured deposits. At failure it held $58.4M in assets and $54.2M in deposits. The FDIC's estimated loss on the failure is $19.6M (33.5% of assets).
- Closing date
- February 15, 2013
- FDIC certificate #
- 22476
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Liberty Bank and Trust Company
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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