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Bank failure · IL

First State Bank of Elmwood Park (Elmwood Park, IL) — failed May 26, 1953

First State Bank of Elmwood Park of Elmwood Park, Illinois was closed on May 26, 1953 and resolved through a p&a. 0 (0) took over its insured deposits. At failure it held $17.5M in assets and $17.0M in deposits.

Closing date
May 26, 1953
Resolution
P&A (failure)
Acquiring institution
0
Insurance fund
FDIC

Other failures in 1953

What happens when a bank fails