Bank failure · IL

First United Bank (Crete, IL) — failed September 28, 2012

First United Bank of Crete, Illinois was closed on September 28, 2012 and resolved through a purchase and assumption. Old Plank Trail Community Bank, National Association (IL) took over its insured deposits. At failure it held $328.4M in assets and $316.9M in deposits. The FDIC's estimated loss on the failure is $33.8M (10.3% of assets).