Bank failure · IN
Industrial National Bank of East Chicago (East Chicago, IN) — failed April 3, 1986
Industrial National Bank of East Chicago of East Chicago, Indiana was closed on April 3, 1986 and resolved through a purchase and assumption. Mercantile Nb of Indiana (IN) took over its insured deposits. At failure it held $8.4M in assets and $8.1M in deposits. The FDIC's estimated loss on the failure is $1.2M (14.1% of assets).
- Closing date
- April 3, 1986
- FDIC certificate #
- 22774
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mercantile Nb of Indiana
- Insurance fund
- FDIC
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