Bank failure · WI
Legacy Bank (Milwaukee, WI) — failed March 11, 2011
Legacy Bank of Milwaukee, Wisconsin was closed on March 11, 2011 and resolved through a purchase and assumption. Seaway Bank and Trust Company (IL) took over its insured deposits. At failure it held $190.4M in assets and $183.3M in deposits. The FDIC's estimated loss on the failure is $73.7M (38.7% of assets).
- Closing date
- March 11, 2011
- FDIC certificate #
- 34818
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Seaway Bank and Trust Company
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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