Bank failure · IL
Mendon State Bank (Mendon, IL) — failed August 20, 1986
Mendon State Bank of Mendon, Illinois was closed on August 20, 1986 and resolved through a purchase and assumption. First Midwest Bank Quinc (IL) took over its insured deposits. At failure it held $18.9M in assets and $17.6M in deposits. The FDIC's estimated loss on the failure is $8.0M (42.4% of assets).
- Closing date
- August 20, 1986
- FDIC certificate #
- 13714
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Midwest Bank Quinc
- Insurance fund
- FDIC
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