Bank failure · IL

Mutual Bank (Harvey, IL) — failed July 31, 2009

Mutual Bank of Harvey, Illinois was closed on July 31, 2009 and resolved through a purchase and assumption. United Central Bank (TX) took over its insured deposits. At failure it held $1.6B in assets and $1.5B in deposits. The FDIC's estimated loss on the failure is $793.8M (49.8% of assets).