Bank failure · IL
New Century Bank (Chicago, IL) — failed April 23, 2010
New Century Bank of Chicago, Illinois was closed on April 23, 2010 and resolved through a purchase and assumption. Mb Financial Bank, National Association (IL) took over its insured deposits. At failure it held $447.2M in assets and $439.0M in deposits. The FDIC's estimated loss on the failure is $132.1M (29.5% of assets).
- Closing date
- April 23, 2010
- FDIC certificate #
- 34821
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Mb Financial Bank, National Association
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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