Bank failure · IL
Palos Bank and Trust Company (Palos Heights, IL) — failed August 13, 2010
Palos Bank and Trust Company of Palos Heights, Illinois was closed on August 13, 2010 and resolved through a purchase and assumption. First Midwest Bank (IL) took over its insured deposits. At failure it held $493.4M in assets and $467.8M in deposits. The FDIC's estimated loss on the failure is $67.0M (13.6% of assets).
- Closing date
- August 13, 2010
- FDIC certificate #
- 17599
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Midwest Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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