Bank failure · IL
Seaway Bank and Trust Company (Chicago, IL) — failed January 27, 2017
Seaway Bank and Trust Company of Chicago, Illinois was closed on January 27, 2017 and resolved through a purchase and assumption. State Bank of Texas (TX) took over its insured deposits. At failure it held $297.8M in assets and $256.5M in deposits. The FDIC's estimated loss on the failure is $43.7M (14.7% of assets).
- Closing date
- January 27, 2017
- FDIC certificate #
- 19328
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- State Bank of Texas
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials