Bank failure · IL
Shorebank (Chicago, IL) — failed August 20, 2010
Shorebank of Chicago, Illinois was closed on August 20, 2010 and resolved through a purchase and assumption. Urban Partnership Bank (IL) took over its insured deposits. At failure it held $2.2B in assets and $1.5B in deposits. The FDIC's estimated loss on the failure is $526.0M (24.3% of assets).
- Closing date
- August 20, 2010
- FDIC certificate #
- 15640
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Urban Partnership Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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