Bank failure · IL
The Cosmopolitan National Bank of Chicago (Chicago, IL) — failed May 17, 1991
The Cosmopolitan National Bank of Chicago of Chicago, Illinois was closed on May 17, 1991 and resolved through a purchase and assumption. Cosmopolitan Bank and Trust (IL) took over its insured deposits. At failure it held $110.1M in assets and $108.5M in deposits. The FDIC's estimated loss on the failure is $14.9M (13.5% of assets).
- Closing date
- May 17, 1991
- FDIC certificate #
- 15404
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Cosmopolitan Bank and Trust
- Insurance fund
- BIF
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