Bank failure · IL

Universal FSB (Chicago, IL) — failed June 27, 2002

Universal FSB of Chicago, Illinois was closed on June 27, 2002 and resolved through a purchase and assumption (insured deposits). Chicago Community Bank (IL) took over its insured deposits. At failure it held $51.6M in assets and $40.3M in deposits. The FDIC's estimated loss on the failure is $274K (0.5% of assets).