Three Banking Failures In Georgia And Illinois Bring Year’s Total To 14

Three banking failures in two different states increased the number of banking collapses in 2011 to fourteen banks. The FDIC, with a long list of 860 Problem Banks, was hit for $118.4 million in losses.  The total cost of banking failures in 2011 now totals $1.3 billion. During 2010 a total of 157 banking failures […]

Failed Community First Bank of Chicago Sold To Wintrust Corp

February 4, 2011 – Community First Bank, Chicago, Illinois, was closed today by the Department of Financial and Professional Regulation, which appointed the FDIC as receiver.  The FDIC sold the failed bank to Northbrook Bank and Trust Company, Northbrook, Illinois, which will assume all deposits of Community First. Community First was a small one branch […]