Five Bank Failures Bring Year’s Total To 38 – FDIC Losses Top $1.9 Billion

Regulators had a busy week closing five banks in four different states on Friday.  Although bank failures have been proceeding at a slower pace than last year, the total losses to the FDIC Deposit Insurance Fund now top $1.9 billion and the number of problem banks remains very high considering that we are four years […]

Second Federal Savings and Loan Association Of Chicago, IL, Closed By Feds

Second Federal Savings and Loan Association of Chicago, Chicago, IL, was closed today by the Officer of the Comptroller of the Currency.  The FDIC, appointed as receiver, sold the failed bank to Hinsdale Bank & Trust Company, Hinsdale, IL. All three branches of Second Federal will reopen on Saturday as branches of Hinsdale Bank & […]