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 & […]

First Chicago Bank & Trust Closed – Illinois’s Billion Dollar Bank Failure

Illinois, which has not seen a banking failure since April, witnessed the collapse of a billion dollar bank today as regulators closed First Chicago Bank & Trust, Chicago, Illinois. First Chicago is the fifth and largest banking failure in Illinois this year.  The four banks that failed in Illinois prior to today were relatively small […]