Illinois Bank Losses Cost FDIC A Pretty Penny
July 22nd, 2009 categories: Local Markets
Illinois Bank Losses Cost FDIC a Pretty Penny.
The Top 12 Illinois Bank Failures of 2009 report from Chicago Tribune:
| Bank Name | Location | Total Assets Estimate | FDIC Insured Loss | Insured Loss % of Banks Total Assets |
| Founders Bank | Worth | $963,000 | $189,000 | 20% |
| Strategic Capital | Champaign | $547,000 | $173000 | 32% |
| Citizens National | Macomb | $439,000 | $106,000 | 24% |
| National Bank of Commerce | Berkeley | $420,000 | $97,000 | 23% |
| Corn Belt Bank and Trust | Pittsfield | $260,000 | $100,000 | 38% |
| Heritage Community | Glenwood | $235,000 | $42,000 | 18% |
| Bank of Lincolnwood | Lincolnwood | $214,000 | $83,000 | 39% |
| 1st National Bank | Danville | $166,000 | $24,000 | 14% |
| Rock River | Oregon | $77,000 | $28,000 | 36% |
| John Warner | Clinton | $70,000 | $10,000 | 14% |
| Elizabeth State | Elizabeth | $56,000 | $11,000 | 20% |
| Totals | $3,483,000 | $869,000 | 25% |
These 12 Illinois Bank lost a total of $869 Million Dollars this year or 25% of total bank assets a little under $3.5 billion.
All of this money was insured by FDIC.
FDIC total Losses on a National Level are estimated to be $12.7 Billion with $42 Billion in total Bank Assets.
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