Illinois Bank Losses Cost FDIC A Pretty Penny

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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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