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One More Chicago Bank Seized Aug. 13

For the second week in a row, regulators seized only a single bank at the close of business on Friday.

And once again the lone bank taken down was in the Chicago area.

This time the Federal Deposit Insurance Corp. and Illiniois Department of Financial and Professional Regulation closed Palos Bank and Trust Co. in Palos Heights, Ill.

Its deposits were transferred to First Midwest Bank., based in Itasca, Ill., and all Palos Bank branches have been reopened under First Midwest management.

That brings the total number of failed banks to 110 for the year.

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  1. iStock said:
    on August 18th at 11:04 am

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