April 23, 2010 Bank Closures

Well it is Friday and 7 more banks were closed.

1. Amcore Bank, National Association, Rockford, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $220.3 million.

2. Broadway Bank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation — Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $394.3 million.

3. Citizens Bank&Trust Company of Chicago, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation — Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million.

4. New Century Bank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation — Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. he FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $125.3 million.

5. Lincoln Park Savings Bank, Chicago, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $48.4 million.

6. Peotone Bank and Trust Company, Peotone, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.7 million.

7. Wheatland Bank, Naperville, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $133.0 million.

Interesting is that all banks closed today were in Illinois. There have been a total of 57 banks closed in America this year and 10 of these have been in Illinois. How's that for you...17.5% have been in this state. Maybe along with corrupt politicians there are corrupt bankers.

The year-to-date loss to the FDIC or lets say "WE THE PEOPLE" is $9.190 billion and still counting.