Banks Closed In Ill, Ind; Makes 9 Failures In 2012

By Salon Staff
Published February 11, 2012 12:00AM (EST)

WASHINGTON (AP) — Regulators have closed small banks in Illinois and Indiana, increasing to nine the number of U.S. bank failures this year, a slower pace than in 2011, when there were 92 bank closures.

The Federal Deposit Insurance Corp. on Friday seized Charter National Bank and Trust, based in Hoffman Estates, Ill., with $93.9 million in assets and $89.5 million in deposits, and SCB Bank, based in Shelbyville, Ind., with $182.6 million in assets and $171.6 million in deposits.

Barrington Bank & Trust Co., based in Barrington, Ill., agreed to assume the assets and deposits of Charter National Bank and Trust. First Merchants Bank, based in Muncie, Ind., is assuming the assets and deposits of SCB Bank.


Salon Staff

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