Regulators Shut Down Two Illinois Banks
Regulators shuttered two Illinois banks Friday, bringing the total number of failed U.S. banks and thrifts during 2009 to 36.
The Illinois Department of Financial and Professional Regulation seized Strategic Capital Bank of Champaign, Ill. The Federal Deposit Insurance Corp. was appointed receiver and arranged for all of the failed bank's deposits to be taken over by Midland States Bank of Effingham, Ill.
The Office of the Comptroller of the Currency then shut down Citizens National Bank of Macomb, Ill. and appointed the FDIC receiver. The FDIC then arranged for Morton Community Bank of Morton, Ill. to assume Citizens' retail deposits.
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