Six Illinois banks ultimately controlled by the same ownership group were among the seven new bank failures last week, making the state home to the second most bank collapses in the financial crisis. The seven failures last week were the most in a single week in the past two years. All 77 bank failures since the beginning of 2008 are detailed on TheStreet.com's interactive bank failure map:
The six Illinois failures brings its total number of failures since the start of 2008 to 13, moving it two ahead of Californiawith 11. Georgia leads all states with 14 bank or thrift failures over the past two years. Florida follows with five and Nevada with four. The six failed Illinois banks controlled by the Campbell Group had combined total assets of $1.4 billion. State regulators closed five of the banks and the Federal Deposit Insurance Corp arranged for assets and deposits to be sold to competitors. The John Warner Bank of Clinton's assets and deposits were acquired by State Bank of Lincoln. First State Bank of Winchester's assets and deposits were acquired by The First National Bank of Beardstown. Rock River Bank of Oregon sold its deposits and assets to The Harvard State Bank. Galena State Bank and Trust, a subsidiary of Heartland Financial ( HTLF) bought deposits and assets of failed Elizabeth State Bank. The PrivateBank and Trust Company of Chicago, a subsidiary of Privatebancorp ( PVTB) purchased the assets and deposits of Founders Bank of Worth, Ill. The Office of the Comptroller of the Currency took over First National Bank of Danville and the FDIC arranged for First Financial Bank, held by First Financial Corp. ( THFF). of Terre Haute, Ind. to take over all of the failed institution's deposits and branches.