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: Calculated RiskBank Failure #80: Arcola Homestead Savings Bank, Arcola, Illinois
By Anonymous
The FDIC was unable to find another financial institution to take over the banking operations of Arcola Homestead Savings Bank....No one wanted this one ...As of March 31, 2010, Arcola Homestead Savings Bank had approximately $17.0 million in total assets and $18.1 million in total deposits. ...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.2 million. Arcola Homestead Savings Bank is the 80th FDIC-insured institution to fail in the nation this year, and the twelfth in Illinois. The last FDIC-insured institution closed in the state was Midwest Bank and Trust Company, Elmwood Park, on May 14, 2010.
Full post as published by Calculated Risk on June 04, 2010 (boomark / email).
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