by Calculated Risk on 8/06/2010 07:05:00 PM
Friday, August 06, 2010
Bank Failure #109: Ravenswood Bank, Chicago, Illinois
Earlier employment posts today (with many graphs):
Quoth the Raven, nevermore!
One can only hope.
by Soylent Green is People
From the FDIC: Northbrook Bank and Trust Company, Northbrook, Illinois, Assumes All of the Deposits of Ravenswood Bank, Chicago, Illinois
As of June 30, 2010, Ravenswood Bank had approximately $264.6 million in total assets and $269.5 million in total deposits.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $68.1 million. ... Ravenswood Bank is the 109th FDIC-insured institution to fail in the nation this year, and the thirteenth in Illinois. The last FDIC-insured institution closed in the state was Arcola Homestead Savings Bank, Arcola, on June 4, 2010.