Using cutting edge research, this blog predicts and comments on the probability of failure for the nearly 7000 regulated banks monitored by the Federal Reserve. While most depositors may be protected by the FDIC, the importance of bank survival is still very important to bank clientele with lines of credit, mortgages, loans or other forms of financing. We seek to inform people that they might be at risk.
Friday, August 6, 2010
Ravenswood is Nevermore
After 2 months without a bankruptcy in Illinois, Ravenswood Bank of Chicago, IL closed today with approximately $264.6 million in total assets and $269.5 million in total deposits was closed. Ravenswood is the 109th bank to be shutdown this year. Ravenswood was ranked 11th on the list (18th overall) so it should come as little surprise to readers. Northbrook Bank and Trust Company of Northbrook, IL (1394th) has agreed to assume all deposits, excluding certain brokered deposits.