A Quiet Week for Banks

After several weeks of multiple closures, authorities have only closed one bank this Friday. 13th ranked Valley Community Bank of St. Charles, IL was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking. Valley Community had approximately $123.8 million in total assets and $124.2 million in total deposits. First State Bank (3846th) of Mendota, IL has agreed to assume all deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million.