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, October 28, 2011
Number Eleven All American Bank Fails
11th ranked All American Bank of Des Plaines, Illinois failed today and was acquired by International Bank of Chicago (5644th) of Chicago, Illinois. The small bank had assets of approximately $37.8 million and $33.4 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.5 million.