Last of the Aztecs

Third-ranked, AztecAmerica Bank of Berwyn, Illinois, was closed today by the Illinois state regulators. The former bank had approximately $66.3 million in total assets and $65.0 million in total deposits as of December 31, 2013. In addition to assuming all of the deposits of the failed bank, Republic Bank of Chicago (1642nd) based in Oak Brook, Illinois, has agreed to purchase approximately $58.3 million of the failed bank's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $18.0 million.