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, May 16, 2014
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.