â¢Two Illinois Banks Fail as U.S. Closes Lenders at Fastest Pace in 15 Years
http://www.bloomberg.com/apps/news?pid=20601087&sid=a42Xg57jVTzM&refer=home
Citizens National Bank in Illinois Seized by State Regulators
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By Margaret Chadbourn and Ari Levy
May 22 (Bloomberg) -- Citizens National Bank of Macomb, Illinois, was closed by regulators, pushing the toll of failed U.S. lenders to 36 this year amid the longest recession since the 1930s.
Citizens National was shut by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. was named receiver, the FDIC said in a statement. The bankâs deposits were assumed by Morton Community Bank of Morton, Illinois.
To contact the reporters on this story: Margaret Chadbourn in Washington at mchadbourn@bloomberg.net; Ari Levy in San Francisco at alevy5@bloomberg.net.
Last Updated: May 22, 2009 19:47 EDT
http://www.bloomberg.com/apps/news?pid=20601087&sid=a42Xg57jVTzM&refer=home
Citizens National Bank in Illinois Seized by State Regulators
Share | Email | Print | A A A
By Margaret Chadbourn and Ari Levy
May 22 (Bloomberg) -- Citizens National Bank of Macomb, Illinois, was closed by regulators, pushing the toll of failed U.S. lenders to 36 this year amid the longest recession since the 1930s.
Citizens National was shut by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. was named receiver, the FDIC said in a statement. The bankâs deposits were assumed by Morton Community Bank of Morton, Illinois.
To contact the reporters on this story: Margaret Chadbourn in Washington at mchadbourn@bloomberg.net; Ari Levy in San Francisco at alevy5@bloomberg.net.
Last Updated: May 22, 2009 19:47 EDT