Bank Closure Friday

After a week where saw a break from bank seizures, the 37th bank closure was announced Friday afternoon.-Lou

Illinois' Bank of Lincolnwood fails, 37th of 2009

By Wallace Witkowski

SAN FRANCISCO (MarketWatch) -- Bank of Lincolnwood in Lincolnwood, Ill. became the 37th bank of the year to fail and the sixth Illinois bank failure in 2009, according to Federal Deposit Insurance Corp. Friday. Republic Bank of Chicago in Oak Brook, Ill. will assume all the bank's deposits. As of May 26, Bank of Lincolnwood had total assets of about $214 million and total deposits of $202 million. Republic will purchase about $162 million in assets with FDIC retaining the remaining assets for later disposition.