Two small suburban Chicago banks have failed bringing the number of the bank in Illinois to 15. In Bank in the Southwest suburb of Oak Forest has been taken over by MB Bank of Chicago. MB will purchase the assest of In Bank valued at $212 Million and Deposits of $199 Million. MB three branches in Oak Forest, Tinley Park and Chicago will become a MB branch.
A second Chicago bank was not so fortunate Platinum Community Bank will go out of business. The Depositors will compensated by the FDIC insurance the check will be in the mail soon. Those who use Platinum Community Bank for direct deposits of Social Security and Veteran payments will be allowed to us MB Bank Palatine,IL branch.
Flagstaff based First State Bank assets and deposits will now under the Sunwest Bank of Tustin,CA. First Sate Bank has five branches all which open as Sunwest Bank.This is the third Arizona Bank that failed.
In Iowa, Vantus Bank of Sioux City, IA was shut down by regulators. It was the first bank in Iowa to fall in nearly a decade. Vantus deposits will become of Great Southern Bank of Springfield,MO. Customers will continue use Vantus check, debit and credit cards.
In Kansas City,Mo First Bank of Kansas City will open as branch of Great America Bank, based in De Soto,KA.The Branch was closed on Friday. This will be Great America’s second branch.