Feds Shut Down Bank of Lincolnwood

For the 37th time in 2009, the United States federal government has stepped in and shut down a bank. This latest bank closure occurred in the state of Illinois when the feds closed the Bank of Lincolnwood on Friday.
Within the last month, this is the third Illinois bank to be shut down. Compared to the other two, the Bank of Lincolnwood will cost the FDIC the least amount of money — an estimated $83 million. In total, the bank had assets of approximately $215 million and deposits of about $200 million.
The Bank of Lincolnwood branches will be changed over to …read more