February 13, 2009 – 4:36 pm
The FDIC’s twelfth victim in 2009 is Corn Belt Bank and Trust Company, Pittsfield, IL.
U.S. bank regulators closed Corn Belt Bank and Trust Co of Pittsfield, Illinois on Friday, the 12th U.S. bank to fail this year.
The Federal Deposit Insurance Corp said Corn Belt Bank and Trust Co had $271.8 million in assets and $234.4 million in deposits. The failure is expected to cost the FDIC deposit insurance fund an estimated $100 million.
Carlinville National Bank of Carlinville, Illinois, agreed to assume the deposits of Corn Belt Bank and Trust Co, whose two branches will reopen on Tuesday as branches of Carlinville National.
For more information, go to the FDIC webpage.
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