The FDIC busied itself this holiday weekend by seizing seven banks after the close of business on Thursday. The First State Bank of Winchester, Winchester, IL,  became the 47th bank to be shut down by the agency in 2009. Here is the story from Marketwatch: 

First State Bank of Winchester of Winchester, Ill. became the 47th bank failure of the year and the eighth bank to close in Illinois, the Federal Deposit Insurance Corporation (FDIC) said Thursday. First National Bank of Beardstown, Beardstown, Ill. will assume all deposits of the failed bank. As of April 30, First State Bank of Winchester had total assets of $36 million and deposits of about $34 million. The closure also marks the 72nd bank failure since the start of the financial crisis.

Visit the official FDIC webpage for more information.

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