Rock River Bank, Oregon, IL

The FDIC busied itself this holiday weekend by seizing seven banks after the close of business on Thursday. The Rock River Bank, Oregon, IL, became the 48th bank to be shut down by the agency in 2009. Here is the story from Marketwatch:

Rock River Bank of Oregon, Ill. became the 48th bank failure of 2009, and the ninth Illinois bank failure of the year, according to the Federal Deposit Insurance Corp. late Thursday. Harvard State Bank of Harvard, Ill. will assume the deposits and purchase about $72.9 million of assets. As of April 30, Rock River Bank had total assets of $77 million and total deposits of about $75.8 million. Rock River also marks the 73rd bank to fail since the beginning of the recession.

Visit the official FDIC webpage for more information.

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