Platinum Community Bank, Rolling Meadows, Illinois

Platinum Community Bank, Rolling Meadows, Illinois, became the 87th FDIC casuality of 2009 tonight.

The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Platinum Community Bank, Rolling Meadows, Illinois. The bank was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver.

The FDIC will mail customers checks for their insured funds on Tuesday, September 8. Platinum Community Bank, as of August 29, 2009, had total assets of $345.6 million and total deposits of $305.0 million.

The FDIC entered into an agreement with MB Financial Bank, National Association, to accept the failed bank’s direct deposits from the federal government, such as Social Security and Veterans’ payments. Customers must use MB Financial’s branch located at 2251 Plum Grove, Palatine, Illinois, to access their federal government direct deposits.

For more information, visit the FDIC’s Web site for Platinum Community Bank.

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