US regulators close Founders Bank of Worth, Ill.
WASHINGTON, July 2 |
WASHINGTON, July 2 (Reuters) - U.S. bank regulators closed Founders Bank, of Worth, Illinois, the largest of 7 financial institutions seized on Thursday.
The Federal Deposit Insurance Corp said Founders had $962.5 million in assets and approximately $848.9 million in deposits. The failure is expected to cost the FDIC deposit insurance fund an estimated $188.5 million.
The PrivateBank and Trust Co of Chicago will assume all of the deposits of Founders Bank.
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