Illinois bank failure14th this year
Saturday, August 14, 2021 8:54 AM

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It becomes the 110th U.S. bank (NYSE:USB) to fail this year and since the recession officially began in December 2007, more than 270 banks have failed, the Wall Street Journal said.

The bank had assets of $493.4 million and deposits of nearly $468 million as of June 30. First Midwest Bank of Itasca, Ill., offered to buy all of Palos' deposits at a premium of one percent and the Federal Deposit Insurance Corporation will help pay losses of almost $344 million, the Journal said.

(Source: UPI )
 

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