Data / Bank failures / 2009 / Bank of Elmwood
Bank of Elmwood, Racine, WI: failed October 23, 2009
Bank of Elmwood in Racine, Wisconsin, failed on October 23, 2009. Tri City National Bank of Oak Creek, WI, took over its deposits. It held $327.4 million in assets and $272.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $99.5 million (30.4% of its assets). By assets it was the 70th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- October 23, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Tri City National Bank, Oak Creek, WI
- Total assets
- $327,444,000
- Total deposits
- $272,782,000
- Estimated cost to the FDIC
- $99,462,712 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 18321
Other bank failures in Wisconsin, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Legacy Bank | Milwaukee | March 11, 2011 | $190.4 million | $183.3 million | $73.7 million | Seaway Bank and Trust Company |
| Badger State Bank | Cassville | February 11, 2011 | $83.8 million | $78.5 million | $19.5 million | Royal Bank |
| Evergreen State Bank | Stoughton | January 28, 2011 | $240.9 million | $193.7 million | $28.1 million | McFarland State Bank |
| First Banking Center | Burlington | November 19, 2010 | $750.7 million | $664.8 million | $86.1 million | First Michigan Bank |
| Maritime Savings Bank | West Allis | September 17, 2010 | $350.5 million | $248.1 million | $88.4 million | North Shore Bank, FSB |
All bank failures in 2009 · All bank failures in Wisconsin · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.