Data / Bank failures / 2011 / Bank of Shorewood
Bank of Shorewood, Shorewood, IL: failed August 5, 2011
Bank of Shorewood in Shorewood, Illinois, failed on August 5, 2011. Heartland Bank and Trust Company of Bloomington, IL, took over its deposits. It held $110.7 million in assets and $104 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $29.4 million (26.5% of its assets). By assets it was the 72nd largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- August 5, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Heartland Bank and Trust Company, Bloomington, IL
- Total assets
- $110,723,000
- Total deposits
- $104,021,000
- Estimated cost to the FDIC
- $29,377,569 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 22637
Other bank failures in Illinois, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Covenant Bank | Chicago | February 15, 2013 | $58.4 million | $54.2 million | $19.6 million | Liberty Bank and Trust Company |
| Citizens First National Bank | Princeton | November 2, 2012 | $924 million | $869.4 million | $32.5 million | Heartland Bank and Trust Company |
| First United Bank | Crete | September 28, 2012 | $328.4 million | $316.9 million | $33.8 million | Old Plank Trail Community Bank, National Association |
| Waukegan Savings Bank | Waukegan | August 3, 2012 | $83.7 million | $73 million | $23.5 million | First Midwest Bank |
| Second Federal Savings and Loan Association of Chicago | Chicago | July 20, 2012 | $190.9 million | $171.6 million | $86.3 million | Hinsdale Bank & Trust Company |
| Farmers' and Traders' State Bank | Shabbona | June 8, 2012 | $43.1 million | $42.3 million | $10.2 million | First State Bank |
| Premier Bank | Wilmette | March 23, 2012 | $268.7 million | $199 million | $69.3 million | International Bank of Chicago |
| New City Bank | Chicago | March 9, 2012 | $71.2 million | $72.4 million | $13.2 million |
Other failed banks Heartland Bank and Trust Company took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Citizens First National Bank | Princeton | IL | November 2, 2012 | $924 million | $869.4 million | $32.5 million | Heartland Bank and Trust Company |
| Western Springs National Bank and Trust | Western Springs | IL | April 8, 2011 | $186.7 million | $182.4 million | $38 million | Heartland Bank and Trust Company |
| Bank of Illinois | Normal | IL | March 5, 2010 | $211.7 million | $198.5 million | $18.7 million | Heartland Bank and Trust Company |
All bank failures in 2011 · All bank failures in Illinois · Every failed bank Heartland Bank and Trust Company took over · 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.