Data / Bank failures / 2012 / Farmers' and Traders' State Bank
Farmers' and Traders' State Bank, Shabbona, IL: failed June 8, 2012
Farmers' and Traders' State Bank in Shabbona, Illinois, failed on June 8, 2012. First State Bank of Mendota, IL, took over its deposits. It held $43.1 million in assets and $42.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.2 million (23.8% of its assets). By assets it was the 48th largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- June 8, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First State Bank, Mendota, IL
- Total assets
- $43,077,000
- Total deposits
- $42,302,000
- Estimated cost to the FDIC
- $10,243,026 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 9257
Other bank failures in Illinois, 2010 to 2014
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The National Republic Bank of Chicago | Chicago | October 24, 2014 | $843.1 million | $809.6 million | $54.4 million | State Bank of Texas |
| Greenchoice Bank, FSB | Chicago | July 25, 2014 | $70.3 million | $68.7 million | $18.4 million | Providence Bank, LLC |
| Valley Bank | Moline | June 20, 2014 | $456.4 million | $360 million | $47.8 million | Great Southern Bank |
| Aztecamerica Bank | Berwyn | May 16, 2014 | $66.3 million | $65 million | $21.7 million | Republic Bank of Chicago |
| Dupage National Bank | West Chicago | January 17, 2014 | $53.5 million | $51.9 million | $1.5 million | Republic Bank of Chicago |
| 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 |
Other failed banks First State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Valley Community Bank | ST. Charles | IL | February 25, 2011 | $123.8 million | $124.2 million | $28.3 million | First State Bank |
| First National Bank of Cedar Hill | Cedar Hill | TX | May 16, 1991 | $11 million | $11.1 million | $2.6 million | First State Bank |
| First Fsa of Wewoka | Wewoka | OK | March 8, 1991 | $32.9 million | $27.9 million | $5.2 million | First State Bank |
| Bank of Meeker | Meeker | OK | March 15, 1990 | $15.5 million | $15.5 million | $3.8 million | First State Bank |
| Citizens Bank and Trust | Calvert | TX | March 9, 1989 | $14.2 million | $16.8 million | $5.3 million | First State Bank |
| The First National Bank of Gracemont | Gracemont | OK | November 10, 1988 | $6.6 million | $6.8 million | $1 million | First State Bank |
| Round Rock National Bank | Round Rock | TX | October 27, 1988 | $37 million | $37.1 million | $20 million | First State Bank |
| Frontier National Bank | Round Rock | TX | October 27, 1988 | $39.5 million | $39.3 million | $11.5 million | First State Bank |
All bank failures in 2012 · All bank failures in Illinois · Every failed bank First State Bank 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.