Data / Bank failures / 1979 / Gateway National Bank
Gateway National Bank, Chicago, IL: failed July 14, 1979
Gateway National Bank in Chicago, Illinois, failed on July 14, 1979. It held $16.9 million in assets and $9.2 million in deposits at its last report. By assets it was the 3rd largest of 10 banks closed or assisted in 1979.
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The FDIC's record
- Closed
- July 14, 1979
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Total assets
- $16,933,000
- Total deposits
- $9,230,000
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 17710
Other bank failures in Illinois, 1977 to 1981
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Palos S&LA (assistance) | Palos Heights | December 5, 1981 | $98 million | $81 million | Hyde Park FS&LA | |
| Reserve S&LA (assistance) | Elmhurst | October 7, 1981 | $129.8 million | $100 million | Hyde Park FS&LA | |
| Financial Security S&LA (assistance) | Elk Grove Village | June 1, 1981 | $63.8 million | $50.1 million | $15.7 million | Land of Lincoln S&LA |
| Economy S&LA | Chicago | May 18, 1981 | $73.9 million | $58.4 million | $22 million | |
| South Side Bank | Chicago | March 14, 1981 | $27.5 million | $26 million | $3.5 million | Drexel National Bank |
| The Des Plaines Bank | Des Plaines | March 14, 1981 | $46.5 million | $42.9 million | $1.1 million | |
| Franklin Sa (assistance) | Chicago | February 9, 1981 | $97.6 million | $71.9 million | $1.6 million | Avondale FSB |
| The Rochelle BK & TR Co. | Rochelle | October 11, 1980 | $8.4 million | $7.6 million | $777,705 | United Bank of Rochelle |
All bank failures in 1979 · All bank failures in Illinois · 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.