Data / Bank failures / 2010 / George Washington Savings Bank
George Washington Savings Bank, Orland Park, IL: failed February 19, 2010
George Washington Savings Bank in Orland Park, Illinois, failed on February 19, 2010. Firstmerit Bank, National Association of Akron, OH, took over its deposits. It held $413.7 million in assets and $395.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $118.9 million (28.7% of its assets). By assets it was the 54th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- February 19, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Firstmerit Bank, National Association, Akron, OH
- Total assets
- $413,673,000
- Total deposits
- $395,310,000
- Estimated cost to the FDIC
- $118,851,810 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- DIF
- FDIC certificate
- 29952
Other bank failures in Illinois, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 | |
| Charter National Bank and Trust | Hoffman Estates | February 10, 2012 | $93.9 million | $89.5 million | $18.5 million | Barrington Bank & Trust Company, National Association |
Other failed banks Firstmerit Bank, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Midwest Bank and Trust Company | Elmwood Park | IL | May 14, 2010 | $3.17 billion | $2.42 billion | Firstmerit Bank, National Association |
All bank failures in 2010 · All bank failures in Illinois · Every failed bank Firstmerit Bank, National Association took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.