Data / Bank failures / 2009 / Mutual Bank
Mutual Bank, Harvey, IL: failed July 31, 2009
Mutual Bank in Harvey, Illinois, failed on July 31, 2009. United Central Bank of Garland, TX, took over its deposits. It held $1.60 billion in assets and $1.55 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $793.8 million (49.8% of its assets). By assets it was the 29th largest of 148 banks closed or assisted in 2009.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- July 31, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- United Central Bank, Garland, TX
- Total assets
- $1,595,657,000
- Total deposits
- $1,546,525,000
- Estimated cost to the FDIC
- $793,841,215 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 18659
Other bank failures in Illinois, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| All American Bank | Des Plaines | October 28, 2011 | $34.8 million | $30.5 million | $13.8 million | International Bank of Chicago |
| Country Bank | Aledo | October 14, 2011 | $195 million | $180.8 million | $69.3 million | Blackhawk Bank & Trust |
| First Choice Bank | Geneva | August 19, 2011 | $141 million | $137.2 million | $34.1 million | Inland Bank & Trust |
| Bank of Shorewood | Shorewood | August 5, 2011 | $110.7 million | $104 million | $29.4 million | Heartland Bank and Trust Company |
| First Chicago Bank & Trust | Chicago | July 8, 2011 | $896.9 million | $830.5 million | $192.9 million | Northbrook Bank and Trust Company |
| Western Springs National Bank and Trust | Western Springs | April 8, 2011 | $186.7 million | $182.4 million | $38 million | Heartland Bank and Trust Company |
| The Bank of Commerce | Wood Dale | March 25, 2011 | $163.1 million | $161.4 million | $44.1 million | Advantage National Bank |
| Valley Community Bank | ST. Charles | February 25, 2011 | $123.8 million | $124.2 million | $28.3 million | First State Bank |
All bank failures in 2009 · 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.