Data / Bank failures / 2010 / Palos Bank and Trust Company
Palos Bank and Trust Company, Palos Heights, IL: failed August 13, 2010
Palos Bank and Trust Company in Palos Heights, Illinois, failed on August 13, 2010. First Midwest Bank of Itasca, IL, took over its deposits. It held $493.4 million in assets and $467.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $67 million (13.6% of its assets). By assets it was the 45th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- August 13, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Midwest Bank, Itasca, IL
- Total assets
- $493,391,000
- Total deposits
- $467,784,000
- Estimated cost to the FDIC
- $66,962,408 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 17599
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 First Midwest Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Waukegan Savings Bank | Waukegan | IL | August 3, 2012 | $83.7 million | $73 million | $23.5 million | First Midwest Bank |
| Peotone Bank and Trust Company | Peotone | IL | April 23, 2010 | $130.2 million | $124.7 million | $45.6 million | First Midwest Bank |
| First Dupage Bank | Westmont | IL | October 23, 2009 | $262.1 million | $254 million | $85.3 million | First Midwest Bank |
| Fidelity Savings Bank | Danville | IL | February 16, 1990 | $16.3 million | $16.5 million | $1.1 million | First Midwest Bank |
All bank failures in 2010 · All bank failures in Illinois · Every failed bank First Midwest 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.