Data / Bank failures / 2017 / Seaway Bank and Trust Company
Seaway Bank and Trust Company, Chicago, IL: failed January 27, 2017
Seaway Bank and Trust Company in Chicago, Illinois, failed on January 27, 2017. State Bank of Texas of Dallas, TX, took over its deposits. It held $297.8 million in assets and $256.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $43.7 million (14.7% of its assets). By assets it was the 3rd largest of 8 banks closed or assisted in 2017.
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The FDIC's record
- Closed
- January 27, 2017
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- State Bank of Texas, Dallas, TX
- Total assets
- $297,809,000
- Total deposits
- $256,505,000
- Estimated cost to the FDIC
- $43,690,516 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 19328
Other bank failures in Illinois, 2015 to 2019
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Washington Federal Bank for Savings | Chicago | December 15, 2017 | $166.3 million | $144 million | $75 million | Royal Savings Bank |
| Fayette County Bank | Saint Elmo | May 26, 2017 | $34.4 million | $34 million | $8.1 million | United Fidelity Bank, FSB |
| Edgebrook Bank | Chicago | May 8, 2015 | $90 million | $90 million | $20.6 million | Republic Bank of Chicago |
| Highland Community Bank | Chicago | January 23, 2015 | $54.7 million | $53.5 million | $4.7 million | United Fidelity Bank, FSB |
Other failed banks State Bank of Texas took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The National Republic Bank of Chicago | Chicago | IL | October 24, 2014 | $843.1 million | $809.6 million | $54.4 million | State Bank of Texas |
| Millennium State Bank of Texas | Dallas | TX | July 2, 2009 | $118.6 million | $115.5 million | $52.7 million | State Bank of Texas |
| First National Bank of Garland | Garland | TX | March 29, 1990 | $9.4 million | $10.1 million | $2.3 million | State Bank of Texas |
All bank failures in 2017 · All bank failures in Illinois · Every failed bank State Bank of Texas 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.