Data / Bank failures / 2012 / Waukegan Savings Bank
Waukegan Savings Bank, Waukegan, IL: failed August 3, 2012
Waukegan Savings Bank in Waukegan, Illinois, failed on August 3, 2012. First Midwest Bank of Itasca, IL, took over its deposits. It held $83.7 million in assets and $73 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $23.5 million (28.1% of its assets). By assets it was the 39th largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- August 3, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Midwest Bank, Itasca, IL
- Total assets
- $83,679,000
- Total deposits
- $73,001,000
- Estimated cost to the FDIC
- $23,518,002 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- DIF
- FDIC certificate
- 28243
Other bank failures in Illinois, 2010 to 2014
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The National Republic Bank of Chicago | Chicago | October 24, 2014 | $843.1 million | $809.6 million | $54.4 million | State Bank of Texas |
| Greenchoice Bank, FSB | Chicago | July 25, 2014 | $70.3 million | $68.7 million | $18.4 million | Providence Bank, LLC |
| Valley Bank | Moline | June 20, 2014 | $456.4 million | $360 million | $47.8 million | Great Southern Bank |
| Aztecamerica Bank | Berwyn | May 16, 2014 | $66.3 million | $65 million | $21.7 million | Republic Bank of Chicago |
| Dupage National Bank | West Chicago | January 17, 2014 | $53.5 million | $51.9 million | $1.5 million | Republic Bank of Chicago |
| Covenant Bank | Chicago | February 15, 2013 | $58.4 million | $54.2 million | $19.6 million | Liberty Bank and Trust Company |
| 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 |
Other failed banks First Midwest Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Palos Bank and Trust Company | Palos Heights | IL | August 13, 2010 | $493.4 million | $467.8 million | $67 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 2012 · 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.