US regulators close banks in Illinois and Maryland
WASHINGTON: US bank regulators closed
Bank of Illinois of Normal, Illinois and Waterfield Bank of Germantown, Maryland
on Friday as deteriorating loans continued taking a toll on financial
institutions.
The Federal Deposit Insurance Corp said Bank of
Illinois had $211.7 million in assets and $198.5 million in deposits.
Heartland Bank and Trust of Bloomington, Illinois agreed to assume
the deposits of Bank of Illinois, whose two branches will reopen on Saturday as
branches of Heartland.
