The Federal Deposit Insurance Corporation (FDIC) took over 9 banks on Friday, October 30, 2009. These closings bring the total for the year to 115. The banks closed are located in Arizona, California, Illinois, and Texas. The banks include North Houston Bank, Houston, Texas, Madisonville State Bank, Madisonville, Texas, Citizens National Bank, Teague, Texas, Park National Bank, Chicago, Illinois, Pacific National Bank, San Francisco, California, California National Bank, Los Angeles, California, San Diego National Bank, San Diego, California, Community Bank of Lemont, Lemont, Illinois, and Bank USA, NA, Phoenix, Arizona.
The FDIC entered into a purchase and assumption agreement with U.S. Bank, NA, of Minneapolis, Minnesota, a wholly-owned subsidiary of U.S. Bancorp, to assume all of the deposits and essentially all of the assets of nine failed banks. The nine banks were closed on October 30, 2009 by federal and state bank regulators, which appointed the FDIC as receiver.
The nine banks involved in the deal with U.S. Bank are:
- Bank USA, National Association, Phoenix, Arizona
- California National Bank, Los Angeles, California
- San Diego National Bank, San Diego, California
- Pacific National Bank, San Francisco, California
- Park National Bank, Chicago, Illinois
- Community Bank of Lemont, Lemont, Illinois
- North Houston Bank, Houston, Texas
- Madisonville State Bank, Madisonville, Texas
- Citizens National Bank, Teague, Texas
As of September 30, 2009, the banks had combined assets of $19.4 billion and deposits of $15.4 billion.
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