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Security Savings Bank: 16th Bank Failure of 2009

Security Savings Bank of Henderson, Nevada  was closed by regulators Friday, marking the 16th bank failure of 2009. The Federal Deposit Insurance Corporation said the failed bank’s deposits have been assumed by Las Vegas-based Bank of Nevada. Security Savings Bank had $238.3 million in total assets and $175.2 million in deposits as of Dec. 31.

Heritage Community Bank: 17th

Heritage Community Bank of Glenwood, Illinois, was closed by the Illinois Department of the FDIC. Regulators entered into a purchase and assumption agreement with MB Financial Bank, N.A., Chicago, Illinois, to assume all of the deposits of the failed Bank.

Heritage Community Bank had total assets of $232.9 million and total deposits of $218.6 million. In addition to assuming all of the deposits of the failed bank, including those from brokers, MB Financial Bank agreed to purchase approximately $230.5 million in assets at a discount of $14.5 million. The FDIC will retain the remaining assets for later disposition.

Related posts:

1. Bank No. 37 Closed; Bank of Lincolnwood Seized by Regulators
2. Failure Fridays: Freedom Bank of Georgia Closed by Regulators
3. Failure Fridays: Silver Falls Bank Seized
4. Failure Fridays: Third Bank Fails Today, Number 12 for the Year
5. Failure Fridays: Two More Banks Bite The Dust