Regulators close bank in Illinois

WASHINGTON — Regulators have closed a small lender in Illinois, making it the first U.S. bank failure of 2014 following 24 closures last year.

The Federal Deposit Insurance Corp. said Friday it has taken over DuPage National Bank, based in West Chicago, Ill.

The lender, which operated three branches, had about $61.7 million in assets and $59.6 million in deposits as of Sept. 30.

Republic Bank of Chicago, based in Oak Brook, Ill., agreed to pay the FDIC a premium of 1.20 percent to assume all of DuPage National Bank’s deposits.

Republic Bank also agreed to buy essentially all of the failed bank’s assets.

The failure of DuPage National Bank is expected to cost the deposit insurance fund $1.6 million.

More in Herald Business Journal

Happy accident leads Edmonds couple to make Hunniwater drink

The latest line of energy drinks by Karin and Eric… Continue reading

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

Don’t rely just on productivity measurements to value a worker

The controversies swirling around the productivity data at the national level are… Continue reading

Career Fair planned next week at Tulalip Resort Casino

The Snohomish County Career Fair is planned from 10 a.m. to 2… Continue reading

American Farmland Trust president to speak in Mount Vernon

American Farmland Trust President John Piotti plans to give a talk about… Continue reading

Agent joins Re/Max in Smokey Point

Dennis Roland joined the Re/Max Elite Smokey Point office. The Navy veteran… Continue reading

In space capsules today, little room but big improvement

Boeing and SpaceX are relying on a tried-and-true design as they each develop new spacecraft.

First Boeing KC-46 delivery to Air Force slides into 2018

Certification milestones have been missed, and problems have emerged in flight test, a source says.

SEC reveals hack, possibility info was used for trading

The regulatory agency said the hack was discovered last year.

Most Read