FDIC Friday ~ 03-25-11
Posted: Sat Mar 26, 2011 7:47 amThe Bank of Commerce, Wood Dale, IL
As of December 31, 2010, The Bank of Commerce had approximately $163.1 million in total assets and $161.4 million in total deposits. In addition to paying a premium of 0.10% to assume all of the deposits of the failed bank, Advantage National Bank Group agreed to purchase essentially all of the failed bank's assets.
The FDIC and Advantage National Bank Group entered into a loss-share transaction on $145.7 million of The Bank of Commerce's assets. Advantage National Bank Group will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/fai ... index.html
As of December 31, 2010, The Bank of Commerce had approximately $163.1 million in total assets and $161.4 million in total deposits. In addition to paying a premium of 0.10% to assume all of the deposits of the failed bank, Advantage National Bank Group agreed to purchase essentially all of the failed bank's assets.
The FDIC and Advantage National Bank Group entered into a loss-share transaction on $145.7 million of The Bank of Commerce's assets. Advantage National Bank Group will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/fai ... index.html
