On Friday March 25 the FDIC seized another bank. This time it was The Bank of Commerce, Wood Dale, IL was closed by the Illinois Department of Financial & Professional Regulation-Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. Friday's seizure makes the 25th bank in 2011 to be closed by the federal agency.
All deposit accounts, including brokered deposits, have been transferred to Advantage National Bank Group, Elk Grove Village, IL and will be available immediately. The former Bank of Commerce location will reopen as a branch of Advantage National Bank Group during regular business hours on Monday March 28.
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