Lincoln Park Savings Bank Fails

By Hunter Clauss | Monday, April 26, 2010

Photo by Mark Susina.

Broadway Bank wasn’t the only Illinois bank to fail on Friday. Federal regulators shut down six other banks.?One of those failed banks was Lincoln Park Savings Bank, which operated four branches, including two near the intersection of Irving Park Road and Damen Avenue. Northbrook Bank and Trust Company has agreed to take over Lincoln Park Bank, which had $171.5 million in total deposits and $199.9 million in total assets. The failure of Lincoln Park Bank is expected to cost the Federal Deposit Insurance Corporation $48.4 million.

The number of bank failures this year now stands at 57.

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