Federal officials close bank in Chicago suburb

October 23, 2010 4:00:50 PM PDT
First Suburban National Bank of Maywood was seized by federal regulators on Friday. The bank was closed. It reopened Saturday morning as Seaway Bank and Trust. First Suburban National Bank of Maywood's other three branches were also set to reopen as Seaway branches Saturday.

The Federal Deposit Insurance Corporation said late Friday that depositors of the First Suburban National Bank will be protected by the purchase deal with Seaway Bank and Trust.

First Suburban was among six banks in the Southeast and Midwest seized by regulators late Friday, raising the total number of bank failures to 138 this year.

The other banks closed Friday night were in Overland Park, Kan.; Jacksonville and Tampa, Fla.; and Gordon and Barnesville, Ga.

The Associated Press contributed to this report.


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