March 25, 2011: The Bank of Commerce, Wood Dale, IL was closed by
the Illinois Department of Financial & Professional Regulation-Division of
The Federal Deposit Insurance Corporation was named receiver.
Successor Bank: All deposit accounts, including brokered deposits, have been transferred to Advantage National Bank Group, Elk Grove Village, Illinois.
Advantage National Bank
History: Established in 1997 as The Bank Of Commerce
► Depositors must establish contact or the successor bank or the FDIC to reclaim their deposits. ► Not every depositor in a failed bank will receive notification from the FDIC, and there are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes. By law, accounts which go unclaimed for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. ► Additionally, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage.
► It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account.
► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Funds and Missing Monies Search
|2010 FDIC Insured Failed Banks|
The Bank of
171 East Irving Park Road
Wood Dale, IL 60191
|Cost to FDIC: $42 million|