Failed Bank Report: Claim FDIC Insured Accounts at Failed Banks

Palos Bank and Trust Company - Palos Heights, IL

Illinois  search for missing money or a lost bank account at Palos Bank and Trust Company

IL missing money search

Unclaimed  bank account search - Illinois' Palos Bank and Trust Company

August 13, 2010: Palos Bank and Trust Company, Palos Heights, IL was closed by the Illinois Department of Financial and Professional Regulation - Division of Banking. The Federal Deposit Insurance Corporation was named receiver.

Successor Bank: All deposit accounts, including brokered deposits, have been transferred to First Midwest Bank, Itasca, Illinois. The five branches of Palos Bank and Trust Company reopened as branches of First Midwest Bank. Depositors of Palos Bank and Trust Company automatically became depositors of First Midwest Bank.

First Midwest Bank
One Pierce Place, Suite 1500
Itasca, IL 60143

History: Established as Palos State Bank
Changed name to Palos Bank And Trust Company

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 or safe deposit box go to: Unclaimed Money Search

 

 

 

2010 FDIC Insured Failed Banks
 
 
 
 
Palos Bank and Trust Company
12600 South Harlem Avenue
Palos Heights, IL 60463

 
 

Established
as
Palos State Bank
 

 
 
 
 
Cost to FDIC: $72 million

 

 
 

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