2017 FDIC Insured Failed Banks |
January 27, 2017: Seaway Bank and Trust Company, Chicago, IL was closed by
the Illinois Department of Financial & Professional Regulation - Division
of Banking. The Federal Deposit Insurance Corporation (FDIC) was named
Receiver. Successor Bank: All deposit accounts, including brokered deposits, have been transferred to State Bank of Texas, Dallas, TX
State
Bank of Texas History:
Established
in 1965 as Seaway National Bank of Chicago
► 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 Account Search |
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Seaway Bank & Trust
645 East 87th Street Chicago, IL 60619 |
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Established as Seaway National Bank of Chicago |
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Cost to FDIC: $57 million |
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