Several More Banks Face Foreclosure in America

Three more banks been closed across the country, bringing the total number to 51 in this year alone.

Even though the First Chicago Bank & Trust of Chicago reportedly holds over $960 million in assets, it was closed this week by the Federal Deposit Insurance Corp. It has been reported that the deposits once held at the seven banks under the First Chicago umbrella will be distributed to Northbrook Bank & Trust Company of Northbrook, IL.

The second bank closed this month by the FDIC was Colorado Capital Bank of Castle Rock. The deposits will be assumed by the First Citizens Bank & Trust Company of Raleigh, NC. The Capital Bank also has seven branches which hold a total of $717.5 million. Additionally, a bank in Colorado, the Signature Bank of Windsor, closed its doors this month due to a federal intervention. It had just three branches that held $67 million in assets.

When your company is in danger of foreclosure or on the verge of business bankruptcy, you'll want to know what options you have at your disposal. To become aware of possible financial solutions, contact our law office today and arrange a time to speak with a Chicago bankruptcy attorney.