The bank, which will be taken over by the International Bank of Chicago, had assets of $37.8 million. The only smaller bank to fail this year was Minnesota's Rosemount National Bank, according to the Problem Bank List.
The Wall Street Journal said Saturday that the International Bank of Chicago would buy all of its deposits and essentially all of its assets.
The cost of the closure to the Federal Deposit Insurance Corp. would be $6.5 million, the Journal reported.
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