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Failed Bank Information for Founders Bank, Worth, IL

On Thursday, July 2, 2009, Founders Bank was closed by the Illinois Department of Financial and Professional Regulation, Division of Banking. The FDIC was named Receiver. The PrivateBank and Trust Company, Chicago, IL acquired all deposit accounts.

The FDIC as Receiver for Founders Bank, Worth, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on July 1, 2022 and has made all dividend distributions required by law.

Effective October 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: October 1, 2022


Notice of Intent to Terminate

Publication Date: July 1, 2022

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: THE PRIVATEBANK AND TRUST COMPANY

About The PrivateBank and Trust Company

All deposit accounts were transferred to The PrivateBank and Trust Company, Chicago, IL ("assuming institution"). Former Founders Bank locations reopened as branches of The PrivateBank and Trust Company.

Your transferred deposits were separately insured from any accounts you may have already had at The PrivateBank and Trust Company for at least six months after the failure of Founders Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with The PrivateBank and Trust Company as long as the deposits are not pledged as collateral for loans.

Contacting The PrivateBank and Trust Company

The PrivateBank and Trust Company has changed its legal name and is currently doing business as CIBC Bank USA.

You can contact CIBC Bank USA:

CIBC Bank USA
120 S La Salle St
Chicago, IL 60603

CIBC Bank USA (us.cibc.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (0.5Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank