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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Failed Bank Information for The Elizabeth State Bank, Elizabeth, IL

On Thursday, July 2, 2009, The Elizabeth State Bank was closed by the Illinois Department of Financial and Professional Regulation. The FDIC was named Receiver. Galena State Bank and Trust Company, Galena, IL acquired all deposit accounts.

The FDIC as Receiver for The Elizabeth State Bank, Elizabeth, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 2, 2018 and has made all dividend distributions required by law.

Effective May 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination (www.federalregister.gov)

Effective Date: May 1, 2018


Notice of Intent to Terminate (www.federalregister.gov)

Publication Date: February 2, 2018

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: GALENA STATE BANK AND TRUST COMPANY

About Galena State Bank and Trust Company

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

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

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

Contacting Galena State Bank and Trust Company

On January 23, 2015, Galena State Bank and Trust Company merged with Illinois Bank and Trust.

You can contact Illinois Bank and Trust:

Illinois Bank and Trust
6855 East Riverside Boulevard
Rockford, IL 61114

Illinois Bank and Trust (www.illinoisbank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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