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Federal Deposit
Insurance Corporation

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

Failed Bank Information for Farmers’ & Traders’ State Bank, Shabbona, IL

On Friday, June 8, 2012, Farmers’ & Traders’ State Bank was closed by the Illinois Department of Financial and Professional Regulation. The FDIC was named Receiver. First State Bank, Mendota, IL acquired all deposit accounts.

The FDIC as Receiver for Farmers’ & Traders’ State Bank, Shabbona, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on November 5, 2018 and has made all dividend distributions required by law.

Effective May 1, 2019, 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: May 1, 2019


Notice of Intent to Terminate

Publication Date: November 5, 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: FIRST STATE BANK

About First State Bank

All deposit accounts, including brokered deposits, were transferred to First State Bank, Mendota, IL ("assuming institution"). Former Farmers’ & Traders’ State Bank locations reopened as branches of First State Bank.

Your transferred deposits were separately insured from any accounts you may have already had at First State Bank for at least six months after the failure of Farmers’ & Traders’ 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 First State Bank as long as the deposits are not pledged as collateral for loans.

Contacting First State Bank

You can contact First State Bank:

First State Bank
706-8 Washington Street
Mendota, IL 61342

First State Bank (www.firststatebank.biz)

Transaction Documentation

Purchase & Assumption Agreement - PDF (3Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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