Failed Bank Information for Strategic Capital Bank, Champaign, IL
On Friday, May 22, 2009, Strategic Capital Bank was closed by the Illinois Department of Financial and Professional Regulation, Division of Banking. The FDIC was named Receiver. Midland States Bank, Effingham, IL acquired all deposit accounts.
The FDIC as Receiver for Strategic Capital Bank, Champaign, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on June 23, 2022 and has made all dividend distributions required by law.
Effective November 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status
TERMINATED
Effective Date: November 1, 2022
Publication Date: June 23, 2022
Beware 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.
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: Midland States Bank
About Midland States Bank
All deposit accounts were transferred to Midland States Bank, Effingham, IL ("assuming institution"). Former Strategic Capital Bank locations reopened as branches of Midland States Bank.
Your transferred deposits were separately insured from any accounts you may have already had at Midland States Bank for at least six months after the failure of Strategic Capital Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Midland States Bank as long as the deposits are not pledged as collateral for loans.
Contacting Midland States Bank
You can contact Midland States Bank:
Midland States Bank
1201 Network Centre Dr
Effingham, IL 62401
Midland States Bank (www.midlandsb.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (1 Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank