Failed Bank Information for The Bank of Commerce, Wood Dale, IL
On March 25, 2011, The Bank of Commerce, Wood Dale, IL was closed by the Illinois Department of Financial & Professional Regulation-Division of Banking. The FDIC was named Receiver. Advantage National Bank Group, Elk Grove Village, IL acquired all deposit accounts.
The FDIC as Receiver for The Bank of Commerce, Wood Dale, 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 22, 2017 and has made all dividend distributions required by law.
Effective April 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Notice of Termination (www.federalregister.gov)
Effective Date: April 1, 2018
Notice of Intent to Terminate (www.federalregister.gov)
Publication Date: November 22, 2017
Report on dividends paid
Official press release
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: ADVANTAGE NATIONAL BANK GROUP
About Advantage National Bank Group
All deposit accounts, including brokered deposits, were transferred to Advantage National Bank Group, Elk Grove Village, Il ("assuming institution"). Former Bank of Commerce locations reopened as branches of Advantage National Bank Group.
Your transferred deposits were separately insured from any accounts you may have already had at Advantage National Bank Group for at least six months after the failure of Bank of Commerce.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Advantage National Bank Group as long as the deposits are not pledged as collateral for loans.
Contacting Advantage National Bank Group
Legal name change:
Advantage National Bank Group has changed its legal name and is currently doing business as Schaumburg Bank & Trust Company, N.A.:
Schaumburg Bank & Trust
1180 E Higgins Rd
Schaumburg, IL 60173
Schaumburg Bank & Trust Company, N.A. (www.bankschaumburg.com)
Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank