Failed Bank Information for Legacy Bank, Milwaukee, WI
On Friday, March 11, 2011, Legacy Bank was closed by the State of Wisconsin Department of Financial Institutions, Division of Banking. The FDIC was named Receiver. Seaway Bank and Trust Company, Chicago, IL acquired all deposit accounts.
The FDIC as Receiver for Legacy Bank, Milwaukee, WI has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on March 30, 2022 and has made all dividend distributions required by law.
Effective September 1, 2022, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Effective Date: September 1, 2022
Publication Date: March 30, 2022
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: SEAWAY BANK AND TRUST COMPANY
About Seaway Bank and Trust Company
All deposit accounts, excluding certain brokered deposits, were transferred to Seaway Bank and Trust Company, Chicago, IL ("assuming institution"). Former Legacy Bank locations reopened as branches of Seaway Bank and Trust Company.
Your transferred deposits were separately insured from any accounts you may have already had at Seaway Bank and Trust Company for at least six months after the failure of Legacy Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Seaway Bank and Trust Company as long as the deposits are not pledged as collateral for loans.
Contacting Seaway Bank and Trust Company
On 01/27/2017, Seaway Bank and Trust Company merged with State Bank of Texas.
You can contact State Bank of Texas:
State Bank of Texas
11950 Webb Chapel Road
Dallas, TX 75234
State Bank of Texas (statebnk.com)
Purchase & Assumption Agreement - PDF (10.37 Mb)
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank