Failed Bank Information for ShoreBank, Chicago, IL
On Friday, August 20, 2010, ShoreBank was closed by the The Illinois Department of Financial & Professional Regulation. The FDIC was named Receiver. Urban Partnership Bank, Chicago, IL acquired all deposit accounts.
The FDIC as Receiver for ShoreBank, Chicago, 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 3, 2020 and has made all dividend distributions required by law.
Effective July 1, 2020, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Effective Date: July 1, 2020
Publication Date: February 3, 2020
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: URBAN PARTNERSHIP BANK
About Urban Partnership Bank
All deposit accounts, excluding certain brokered deposits, were transferred to Urban Partnership Bank, Chicago, IL ("assuming institution"). Former ShoreBank locations reopened as branches of Urban Partnership Bank.
Your transferred deposits were separately insured from any accounts you may have already had at Urban Partnership Bank for at least six months after the failure of ShoreBank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Urban Partnership Bank as long as the deposits are not pledged as collateral for loans.
Contacting Urban Partnership Bank
On January 28, 2019, Urban Partnership Bank merged with Providence Bank & Trust.
You can contact Providence Bank & Trust:
Providence Bank & Trust
630 East 162nd Street
South Holland, IL 60473
Providence Bank & Trust (www.providence.bank/)
Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank