Ravenswood Bank Taken Over by FDIC

A news report from Mike Fourcher, Center Square Journal

Last night Ravenswood Bank, 2300 W. Lawrence Ave., was taken over by the Illinois Department of Financial and Professional Regulation and put into the receivership of the Federal Deposit Insurance Corporation (FDIC). Ravenswood’s doors opened again this morning as branches of Northbrook Bank and Trust Company, a division of WinTrust Financial Corporation.

Ravenswood Bank is the thirteenth bank in Illinois to fail and the third in Center Square. Corus Bank, which had a branch on Lawrence and Western, closed on September 11, 2009, and became part of MB Financial. Lincoln Park Savings Bank was closed on April 23, 2010, and is also now part of Northbrook Bank and Trust Company.

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