12 bank receiverships, half of them dating back to 2009, coming to an end

Receiverships for a dozen banks located in California, Georgia, Illinois, Missouri, Virginia, Wisconsin and Florida are slated for termination by the federal bank deposit insurer, according to an agency notice.

The Federal Deposit Insurance Corp. (FDIC), in the notice set to publish in Friday’s Federal Register, said it will conclude the receiverships in 30 days; anyone with comments about an of them needs to submit their comments to the agency before that period runs out.

Most of the receiverships flagged in this notice were initiated at the tail end and in the aftermath of the financial crisis. The banks are as follows:

  • County Bank, Merced, Calif., in receivership since Feb. 6, 2009;
  • Heritage Community Bank, Glenwood, Ill., in receivership since Feb. 27, 2009;
  • Freedom Bank of Georgia, Commerce, Ga., in receivership since March 6, 2009;
  • American Sterling Bank, Sugar Creek, Mo., in receivership since April 17, 2009;
  • Mutual Bank, Harvey, Ill., in receivership since July 31, 2009;
  • Benchmark Bank, Aurora, Ill., in receivership since Dec. 4, 2009;
  • Bank of Illinois, Normal, Ill., in receivership since March 5, 2010;
  • Imperial Savings and Loan Association, Martinsville, Va., in receivership since Aug. 20, 2010;
  • First Vietnamese American, Westminster, Calif., Nov. 5, 2010;
  • Evergreen State Bank, Stoughton, Wis., in receivership since Jan. 28, 2011;
  • Valley Bank, Fort Lauderdale, Fla., in receivership since June 20, 2014; and
  • Edgebrook Bank, Chicago, Ill., in receivership since May 8, 2015.

Notice to All Interested Parties of Intent to Terminate Receiverships