The receivership of Heritage Community Bank, Glenwood, Ill., was terminated July 1 by the Federal Deposit Insurance Corp. (FDIC), according to a notice for the Federal Register.
The bank was closed in February 2009 by the Illinois financial institutions regulator, which named the FDIC as receiver. As receiver, the FDIC was charged with the duty of winding up the affairs of the former institution and liquidating all related assets. The FDIC entered into a purchase-and assumption agreement with MB Financial Bank, N.A., Chicago, Ill., to assume all of the deposits of Heritage Community Bank.
At the time, Heritage had about $232.9 million in assets and $218.6 million in deposits.