Six State Banks Fail, One In Chicago Area

By Marcus Gilmer in News on Jul 3, 2009 2:30PM

It was a bad day for Illinois banks yesterday as six banks across the state failed. According to the FDIC, the banks that failed were:

• Founders Bank, Worth, IL
• The Elizabeth State Bank, Elizabeth, IL
• The First National Bank of Danville, Danville, IL
• Rock River Bank, Oregon, IL
• The First State Bank of Winchester, Winchester, IL
• The John Warner Bank, Clinton, Illinois

Chicago-based PrivateBank took on the assets of Founders Bank, according to Crain's, meaning all 11 area branches of Founders will reopen on Monday as PrivateBank Branches.