On Friday, October 22, 2010, First Suburban National Bank was closed by the Office of the Comptroller of the Currency. The FDIC was named Receiver. Seaway Bank and Trust Company, Chicago, IL acquired all deposit accounts.
The FDIC as Receiver for First Suburban National Bank, Maywood, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on August 28, 2017 and has made all dividend distributions required by law.
Effective February 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
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ACQUIRING INSTITUTION: SEAWAY BANK AND TRUST COMPANY
About Seaway Bank and Trust Company
All deposit accounts, excluding the Cede & Co. deposits, were transferred to Seaway Bank and Trust Company, Chicago, IL ("assuming institution"). Former First Suburban National Bank locations reopened as branches of Seaway Bank and Trust Company.
Your transferred deposits were separately insured from any accounts you may have already had at Seaway Bank and Trust Company for at least six months after the failure of First Suburban National Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Seaway Bank and Trust Company as long as the deposits are not pledged as collateral for loans.
Contacting Seaway Bank and Trust Company
On January 27, 2017, Seaway Bank and Trust Company merged with State Bank of Texas.
You can contact State Bank of Texas:
State Bank of Texas
11950 Webb Chapel Road
Dallas, TX 75234
State Bank of Texas (www.statebnk.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (2Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank