On Thursday, July 2, 2009, Founders Bank was closed by the Illinois Department of Financial and Professional Regulation, Division of Banking. The FDIC was named Receiver. The PrivateBank and Trust Company, Chicago, IL acquired all deposit accounts.
The FDIC as Receiver for Founders Bank, Worth, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on July 1, 2022 and has made all dividend distributions required by law.
Effective October 1, 2022, 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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Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to
obtain information from you.
ACQUIRING INSTITUTION: THE PRIVATEBANK AND TRUST COMPANY
About The PrivateBank and Trust Company
All deposit accounts were transferred to The PrivateBank and Trust Company, Chicago, IL ("assuming institution"). Former Founders Bank locations reopened as branches of The PrivateBank and Trust Company.
Your transferred deposits were separately insured from any accounts you may have already had at The PrivateBank and Trust Company for at least six months after the failure of Founders Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with The PrivateBank and Trust Company as long as the deposits are not pledged as collateral for loans.
Contacting The PrivateBank and Trust Company
The PrivateBank and Trust Company has changed its legal name and is currently doing business as CIBC Bank USA.
You can contact CIBC Bank USA:
CIBC Bank USA
120 S La Salle St
Chicago, IL 60603
CIBC Bank USA (us.cibc.com)
Transaction Documentation
Purchase & Assumption Agreement - PDF (0.5Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank