Failed Banks

26 - Closed by state regulators was The Bank of Commerce, Wood Dale, III. Appointed receiver, the FDIC entered into a purchase and assumption agreement with Advantage National Bank Group, Elk Grove Village, III., to assume all of the deposits. In addition to paying a premium of 0.10 percent to assume all of the deposits of the failed bank, Advantage National Bank Group agreed to purchase essentially all of the assets. A loss-share transaction covers $145.7 million of the failed bank's assets. The FDIC estimates that the cost to the Deposit Insurance Fund will be $41.9 million.

27 - All deposits of Western Springs (III.) National are being acquired by Heartland Bank and Trust Co., Bloomington, III. In addition to assuming all of the deposits, Heartland Bank agreed to purchase essentially all of the assets with a loss-share transaction on $100.8 million of Western Springs National's commercial loans. Cost to the DIF will be $31 million.

28 - Nevada Commerce Bank, Las Vegas, was closed and the FDIC, as receiver, entered into a purchase and assumption agreement with City National, Los Angeles, to assume all of the deposits. In addition to paying a premium of 0.71 percent to assume all of the deposits of the failed bank, City National agreed to purchase essentially all of the failed bank's assets. Cost to the DIF will be $31.9 million.