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posted: 11/3/2012 5:45 PM

Regulators close Citizens First National Bank

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Daily Herald Staff

Federal regulators closed Citizens First National Bank, which has branches in Aurora, Plainfield, Huntley and Hampshire, government officials said Saturday.

The Princeton-based bank was taken over by the Federal Deposit Insurance Corp. Friday evening. Citizens First had $924 million in assets and $869.4 million in deposits as of Sept. 30, according to an FDIC statement.

Heartland Bank and Trust Co., based in Bloomington, took over Citizens First's assets and essentially all of its deposits, the FDIC said.

The agency said Citizens First customers can access their money during the weekend by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed, and loan customers should continue to make their payments as usual, according to the agency.

Citizens First has roots back to 1865 and was created from the merger of three local banks to preserve the local economy following the stock market crash of 1929, according to the bank's website.

Its suburban branches include 12101 Regency Parkway in Huntley, 1575 W. Ogden Ave. in Aurora and 819 Warner St. in Hampshire, and 14429 S. Wallin Dr. in Plainfield.

The FDIC also closed a bank in Florida Friday, bringing the total number of bank failures in the U.S. to 49 this year. Citizens First is the eighth bank in Illinois to close this year.

• Daily Herald wire services contributed to this report.

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