Antioch bank among 3 shut down by federal regulators
WASHINGTON -- An Antioch bank was among three shut down by federal regulators Friday, bringing to four the number of bank failures so far in 2010, following 140 closures last year amid the weak economy and mounting loan defaults.
The Federal Deposit Insurance Corp. on Friday took over Town Community Bank and Trust, based in Antioch, Ill., with $69.6 million in assets and $67.4 million in deposits.
The agency also seized two smaller banks: Barnes Banking Co., based in Kaysville, Utah, with $827.8 million in assets and $786.5 million in deposits, and St. Stephen State Bank of St. Stephen, Minn., with $24.7 million in assets and $23.4 million in deposits.
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