The FDIC arranged for Morton Community Bank, Morton, IL to assume all the deposits of the failed bank. Citizens National Bank, of Macomb, IL, also closed and appointed the FDIC as receiver. The failed bank had assets of $437 million and deposits of $400 million. The cost to FDIC’s Deposit Insurance Fund (DIF) will be $173 million. Morton Community bank also bought $240 million of failed bank’s assets. The bank was to reopen today as a branch of Midland States Bank.”]
Source: https://www.cuinfosecurity.com/two-illinois-banks-fail-a-1492