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Illinois

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Two More Banks Bite the Dust 

May 26, 2009By

Two Illinois Banks, holding combined assets of $974 million, were shut down Friday by federal regulators, marking the 35th and 36th US bank failures of 2009. Strategic Capital Bank and Citizens National Bank were both placed in receivership of the Federal Deposit Insurance Corporation. On behalf of Strategic Capital, the FDIC entered into a purchase and assumption agreement with Midland States Bank to assume all of Strategic Capital’s deposits, totaling approximately $471m.