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CHARLOTTE, N.C. (AP) - Regulators on Friday shut down Strategic Capital Bank in Illinois, marking the 35th failure this year — and second this week — of a federally insured bank.
The Federal Deposit Insurance Corp. was appointed receiver of the bank, based in Champaign, Ill. It had $537 million in assets and $471 million in deposits as of May 13.
The closure was the second this week, after the federal regulators seized struggling Florida thrift BankUnited FSB on Thursday. That closure is expected to cost the FDIC $4.9 billion, representing the second-largest hit to the FDIC's insurance fund since the financial crisis began felling banks last year.
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