Illinois third leading state for bank failures
10/31/2011
Illinois banking regulators closed their ninth institution on Friday, October 27, giving them the third
most failures of any state in 2011, surpassed only by Georgia and Florida.
All American Bank, located in Des Plaines, with assets of $37.8 million at June 30, was rated E-
(''Very Weak'') by Weiss at the time of failure. It was first identified as ''Weak'' in
September 2005. The bank reported a loss of more than $1 million for the six months ending June 30.
All American had below-FDIC-mandated Tier 1 (5%) and risk-based capital (6%) ratios of 2.16% and 4.42%,
respectively. Nonperforming loans represented 22.9% of its loan portfolio.
International Bank of Chicago, with assets of $237.6 million and a Weiss Financial Strength Rating of C-
(''Fair''), assumed the deposits of All American Bank. International Bank has a risk-based capital ratio
of 17.54% (near the industry average) and low nonperforming loans to total loans of 1.54%. Also, the bank had
$2.5 million in net income through June 30, 2011 for an ROA of 2.12%, well above the industry average of 0.87%.