BANK.......BUST......FRIDAY !!!!!!

Bank Closing Information - September 11, 2009
These links contain useful information for the customers and vendors of these closed banks.

Venture Bank, Lacey, WA
Brickwell Community Bank, Woodbury, MN
Corus Bank, N.A., Chicago IL


www.fdic.gov

I usually pop over to LBN for these but have been hanging out there tonight. :)

Gonna cost the taxpayers some billions.

Regulators seize Corus Bankshares, sell deposits to MB Financial
Failure will cost insurance fund $1.7 billion

By Becky Yerak
Tribune reporter

7:24 p.m. CDT, September 11, 2009


Corus Bank., which became one of Chicago's largest homegrown financial institutions by betting big on condominium development in Sun Belt states, was taken over by banking regulators on Friday.

The $7.07 billion-asset institution is the biggest Illinois bank to require government intervention since Continental Illinois in 1984 and the 16th bank to collapse statewide in 2009.

It's also the 91st bank; and the fourth biggest -- to fail nationwide so far in 2009.

Corus' deposits will be bought by Chicago-based MB Financial Bank. Corus marks its third acquisition of a failed bank so far this year. Corus' 11 branches will reopen on their next normally scheduled business day as MB branches. MB had about 70 branches before the Corus deal.

Corus' "attractively situated north side of Chicago branches" will help bridge the gap between MB's strong downtown presence and the northern suburbs, MB said. It also said Corus' River Forest, Wheeling, Calumet City and Niles locations complement MB suburban branch network.

The shutdown is expected to cost the Federal Deposit Insurance Corp. about $1.7 billion. ......(more)

The complete piece is at: http://www.chicagotribune.com/business/chi-corus-sept11,0,2478882.story

We saw that one coming.

Left the Olympia area in 2005, though. They might have gotten started since then.

I tried to search for something on them in Google, and came across the following:

"Venture Bank - Small is powerful" (link to their online banking portal)

No, no it isn't at all...