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Old Plank Trail Bank Healthy; Assumes Deposits on Regulator-Closed Bank

First United Bank in Crete is closed by state regulators. New Lenox-based Old Plank Trail Bank assumes its deposits.

Financial complications in the portfolio of First United Bank in Crete caught the eye of State Bank Regulators, who closed the bank on Sept. 28. 

First United Bank's $316 million in deposits were assumed by Old Plank Trail Bank in New Lenox, according to a Sept. 28 story in the SouthtownStar

Old Plank Trail Bank is healthy. It has branches in Frankfort, Orland Park and Mokena.

Customers from First State Bank can check on the status of their accounts by contacting the FDIC for more specific information on the Crete-based facility.

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Jennifer Malone September 30, 2012 at 05:46 PM
The First United Bank branch locaed on route 30 was a staple in the Frankfort community. It's manager and staff are the BEST and Old Pank Trail better embrace them!
Paul Schmitz September 30, 2012 at 07:38 PM
I second that emotion! :-)
Mike Fangman October 01, 2012 at 05:21 PM
I wish Ivent hadn't been blocked here so I could read her inane NWO/Illuminati conspiracy theory on why a small bank in south suburban Chicago failed. (just kidding)

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