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The bank was founded in 1964. [1] On September 9, 2010, the Federal Deposit Insurance Corporation issued an order against the bank, citing "unsafe or unsound banking practices". [2] In 2011, the bank was acquired by Wintrust Financial for $13.75 million in cash and stock and its branches were re-branded as St. Charles Bank & Trust Company. [1 ...
In May 2019, Wintrust acquired Rush-Oak Corporation, the parent company of Oak Bank, an Illinois state-chartered bank which had approximately $201 million in assets. [12] In October 2019, Wintrust acquired STC Bancshares Corp, the parent company of STC Capital Bank, an Illinois state-chartered bank with approximately $275 million in assets. [13]
In the United States, a state bank is a bank in a U.S. state that is chartered by the government of that state, as opposed to a national bank which is chartered at the federal level. [ 1 ] [ 2 ] Overview
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Telhio is federally insured by the National Credit Union Administration (NCUA), which insures accounts in federal and most state-chartered credit unions in the United States up to $250,000. Additionally, Telhio carries Excess Share Insurance, which insures personal accounts an additional $250,000, for a total of $500,000 in deposit insurance.
The Elgin Academy, independently listed on the National Register of Historic Places (NRHP), was completed in 1856. Gail Borden, Jr., the inventor of condensed milk, opened the world's largest condensed milk factory in the world in the 1860s. Elgin's first bank, the First National Bank of Elgin, was founded in 1865.
The First Banc Group, Inc. was formed in 1968 as a holding company for City National Bank and was used as a vehicle to acquire other banks. As Ohio began to gradually relax its very restrictive Great Depression era banking laws that had severely restricted bank branching and ownership, City National Bank, through its First Banc Group parent, started to purchase banks outside of its home county.
Elgin (/ ˈ ɛ l dʒ ɪ n / EL-jin) is a city in Cook and Kane counties in the U.S. state of Illinois. It is located 35 mi (56 km) northwest of Chicago along the Fox River. As of the 2020 census, the city had a population of 114,797, making it the sixth-most populous city in the state. [4]