Business & Tech
Western Springs National Bank Fails, Taken Over
Federal regulators closed the bank on Friday and yield control to Bloomington-based Heartland National.
Western Springs National Bank & Trust was closed by federal regulators on Friday, according to a report by Crain's Chicago Business.
The bank will be taken over by Bloomington-based Heartland Bank & Trust Co. Both the Western Springs and Countryside branches will reopen on Saturday as branches of Heartland.
In October of last year, the Moser family, who owned half the bank, , owners of the other half. According to Crain's, both families will now lose their equity.
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Read the full report, including financial data, at chicagobusiness.com.
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