State and federal regulators shuttered ""All American Bank"":http://www.aabnk.com/ in Des Plaines, Illinois, over the weekend, bringing this year's ""failed-bank tally"":http://www.fdic.gov/bank/individual/failed/banklist.html to 85.
All American Bank operated just one branch location, with $33.4 million in deposits and assets totaling $37.8 million. The FDIC brokered a deal with ""International Bank of Chicago"":http://www.inbk.com to take over the failed lender's operations and purchase all of its assets.
The FDIC estimates that the Illinois bank's closing will cost its Deposit Insurance Fund $6.5 million. All American Bank is the ninth FDIC-insured institution in the state to go under this year.
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