The first bank to fail today is Valley Community Bank in Illinois. It's the 23rd failure in the nation for the year and 2nd in Illinois.FDIC press release
Valley Community Bank, St. Charles, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First State Bank, Mendota, Illinois, to assume all of the deposits of Valley Community Bank.
I'll have more on this failure, this week's credit union liquidation and all additional failures that may happen later in my blog post bank failure summary tonight.