WASHINGTON — The Bank of Commerce in Wood Dale, Ill., became the nation's 26th failed bank of the year late Friday.
The Federal Deposit Insurance Corp. said the operations of the $163 million-asset bank were sold to Advantage National Bank Group in Elk Grove Village, Ill. Advantage National agreed to pay a 0.1% premium to assume all of the failed bank's $161 million in deposits. The acquirer will also purchase essentially all of The Bank of Commerce's assets.
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