WASHINGTON - The Office of the Comptroller of the Currency closed Eagle Bank of Champaign County in Illinois and appointed the Federal Deposit Insurance Corp. as receiver.

Busey Bank of Urbana, III., assumed $16.6 million in about 2,500 insured deposit accounts and agreed to purchase $17.7 million of the failed bank's $20 million of assets.

The Rantoul-based bank was critically undercapitalized and failed to submit an acceptable capital restoration plan, the Comptroller's office said.

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