State regulators closed $214 million-asset Bank of Lincolnwood, in Illinois, late Friday and sold its deposits and most of its assets to nearby Republic Bank of Chicago.
The Federal Deposit Insurance Corp. said the failed bank's two branches will reopen Saturday as part of Republic, which is based in Oak Brook.
The acquirer agreed to assume all $202 million of Bank of Lincolnwood's deposits, and also buy about $162 million of its assets.
The failure, the industry's 37th and Illinois' sixth this year, is estimated to cost the FDIC $83 million.
