The Illinois Department of Financial Institutions closed the $37.8 million-asset All American Bank in Des Plaines on Friday.

The Federal Deposit Insurance Corp. sold the bank's assets to the $237 million-asset International Bank of Chicago, which also agreed to assume the six-year-old bank's $33.4 million in deposits.

The FDIC said in a press release that the failure would cost the Deposit Insurance Fund $6.5 million. It was the 85th bank to close in 2011.

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