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.