FDIC Ends New City Bank Receivership: Assets Sold, Case Closed
Published Date: 2/24/2025
Notice
Summary
The FDIC is wrapping up its work with New City Bank in Chicago and plans to officially end the receivership at least 30 days after this notice. They’ve finished selling off the bank’s assets and will pay back creditors as much as possible. If anyone wants to share their thoughts about ending this process, they need to write in within 30 days.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Final Dividend for Proven Creditors
If you are a proven creditor of New City Bank (Chicago, IL; receivership appointed 03/09/2012), the FDIC says it has completed liquidation and will make a final dividend payment to proven creditors to the extent permitted by available funds. The FDIC also intends to terminate the receivership no sooner than 30 days after this notice (dated February 18, 2025).
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