FDIC Shuts Down Receivership for Defunct Chicago Bank
Published Date: 6/5/2025
Notice
Summary
The FDIC has officially closed the receivership for New City Bank in Chicago as of June 1, 2025. This means all the bank’s affairs are wrapped up, all money owed has been paid out, and the receivership no longer exists. If you were involved, no more actions or claims will be processed, so it’s a clean finish!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
All required dividend distributions made
The FDIC, as Receiver for New City Bank, states it has fulfilled its obligations and made all dividend distributions required by law prior to terminating the receivership on 06/01/2025. If you were owed a distribution from this receivership, the FDIC reports those distributions were completed.
New City Bank receivership terminated
The FDIC terminated the receivership for New City Bank in Chicago, IL effective 06/01/2025. The Receiver has been discharged and the receivership has ceased to exist as a legal entity.
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