On Friday, January 27, 2017, Seaway Bank and Trust Company was closed by the Illinois Department of Financial & Professional Regulation - Division of Banking. The FDIC was named Receiver. State Bank of Texas, Dallas, TX acquired all deposit accounts, including brokered deposits.
The FDIC as Receiver for Seaway Bank and Trust Company, Chicago, IL has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 28, 2024 and has made all dividend distributions required by law.
Effective October 1, 2024, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Effective Date: October 1, 2024
Notice of Intent to Terminate
Publication Date: February 28, 2024
Balance Sheet
Report on assets and liabilities
Dividend Information
Report on dividends paid
Beware of Scams
If you are concerned about becoming a victim of fraud, be advised that you will not receive any communication from the FDIC requesting any private information. Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating they are acting on behalf of Seaway Bank and Trust Company, State Bank of Texas, or the FDIC. The FDIC, however, will encourage you to correspond with us via the Failed Bank Customer Service Center (FBCSC), a secure web portal.
TRANSACTION DOCUMENTATION
Purchase & Assumption Agreement
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank
BankFind Suite: Find Institutions by Name & Location
BankFind Suite allows you to locate the failed bank by name or FDIC certificate number.