Regulators close Founders Bank
July 23, 2009
By MoneyAisle
The Morris Daily Herald reports that the Founders Bank locations in Minooka and Channahon will reopen as branches of The PrivateBank.
Jorge Solis, director of banking for Illinois said, “State-chartered banks, which comprised the Founders Group, were closed as they were operated in an unsafe and unsound manner, and did not have sufficient capital to provide adequate protection to the depositors.”