Government closes Rock River Bank: Four branches to reopen Monday as Harvard State Bank
OREGON – Rock River Bank was closed today by the Illinois Department of Financial and Professional Regulation, Division of Banking, which appointed the Federal Deposit Insurance Corporation as receiver.
To protect the depositors, the FDIC entered into a purchase and assumption agreement with The Harvard State Bank to assume all of the deposits of Rock River Bank.
The four offices of Rock River Bank will reopen on Monday as branches of The Harvard State Bank. Depositors of Rock River Bank will automatically become depositors of The Harvard State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.
Over the weekend, depositors of Rock River Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-591-2903 or visit www.fdic.gov/bank/individual/failed/rockriver.html on the Web.
