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STATE BANK OF PAW PAW, ILLINOIS - fdic

STATE BANK OF PAW PAW, ILLINOIS - fdic 2025

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The document is a Consent Order issued by the Federal Deposit Insurance Corporation (FDIC) and the Illinois Department of Financial and Professional Regulation against the State Bank of Paw Paw, Illinois. It outlines various corrective actions the bank must take to address unsafe banking practices and regulatory violations related to management, capital adequacy, asset quality, liquidity, and compliance with laws. The order mandates the retention of qualified management, development of a management plan, adherence to lending policies, improvement of financial practices, and regular reporting on progress towards compliance.

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What banks arent FDIC insured?

Credit Unions: Federal credit unions are not insured by the FDIC but have equivalent insurance from the National Credit Union Administration (NCUA). Foreign Banks: Banks outside the United States will not carry FDIC insurance, though they may have their own countrys deposit insurance.

How to check if a bank is FDIC insured?

The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments are purchased at an insured bank.

Is State Bank FDIC insured?

State Bank is an FDIC insured financial institution that was founded in Lizton, Indiana in 1910. For the last 34 years, they have earned a 5-Star or 4-Star rating for excelling under an in-depth, independent analysis of its financial condition conducted by Bauer Financial, Inc.

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