Closed Friday, July 27, 2001 · Hinsdale, Dupage County, Illinois
Superior Bank, FSB
Superior Bank, FSB was the largest of the 4 bank failures in 2001. In the three years to the first quarter of 2000, its assets grew 109%. Equity capital was below zero at its last report.
On the books, 1993 to 2001
Total assets peaked at $2.3 billion and were 22% lower at the final report. Equity capital had covered 5.8% of assets in the third quarter of 1993. The deepest annual loss, $101 million, was booked in 2001 in only part of the year.* 2001: January to June only, the last report before closing.
Size against the other 2001 failures
Total assets of each 2001 failure, log scale; Superior Bank in red.
Within Illinois it ranks seventh by size of the 185 failures recorded since 1934. Across the failures of 2001, the median estimated loss came to 11% of assets. Ranked by estimated loss, it is 140th of 2,944 failures since 1934. The next-largest failure of that year was Sinclair National Bank of Gravette, Arkansas ($29.8 million, loss 14% of assets). Every 2001 failure in the explorer.
Failures in Illinois
The previous failure there was The National State Bank of Metropolis of Metropolis, on December 14, 2000. The next was Universal Federal Savings Bank of Chicago, on June 27, 2002. Dupage County has 5 failed banks on FDIC record since 1934. The others: Cooperative Federal Savings and Loan Association (1991), First DuPage Bank (2009), The Bank of Commerce (2011), DuPage National Bank (2014).