The Federal Deposit Insurance Corporation announced its decision to close three more banks that failed to endure economic crisis shocks. The closure of one large bank in Illinois and two other smaller financial institutions on Friday pushed the bank failure tally to 92 during financial year 2009.

However, customer needs not to worry about as they are protected under FDIC bank deposits cover for amount up to $250,000. Illinois witnessed failure of 16 banks, since the onslaught of the global financial crisis.

One of the leading banks among these 16 is the Chicago-based Corus Bank, which was closed by the Office of the Comptroller of the Currency on Friday. The bank, having
11 branches, had total assets of around $7 billion as per regulator, FDIC.

The Chicago-based MB Financial Bank is going to acquire all of the failed bank's deposits. Much of Corus' assets are condo loans which are expected to be sold by FDIC within the next month. Mitchell Feiger, Chief Executive of MB Financial, said: "This is our third FDIC transaction this year and we are pleased to provide a safe and secure home at MB for Corus customers."

Brickwell Community Bank, which operated one branch in Woodbury, was also closed down by authorities. Mitchell, S. D.-based CorTrust Bank has announced to purchase its $63 million deposits and remaining assets.

First-Citizens Bank & Trust Company in Raleigh, N. C. will take over the deposits of yet another failed lender, Venture Bank of Lacy.