First Midwest acquires Waukegan Savings Bank - Chicago News and Weather | FOX 32 News

First Midwest acquires Waukegan Savings Bank

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CHICAGO (FOX 32 News) -

Federal regulators have seized the assets of the Waukegan Savings Bank.

The bank was taken over Friday by the FDIC because of financial problems. It is the sixth bank in Illinois to fail this year.

Waukegan Savings will now be run by the First Midwest Bank of Itasca.

All accounts are insured up to $250,000.

People with loans to First Waukegan Savings should continue to make their payments.

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