Corn Belt Bank and Trust Company
Who: Corn Belt Bank and Trust Company
What: 12th bank failure of 2009 (Feb. 13, 2009)
Where: Pittsfield, Illinois
Why: Bad loans.
Fast Facts: The Carlinville National Bank, Carlinville, Illinois assumed all deposits from Corn Belt Bank and Trust Company; as of December 31, 2008, Corn Belt Bank and Trust Company had total assets of approximately $271.8 million and total deposits of $234.4 million. Corn Belt Bank is the second bank to fail in Illinois to fail this year--National Bank of Commerce, Berkeley failed on January 16, 2009.
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