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.

View the press release