Meridian Bank

Who: Meridian Bank

What: 15^th bank failure of 2008 (Oct. 10, 2008)

Where: Eldred, Illinois

Why: Risky loans.

Fast Facts: National Bank of Hillsboro, Illinois assumed all deposits from Meridian Bank; as of Sept. 25, 2008, Meridian Bank had $39.18 million in total assets and $36.88 million in total deposits...National Bank purchased $7.55 million of those assets; Meridian is the first bank to close in Illinois since Universal FSB of Chicago in June 2002.

View the press release