All American Bank Fails; 2011 Tally at 85

The Illinois Department of Financial and Professional Regulation on Friday shuttered All American Bank of Des Plaines, bringing this year's total number of bank failures to 85.

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The failed bank was previously included in TheStreet's second-quarter Bank Watch List of undercapitalized institutions, based on regulatory data provided by SNL Financial.

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All American Bank had $37.8 million in total assets and $33.4 million in deposits when it failed. The Federal Deposit Insurance Corp. was named receiver and sold the failed institution to International Bank of Chicago. The failed bank's office was set to reopen during normal business hours as a branch of International Bank of Chicago.The FDIC estimated the cost of All American Bank's failure to the deposit insurance fund would be $6.5 million. Thorough Bank Failure CoverageGeorgia leads all states with 22 bank failures this year, followed by Florida, with 12 failures, and Illinois, with nine bank closures. There were four bank failures last Friday. All previous bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map:

The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark gray, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2011 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.RELATED STORIES: MF Global Fights for Survival >Vultures Circle MF Global: Financial Loser >Dodd Frank Victory as MF Global Avoids Contagion >Occupy Wall Street: Who Owns It? >5 Occupy Wall Street Leaders >Which Occupy Wall Street Demand Can Succeed?: Poll >Wall Street Fixer Goes to Washington >Big Banks Line Up Against Obama >Obama's Refinance Plan is a Lifeline Everyone Should Grab >-- To contact the writer, click here: Philip van Doorn.To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.

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