Pulaski Savings Bank in Chicago closed due to financial instability, acquired by Millennium Bank.

Illinois regulators and the FDIC closed Pulaski Savings Bank in Chicago on January 17 due to its unsafe financial condition. The bank, founded in 1890 with assets of about $49 million, will not disrupt service for its customers as Millennium Bank, another Illinois institution, agreed to purchase it. This closure marks the first bank failure of 2025, occurring amid predictions that higher interest rates could cause many small lenders to fail.

2 months ago
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