OCC Appoints FDIC Receiver for National Bank of Commerce

WASHINGTON — The Office of the Comptroller of the Currency (OCC) today appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for National Bank of Commerce, Berkeley, Illinois. National Bank of Commerce's primary market was the Chicago area. The bank, with approximately $418 million in assets at December 31, 2008, was originally established in 1966.

The OCC acted after finding that the bank was critically undercapitalized and had no reasonable prospect of becoming adequately capitalized. The FDIC will release information about the resolution of the bank.