Real Estate – Closure of Corus Bank Chicago

Corus Bank, National Association, Chicago, Illinois, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.

Corus is one of the largest of the 90 banks to close. this year.  The Chicago-based bank made loans to commercial real estate projects nationally.  The downturn of the real estate market is the major reason for the bank failure.

For more information, please read the FDIC Press Release.