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BUSINESS BRIEFING / BANKING

TIMES WIRE SERVICES

Regulators have shut down Strategic Capital Bank in Illinois, marking the 35th failure this year -- and second this week -- of a federally insured bank.

The Federal Deposit Insurance Corp. was appointed receiver of the bank, based in Champaign, Ill.

The FDIC said the bank’s deposits would be assumed by Midland States Bank, based in Effingham, Ill. Its branches will reopen Tuesday as branches of Midland States Bank.


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