Continental Illinois National Bank and Trust Company
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The Continental Illinois National Bank and Trust Company was at one time the seventh largest bank in the United States as measured by deposits. In 1984, it became the largest ever U.S. bank to fail, due to bad loans purchased from the failed Penn Square Bank N.A. of Oklahoma, as well as a substantial run on the bank's deposits once it became clear Continental Illinois was headed for failure.
[edit] References
- A .pdf about Continental Illinois, from fdic.gov
- Information about Continental Illinois from scripophily.net
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