October 30, 2009 US Bank announced they had acquired the banking subsidiaries of FBOP Corporation of Oak Park, Illinois, from the FDIC. This transaction includes nine different banks with more than $18 billions in total assets and 150 branches in California, Illinois, Arizona and Texas. The nine banks that are part of this acquisition are: BankUSA, N.A.; California National Bank; Citizens National Bank; Madisonville State Bank; North Houston Bank; Pacific National Bank; Park National Bank; San Diego National Bank; and Community Bank of Lemont.
U.S. Bank will receive approximately $18.4 billion of assets and assume approximately $18.3 billion of liabilities, including $15.4 billion of both insured and uninsured deposits, of the nine different banks that are part of FBOP.
The nine banks involved in this transaction will continue to operate under their current names and will be re-branded as U.S. Bank branches in the near future.
Prior to this announcement, U.S. Bank had 570 branch offices in California, 75 branch offices in Arizona and 127 branch offices in Illinois. U.S. Bank currently does not have a retail banking presence in Texas.
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