Here is very interesting story on a small Illinois bank which concentrated (too much) on construction loans. It owners are wiped out and FDIC on the hook for a sizeable possible loss. AMCORE is not the same case, but there are some similarities with AMCORE. Comptroller of the Currency, ordered AMCORE to improve its loan underwriting and administration practices calling for a change in lending practices back in the Spring of 2008. Click on the following to read the story:
How Heritage Community Bank came undone, and why its buyer is protected -- chicagotribune.com
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