The first bank failure of 2025 has occurred in Illinois, with Pulaski Savings Bank being closed down by US regulators. The Federal Deposit Insurance Corporation (FDIC) has taken over as the receiver and has transferred the bank's deposit accounts and assets to Millennium Bank. The FDIC will use $28.5 million from its Deposit Insurance Fund to cover the cost of the failure, citing "suspected fraud" as the main cause. The FDIC has not provided further details on the reasons behind the collapse. As of September, Pulaski Savings Bank had $49.5 million in assets and $42.7 million in deposits.



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