South Central Bank

South Central Bank, originally established on January 10, 1966, as South Central Bank, was a financial institution located in Chicago, Illinois. Over the years, it underwent several significant changes. On February 11, 1970, the bank rebranded as South Central Bank and Trust Company of Chicago. In 1998, it transitioned from having trust powers to none. A major transformation occurred on July 1, 2003, when the bank changed its name to South Central Bank, National Association, became a member of the Federal Reserve System, and altered its charter to a national bank under the regulation of the Office of the Comptroller of the Currency. On the same date, it changed its bank class to reflect its new status as a national bank. After years of operation, South Central Bank voluntarily closed and liquidated its assets on January 10, 2020.

Below is a list of some important events in banks history, including mergers and acquisitions.

1966-01-10Institution established. Original name: South Central Bank.

1970-02-11Changed Institution Name to South Central Bank and Trust Company of Chicago.

1998-01-14Changed Trust Powers to None.

2003-07-01Institution becomes member of the Federal Reserve System.

2003-07-01Changed Chartering Agency to The Office of the Comptroller of the Currency.

2003-07-01Changed Bank Class to National Bank, member of the Federal Reserve System (FRS).

2003-07-01Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2003-07-01Changed Institution Name to South Central Bank, National Association.

2003-07-01Changed Trust Powers to Full.

2020-01-10Closed voluntarily and liquidated its assets.