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Regulators closed the Bank of Shorewood on August 5, 2011 and sold the bank to Heartland Bank and Trust of Bloomington. Heartland Bank was not an approved county depository, a legal status given by county boards under Illinois law, and could not collect property taxes or hold other county funds.
You can read our Statement Concerning FDIC Action Against the Bank of Shorewood here.
“It is never good to see a community bank fail,” Weber said, “I did not want to inconvenience anyone accustomed to paying their tax at these branches in Shorewood and Elwood.”
“We worked with the FDIC and the Will County State’s Attorney to find a temporary way for these banks to service their communities until Heartland officially becomes a county depository.”
Weber added, “We hope to obtain formal County Board approval this month and look forward to a strong relationship with Heartland as they become new members of the community. As of today, however, you can pay your property taxes at any location of the former Bank of Shorewood.”
You can read the letter authorizing Heartland Bank and Trust here.
Our complete list of Banks Accepting Property Tax Payments is here.