Rumours of "Green Shoots" are Exaggerated: Illinois
After my previous posts on Georgia, it seems only fair to note the bank closings in Illinois today.
There have been 13 bank closings posted (as of right now, about 6:50pm) in the state of Illinois since last March. That alone is significant—but, even more interesting, six of them occurred today. This exceeds the previous record for a state, Georgia’s five last week.
Three (in Elizabeth, Oregon, and Danville) are in the NW part of the state. The other three are located near Chicago (Worth, in Cook County), Urbana (Clinton), and Springfield (Winchester).
Only two of those cities (Worth and Danville) are in the Top 200 cities by size in the state, so it’s difficult not to suspect that their location had a lot to do with the closing of at least four of the banks.
Again, the same as the Georgia question, why Illinois? And, most especially, given the past two weeks, why are there multiple state closings now?