FBOP Corporation was a financial services company based in Oak Park, Illinois, United States.
[2] On October 30, 2009, FBOP's banking subsidiaries were closed by their chartering agencies and the Federal Deposit Insurance Corporation was appointed as their receiver.
In August 2009, FBOP signed a so-called written agreement with the Federal Reserve that gave it a schedule to raise capital, improve risk management and reduce its concentration of commercial real estate loans.
On October 30, 2009, FBOP's subsidiaries were closed by their chartering agencies and the Federal Deposit Insurance Corporation was appointed as their receiver.
The FDIC entered into a purchase and assumption agreement with Minnesota-based U.S. Bancorp to assume the assets and deposit liabilities of the closed banks.