Community Bank of Lemont was one of nine seized by the government Oct. 30 after its parent company, the Oak Park-based FBOP Corp., hit financial problems.

FBOP owned and controlled several banks in Arizona, California and Texas, in addition to Community Bank of Lemont and others in the Chicago area.

The branch has reopened under the ownership of U.S. Bancorp.
FBOP has combined assets of $19.4 billion and deposits of $15.4 billion, according to a press release from the Federal Deposit Insurance Corporation.

The FDIC estimates that the cost of the nine banks will be a combined $2.5 billion.

“U.S. Bank’s acquisition of all the deposits was the least costly resolution...compared to alternatives,” said David Barr, spokesman for the FDIC.

The failure of the nine banks brings the nation’s total number this year to 115.

Customers should continue to use their existing branches until U.S. Bank can fully integrate the deposit records of the nine failed banks, according to the FDIC press release.