When a Bank Goes Under

60 Minutes correspondent Scott Pelley was given extraordinary access to a bank take over because the FDIC wants you to know what happens to your money when your bank has failed.

A team of FDIC agents prepared to seize a bank outside Chicago. They checked into a hotel under a fictitious name, CB and Associates, to prevent a run on the bank. They didn't want anyone to know who they are or why they were in town.

They were there to seize all five branches of Heritage Community Bank, a 40-year-old institution for savings, student loans, mortgages and checking. But like so many others recently, it made ruinous bets on real estate.

The night was February 27. No one at the bank knew the end was minutes away.

Let's watch how this went down.