Bailout opponents alike can toast to this one — Chicago’s politically well-connected ShoreBank should start packing its bags, as it’s about to take a one-way trip on the failboat, per Charlie Gasparino:

FOX Business Network has learned that banking regulators have informed officials at ShoreBank that the company is heading for the Federal Deposit Insurance Corp.’s “resolution process,” whereby the FDIC takes over the bank and then separates out the bad assets — in this case soured loans — and attempts to sell off the good parts of the bank.

A ShoreBank spokesman had no comment on the matter, and an FDIC spokesman would neither confirm nor deny that it has alerted ShoreBank of its likely imminent takeover and demise. But people close to the bank, namely top executives at a consortium of Wall Street firms who have recently contributed tens of millions of dollars in capital to bail out the institution, say they have been informed that barring them giving tens of millions more, or a massive contribution of capital from the federal government, ShoreBank will soon fail, FOX Business has learned.

Unfortunately, using buzzwords like “green jobs!” and having friends in high places can only keep you alive so long. Bloomberg first raised warnings about ShoreBank a few days ago, and now, its collapse seems imminent, but we’ll see if someone throws them a life preserver. Gasparino deems it unlikely, saying that ShoreBank’s finances are a hot mess, and that even though Morgan, GS, Citi, JPM, GE and the feds had agreed to pitch in a significant amount of capital, and even with $75 million from the TARP, the bank may very well still be $175 mil or more short. WSJ indicates the bank’s managers may want to buy some of its assets if it’s seized, but it’s unlikely it will exist in its current incarnation come Bank Fail Friday — so ShoreBank, this failboat’s for you.