Hinsdale Bank, Seized in 2001, Peddled Risk Loans

Superior Bank, seized by federal regulators in 2001, was a subprime lender that used predatory and deceptive practices, a witness for Ernst & Young testified at a trial over the firm's role in the bank's demise.

Springfield Bank Offers Short-Term Loans to State Employees

At least one local bank has begun offering short-term, unsecured loans to state-employee customers who miss paychecks as a result of the state budget deadlock. The no-cost loans from Town & Country of Springfield and Logan County Bank of Lincoln are available to customers with direct deposit.

Bank of Belleville Plans Stock Repurchase

The move, which is subject to regulatory approval, is an agreement that the bank reached last week with Capitol Bancorp Ltd., which owns 51 percent of the bank's shares.

Soy Capital Bank & Trust to Open Champaign Office

Decatur-based Soy Capital Bank & Trust plans to open an office on Fox Drive around Aug. 1, bank President Robert C. Smith said.

Chicago Foreclosure Counselors Can't Keep Up

An average of only 7.3 Chicago-area homeowners received government-certified foreclosure counseling for every 100 area foreclosure filings in 2008.

Privatebank Doubles Up in Chicago

PrivateBancorp's acquisition last Thursday of the failed Founders Bank more than doubles its footprint in the Chicago area from eight to 18 branches ...

Illinois First in Failed Banks for '09

Illinois leads the nation in bank failures this year, though regulators say that is primarily because it has more banks than any other state.

Head of Seized Founders Bank Seeks to Save Remaining Institutions

Days after regulators shut down six of his Illinois banks, Lyle Campbell said he's trying to raise capital for the three remaining lending institutions in his privately held banking business.

State Regulators Close Two Central Illinois Banks

Banks in Clinton and in Winchester were closed Thursday by the Illinois Department of Financial and Professional Regulation.

Bradford Bank Goes 'Green'

Over the past few months, the Greenville bank has begun implementing a green strategy in an effort to be more energy efficient and reduce the bank's carbon footprint.

Credit Unions Caught in the Same Loan-Loss Tar as Banks

With vastly smaller deposit reserves, few CUs invested heavily in higher-risk mortgages or mortgage-backed securities. But that doesn't mean the economic blowout that has shaken the banking community to its core is not hurting the nonprofit credit union industry.

Four East Central Banks Post Losses in First Quarter

One of the banks, Strategic Capital Bank in Champaign, has since been placed in receivership by the FDIC. The other three banks continue to operate.

Feds Order AMCORE to Raise Capital

The $5.3 billion banking company, which is based on Seventh Street in Rockford, has lost nearly $130 million over the last five quarters because of rapidly rising loan defaults.

Gifford State Bank Buys ex-Busey Facility in Thomasboro

First Busey Corp. closed the bank along with the Busey main bank on Sangamon Avenue in downtown Rantoul in May.

Regulators Order Two Chicago-Area Banks to Shape Up

Baytree National Bank & Trust Co. of Lake Forest and DuPage National Bank of West Chicago are the latest Chicago-area institutions to be ordered by the OCC to shape up.

Aurora Bank Makes List of Undercapitalized Banks

Benchmark Bank of Aurora has made a list of 89 undercapitalized banks and thrifts nationwide, including 15 in the Prairie State, according to a report.

First National Bank of Danville Now on Shaky Ground

First National Bank of Danville suffered heavy losses during the first three months of this year and, as of March 31, was considered "undercapitalized" by federal regulatory standards.

Bank Fee Lawsuit Resolved in Settlement

Illinois financial institutions will share over $25 million in rebated state fees and see those fees lowered in the future as part of a settlement with the state over fund sweeps.

Mattoon Man Owns 10% of First Mid-Illinois Bancshares

A shareholder in First Mid-Illinois Bancshares has notified the Federal Reserve Bank of Chicago that he has acquired more than 10 percent of the company's voting shares.

Rock River Valley Banks Wade Deeper into Troubled Loan Waters

Banks in the Rock River Valley have more than doubled the percentage of noncurrent loans on their books over the past year, according to the latest data from the FDIC.

Federal Regulators Shut Down Bank of Lincolnwood

The FDIC was appointed receiver of the failed bank, based in Lincolnwood, Ill., which had about $214 million in assets and $202 million in deposits as of May 26.

Chicago's Corus Hires BofA to Help it Avoid Shutdown

Corus Bankshares has hired Bank of America to raise capital this month or sell the entire firm to avoid being closed, Bloomberg reported Thursday, citing people familiar with the matter.

Interim CEO's Job at Champaign Bank Made Permanent

P. David Kuhl's interim appointment as president and CEO of Freestar Bank has been made permanent. Kuhl has served as chairman of the board of Freestar Bank since September 2007 and continues in that role.

Financial institutions see profit in green movement

New Crop of Green Banks Sprouting

With bank failures on the rise and the economy in turmoil, GreenChoice Bank in Chicago, aspires to be one of the Midwest's first green lenders.