Illinois

The former officers and directors for Midwest Bank & Trust have reached a $26.5 million settlement with the Federal Deposit Insurance Corp. over charges of negligence during the financial crisis.

Some branch deals come with added value. A case in point is the $2 billion-asset Old Second Bancorp's agreement to buy a branch in Chicago from Talmer Bancorp in Troy, Mich. in a deal that includes deposits, assets and a vice chairman.

Strong commercial loan growth drove an 8% year-over-year increase in Private Bancorp's second-quarter profit.

The $24.4 billion-asset company reported a $50 million profit in the second quarter, up 2% from the first quarter.

Costs from a lawsuit settlement, the modification of some customers' contracts and employee severance costs combined to push down second-quarter profit at Northern Trust in Chicago.

Profits rose nearly 3% at Discover Financial Services in the second quarter thanks to solid loan growth and a one-time tax benefit.

The three custody banks had been projected to post weak second-quarter results because of a lull in foreign exchange trading. Then Brexit happened, and everything changed.

Millennium Bank is said to have been the target of an enforcement action related to its work with the pot industry. The episode shows why many banks remain reluctant to serve the fast-growing cannabis industry.

Wintrust Financial in Rosemont, Ill., has agreed to buy First Community Financial in Elgin, Ill.

The $99 million-asset thrift said in a recent press release that Best Hometown Bancorp, a holding company it created, raised $8.3 million as part of an initial public offering tied to its mutual-to-stock conversion. Home Federal also plans to change its name to Best Hometown Bank.

The Canadian company is determined to rely on low-cost deposits, lending prowess and cross-selling to justify the price it will pay for PrivateBancorp. Each of those strategies could backfire, highlighting why most acquirers emphasize cost-cutting when pitching a deal.

First Midwest Bancorp in Itasca, Ill., has agreed to buy Standard Bancshares in Hickory Hills, Ill.

BankFinancial in Olympia Fields, Ill., said it expects to record an $875,000 gain in the second quarter after selling three loans.

First Mid-Illinois signed a confidentiality agreement last fall to pursue a mystery bank in Illinois. It soon discovered that the bank — First Clover Leaf — was an institution it had heavily courted three years earlier.

The $15 billion-asset bank said in a press release Wednesday that Kevin Moffitt has been hired to succeed Brian Wildman, who was named MB Financial's executive vice president of consumer banking in March.

Wintrust Financial in Rosemont, Ill., is planning to raise about $160 million through a common stock offering.

Ottawa Savings Bancorp in Ottawa, Ill., is planning its second-step conversion.

QCR Holdings in Moline, Ill., has agreed to buy Community State Bank in Ankeny, Iowa.

A former head of the U.S. unit of Dutch-owned insurance company Aegon has been named chairman of a community bank in Illinois.

One of the last surviving black-owned banks in Chicago was rescued from its loan-related woes by a Ghanaian-American family.