Illinois

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.

Serving on a bank board is a tough gig, and the fact that a number of bank directors sit on the boards of four or more public companies is raising questions about whether they are too busy to be good watchdogs.

Home Federal Savings and Loan Association of Collinsville in Illinois is planning to raise at least $7.5 million as part of its conversion from a mutual to a stock-owned company.

Bank of New York Mellon and Northern Trust are charging money market investors more fees after previously cutting them major breaks in the low-rate environment.

First Mid-Illinois Bancshares in Mattoon has agreed to buy First Clover Leaf Financial in Edwardsville, Ill.

Illinois, California and New York are all taking initial steps to try to crack down on borrower abuses in the fast-growing digital lending marketplace. The states are facing pressure to intervene because federal agencies have yet to take decisive action.

The Fed's December interest rate hike helped PrivateBancorp's first-quarter profit, as yields rose on its variable-rate loans.

MB Financial in Chicago said its first-quarter profit rose 15.6% from a year earlier as fee income rose and expenses fell.

An improvement in fees collected for trust and investment services at Northern Trust contributed to an increase in first-quarter profit.

Wintrust Financial in Rosemont, Ill., in the first quarter reaped the benefits of several M&A deals that it completed last year.

Midland States Bancorp in Effingham, Ill., is planning to raise $120 million through an initial public offering. The $company said in a regulatory filing Monday that it has applied to list shares on the Nasdaq Global Select Market.