Illinois

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.

Commerce Union Bancshares in Brentwood, Tenn., plans to close mortgage offices in Ohio, Illinois and Kentucky and to transfer the employees to Bridgeview Bank Group in Bridgeview, Ill.

Hometown Community Bancorp in Morton, Ill., has agreed to buy Illini Corp. in Springfield, Ill.

Royal Financial in Chicago has agreed to sell $25.8 million of distressed assets associated with its pending purchase of Park Bancorp in Chicago.

Standard Bank & Trust in Hickory Hills, Ill., has hired an investment bank to explore a possible sale, according to Crain's Chicago Business.

First Community Financial Partners in Joliet, Ill., has agreed to buy First Mazon Bancorp in Mazon, Ill.

Huntington Bancshares plans to close more than 100 branches in Ohio, Illinois, Michigan, Pennsylvania and Wisconsin after it completes its acquisition of FirstMerit.

Northern Trust has agreed to buy Aurora Investment Management, a hedge fund portfolio manager that's owned by Natixis Global Asset Management.

Wonder Bancorp and Harvard Illinois Bancorp have extended the deadline for their merger to May 31, according to a joint news release issued Friday.

Randy Conte, the $15.6 billion-asset bank's chief operating officer, will become chief financial officer on April 30 and remain operating chief.

Hometown Community Bancorp in Morton, Ill., has agreed to buy Trivoli Bancorp in Trivoli, Ill.