Illinois

First Farmers Financial in Converse, Ind., has agreed to buy three community banks in Illinois.

More community banks are looking to outsource their mortgage operations to reduce the regulatory burden, but structuring such deals — and determining proper compensation — can be tricky. Here's how two Chicago-area lenders solved the problem.

First Busey in Champaign, Ill., has agreed to buy Herget Financial in Pekin, Ill.

Urban Partnership Bank in Chicago has lured a former Citibank executive out of retirement to lead its consumer banking operations.

Federal Savings Bank in Chicago has teamed up with West Suburban Bank in Lombard, Ill., to offer mortgage products across West Suburban's 37-branch network.

Mitch Feiger, CEO of MB Financial, along with Mark Hoppe, former Taylor CEO, reflect on the merger, the regulatory environment and keeping key people happy in the highly competitive Chicago market.

Old Second Bancorp in Aurora, Ill., said Wednesday that its chief executive officer, William Skoglund, will retire at the end of this year. He will be succeeded by James Eccher, the company's chief operating officer.

The $2.5 billion-asset QCR said in a press release Friday that the new company will include the mortgage staff from its Quad City Bank & Trust.

CHICAGO — Mortgage delinquency rates declined by nearly 20% to a national rate of 3.46% in the second quarter from a year earlier, according to a report from TransUnion LLC.

LAKE BLUFF, Ill. — Credit unions continue to inch closer to what banks are charging for overdrafts.

The Bank of Edwardsville in Illinois has begun looking for a new chief executive, after its current CEO, Thomas Holloway, said he would retire next spring.

LAKE BLUFF, Ill. — The practice of ordering consumer payments from highest to lowest is declining among financial institutions, according to a new study from Moebs Services.

Centrue Financial in Ottawa, Ill., said Monday that it has agreed to sell $75 million of its common stock to the New York private-equity group Capital Z Partners.

Two Midwestern banking companies, First Midwest Bancorp in Illinois and First Federal of Northern Michigan Bancorp, have completed previously announced acquisitions.

Northern Trust in Chicago has appointed Peter Jordan as head of global fund services for the bank's Asia-Pacific region.

WESTMINSTER, Colo. and WARRENVILLE, Ill. — System United Corporate Federal Credit Union, better known as SunCorp, on Wednesday announced its intent to merge with Alloya Corporate Federal Credit Union of Illinois.

BENSENVILLE, Ill. — The operations of Bensenville Community CU have been temporarily suspended by the Illinois Division of Financial Institutions.

GreenChoice Bank in Chicago is the fourteenth failure this year. An investment group seeking to establish an environmentally friendly bank saved the thrift from collapse four years ago, but it fell on hard times again.

The $9.8 billion-asset MB Financial received approval from the Office of the Comptroller of the Currency on Thursday to acquire Taylor Capital in Rosemont, Ill.

MOLINE, Ill. — If time really is money, then IH Mississippi Valley CU had a lot to lose when paper documents were missing in action.