Illinois

Bank buyers should run potential deals by regulators early to avoid "landmines" and speed applications, officials from the Office of the Comptroller of the Currency say. Proper due diligence, succession planning and risk management are among the things they look for.

The $18 billion-asset company said late Tuesday it has acquired certain assets and liabilities from Surety Financial Services in Sherman Oaks, Calif. The companies did not disclose the terms or specify the assets that were transferred.

The $356.6 million-asset company issued 2.8 million shares of common stock to investors at a purchase price of $1.00 per share.

The Federal Deposit Insurance Corp. took action against three banks in August and released one bank from a consent order.

First Clover Leaf Financial (FCLF) in Edwardsville, Ill., has hired David Kuhl as the president and chief executive for its bank.

Midland States Bancorp in Effingham, Ill., has agreed to buy Heartland Bank in St. Louis to lower its reliance on interest income, strengthen fee income and improve its chances at going public.

Self-Help Federal Credit Union, the California community development credit union that bought Second Federal Savings & Loan last year, has officially reopened the failed thrift in conjunction with Chicago's Resurrection Project.

The Treasury Department will receive $91 million from its latest auction. The agency announced plans last week to auction nearly $118 million of securities from several small banks.

Midland States Bancorp in Effingham, Ill., has agreed to buy Heartland Bank in St. Louis from Love Savings Holding Co.

Midland States Bank in Effingham, Ill., is reportedly close to buying Heartland Bank in St. Louis.

Community Financial Shares (CFIS) in Glen Ellyn, Ill., plans to issue $2.8 million of common stock in a private placement.

Donald Wilson, chairman of Community Financial Shares (CFIS) in Glen Ellyn, Ill., has been appointed the company's president and chief executive.

A former chairman of the failed Premier Bank in Wilmette, Ill., has been charged with fraud in what prosecutors say is the first criminal case tied to the Troubled Asset Relief Program.

BankFinancial (BFIN) in Burr Ridge, Ill., reported a decrease in quarterly profit because of lower net interest income.

The serial acquirer in Rosemont, Ill., announced Wednesday that it has agreed to buy the $165 million-asset Diamond Bancorp, which has a branch on Chicago's north side and three branches in its northern suburbs.

The "we are all buyers" mentality held by most of Chicago's large community banks changed when Taylor Capital agreed to sell to MB Financial for $680 million. It could signal the beginning of long-awaited consolidation in the Chicago area.

Taylor Capital Group (TAYC) in Chicago plans to retire one-quarter of its Troubled Asset Relief Program stock that the Treasury Department auctioned to private investors last June.

Wintrust Financial, a community bank holding company in Illinois, is piloting an app that lets customers pre-order cash at ATMs.

The former president of the failed Mutual Bank in Harvey, Ill., has been banned from the banking industry by the Federal Deposit Insurance Corp.

A consortium of Mexican investors led by former Banco Popular executive Roberto Herencia has completed its recapitalization of Metropolitan Bank Group in Chicago, Crain's Chicago Business reported.