Illinois

American Chartered Bank in Schaumberg, Ill., has sold its health savings account business to Minnesota insurance company SelectAccount.

Harvard Illinois Bancorp's management and board have prevailed in their proxy battle with an activist investor.

PrivateBancorp (PVTB) in Chicago reported first-quarter earnings of $10.8 million, up 44% from a year earlier, as credit costs fell and the company collected more fees.

The $4.7 billion-asset parent of Cole Taylor Bank swung to a $7.7 million profit in the first quarter from a $2 million loss in the same period last year, thanks largely to a surge in mortgage lending.

State regulators closed two banks on Friday, bringing the year's tally to 15. The two failures, in Georgia and Illinois, are expected to cost the Deposit Insurance Fund $ 95.6 million.

MB Financial Inc. in Chicago has repurchased $196 million of preferred shares issued to the Treasury Department as part of the Troubled Asset Relief Program.

Wintrust Financial Corp. in Lake Forest, Ill., will raise up to $126.5 million in capital through a preferred stock offering.

For a second time in three weeks, regulators have shuttered a bank that others were unwilling to acquire.

Joseph Stilwell is trying to gain seats on the mutual holding company's board with the solitary goal of getting the management team to sell.

First Midwest Bancorp Inc. in Itasca, Ill., has added a four-person team to its recently formed asset-based lending division.

PrivateBancorp Inc. has named a president of personal client services to oversee a new line of business that combines some of the Chicago company's offerings.

Town and Country Financial Corp. in Springfield. Ill., is combining its two bank subsidiaries that it has operated as separate entities for nearly three decades.

The Office of the Comptroller of the Currency closed two Midwestern banks Friday, bringing the failure tally so far this year to nine. The Federal Deposit Insurance Corp., as the receiver of the failed national banks, was able to find other institutions to resolve the failures.

A unit of Town and Country Financial Corp. in Springfield, Ill., has agreed to buy a branch in Quincy, Ill., from Associated Banc-Corp.

MB Financial Inc.'s fourth-quarter results fell shy of Wall Street's expectations, but things are still looking up for the Chicago company.

Bank of the James Financial Group Inc. in Lynchburg, Va., said that its common stock began trading on the Nasdaq Capital Market exchange on Wednesday.

First Midwest Bancorp Inc. in Itasca, Ill., swung to a profit in the fourth-quarter, after losing more than $30 million a year earlier.

After spending much of 2011 watching its loans shrink, PrivateBancorp Inc. in Chicago increased its loans by nearly 4% during the fourth quarter. That boost was enough to lift analysts' confidence and estimates.

Improving credit quality and continued low funding costs lifted Jacksonville Bancorp Inc.'s fourth-quarter profit 5% from the same period in 2010, to $774,000.

A troubled Chicago-area community bank that just received a large capital infusion from its owners is now negotiating to restructure its loan with Cole Taylor Bank as it aims to rebuild its capital reserves.