Illinois

The Federal Deposit Insurance Corp. has ordered seven ailing community banks to raise fresh capital and directed three others with elevated loan losses to submit written plans for raising capital should credit quality weaken further.

First American Bank Corp. in Elk Grove Village, Ill., has repaid $15 million of the $50 million it received from the Troubled Asset Relief Program with funds it raised in a recent stock sale.

First Midwest Bancorp Inc. in Itasca, Ill., said Thursday that it paid $900,000 to repurchase a warrant it had issued to the Treasury Department as part of its participation in the Troubled Asset Relief Program.

First Farmers Financial Corp. agreed late Wednesday to acquire First Citizens of Paris Inc.

The heir to the Hyatt hotel fortune has ties to the industry, but the family's last banking venture didn't end so well.

First Midwest Bancorp Inc. in Itasca, Ill., First Financial Bancorp in Cincinnati and MidSouth Bancorp Inc. in Lafayette, La., have finalized separate acquisitions.

A dissident shareholder's bid to win a seat on the board of HF Financial Corp. received a boost Friday after an independent advisory firm endorsed his candidacy.

Taylor Capital Group Inc. in Chicago is looking to add up to $72 million in common equity that it says would strengthen its capital position and give it the flexibility to pursue growth opportunities.

First Midwest Bancorp Inc. in Itasca, Ill., has completed the sale of $115 million in senior notes and will use the proceeds to exit the Troubled Asset Relief Program.

Bank of the West in San Francisco is entering the Chicago area by opening a commercial banking office.

Mercantile Bancorp Inc. in Quincy, Ill., notified the NYSE Amex that it intends to voluntarily delist its common stock.

The Illinois Department of Financial Institutions closed the $37.8 million-asset All American Bank in Des Plaines on Friday.

The Federal Reserve has announced written agreements with three banking companies.

Credit quality is improving at Old Second Bancorp Inc., but the struggling company is still losing money.

First Midwest Bancorp Inc. in Itasca, Ill., said Wednesday that it had received approval from the Treasury Department to redeem $193 million in preferred stock issued in December 2008 under the Troubled Asset Relief Program.

Shares of PrivateBancorp Inc. surged Tuesday following news that the Chicago company had more than doubled its third-quarter earnings from a year earlier as revenue increased and credit costs subsided.

MB Financial Inc. in Chicago managed to produce a third-quarter profit after its credit costs fell dramatically, though shrinking revenue disappointed analysts.

Taylor reported third-quarter earnings of $7.3 million following three quarters of losses. CEO Mark Hoppe said the company's credit costs are down and all of its growth engines are up and running.

State regulators closed three banks along the East Coast and one in Illinois on Friday night, bringing this year's failure tally to 80.

First Midwest Bancorp Inc. said Thursday it will acquire about $185 million of deposits and a branch in suburban Chicago from Old National Bancorp.