Illinois

The Bank of Commerce in Wood Dale, Ill., became the nation's 26th failed bank of the year late Friday.

First Midwest Bancorp Inc. in Itasca, Ill., has added a director. The $8.15 billion-asset company said that Peter Henseler, the president of toymaker RC2 Corp., had joined its board.

The Federal Reserve made public two written agreements for bank holding companies dealing with high levels of credit problems at their bank units.

Data on failed banks sold in the first 10 weeks of the year hints at a broader shift toward buyers going it alone.

Old Second Bancorp Inc. in Aurora, Ill., said its bank expects further regulatory scrutiny after it was unable to fully comply with a memorandum of understanding.

Illinois regulators are swinging their hammers again, but this time, their targets are better equipped to take the blow.

The Fed reached a written agreement on Feb. 18 with the $1.4 billion-asset company that gives it 60 days to maintain adequate capital on a consolidated basis.

Community Financial Shares Inc. of Glen Ellyn, Ill., said late Monday that its net loss widened to $2.2 million in the fourth quarter, from $690,000 a year earlier.

WASHINGTON — Regulators seized the $124 million-asset Valley Community Bank in St. Charles, Ill., late Friday in the 23rd bank failure of the year.

On Tuesday, the Fed reported the formal actions it took against $242 million-asset American Bancorp. of Minnesota Inc. in Baxter, $1.2 billion-asset Eastern Virginia Bankshares Inc and its EVB bank unit in Tappahannock, $1.5 billion-asset Marquette Financial Cos. in Minneapolis and $541 million-asset National Bancorp Inc. in Schaumburg, Ill.

Bank of New York, representing holders of trust-preferred debt, has put up a vigorous fight against Builders Financial's reorganization plan, accusing the bankrupt company's owner of using straw creditors to deceive the court.

First Mid-Illinois Bancshares Inc. in Mattoon is raising capital through a private placement to be opportunistic. The $1.5 billion-asset company said Friday that it had subscriptions for $27.5 million of convertible preferred stock from investors, directors, executives, major customers and existing shareholders.

The Treasury Department expects to realize $25.6 million from its sale of warrants for common stock in Wintrust Financial Corp.

The Treasury Department has launched a public offering for the 1.6 million warrants for common equity it received from Wintrust Financial Corp. in Lake, Forest, Ill., under the Troubled Asset Relief Program.

Repeating a familiar pattern of recent years, banks failed Friday in Georgia and Illinois. Two were closed in Georgia; another, in Chicago, was the city's first failure of 2011.

Repeating a familiar pattern of recent years, banks failed Friday in Georgia and Illinois. Two were closed in Georgia; another, in Chicago, was the city's first failure of 2011.

Monroe Securities Inc. in Chicago and Carson Medlin Co. in Tampa, Fla., are merging. The companies said Wednesday that they have agreed to combine their operations effective immediately, with Carson Medlin operating as a division of Monroe.

MB Financial Inc. in Chicago earned $595,000 in the fourth quarter, compared with a loss $12.4 million a year earlier, as net interest income grew and credit costs subsided.

Taylor Capital Group Inc. in Rosemont, Ill., might have its arms around its commercial real estate problems, but other banks' CRE problems are weighing it down.

In taking a piecemeal approach to selling problem assets, First Midwest Bancorp Inc. seems to be pleasing only itself.