Illinois

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.

PrivateBancorp Inc. in Chicago reported its second straight profitable quarter as credit quality continued to show signs of stabilizing and it added commercial and industrial loans.

Wintrust Financial Corp. in Lake Forest, Ill., said Monday that its fourth-quarter earnings fell 50% from a year earlier, to $14.2 million.

Taylor Capital Group Inc. in Rosemont, Ill., is positioning itself to raise more capital. The $4.6 billion-asset company filed a shelf registration with the Securities and Exchange Commission on Monday to raise as much as $175 million.

Several banks rushed to repay investments under the Troubled Asset Relief Program in December, but hundreds head into the new year desperate for an exit strategy, even if it means selling.

First Busey Corp. in Champaign, Ill., has announced plans to raise almost $86 million in capital by selling common stock and preferred shares.

The $709.2 million-asset company said last week that James Miller would retire on Feb. 4 and that it would launch a search to find his successor. Miller has been with Princeton National since 1979.

First Mid-Illinois Bancshares Inc. in Mattoon said Tuesday that it would raise up to $25 million in capital through a private placement of preferred stock.

The $12.6 billion-asset company said on Monday that it had hired Thomas Doherty to lead business banking and promoted Richard Bechtel to oversee mortgage banking.

Wintrust Financial Corp. in Lake Forest, Ill., is raising capital to repay government funding.

The Federal Reserve Board has entered into written agreements with four community banks and their holding companies.