Illinois

Taylor Capital Group Inc. of Chicago on Thursday posted a much wider second-quarter loss than analysts expected, which it said stemmed from asset-quality problems and a one-time charge for raising capital.

The $12.8 billion-asset company posted a loss of $818,000, or 1 cent a share, for the second quarter. The analyst estimate called for a 22-cent loss.

The $10.6 billion-asset company's earnings were driven primarily by a $51 million gain stemming from a failed bank acquisition completed in the quarter, MB Financial said Thursday.

A regulatory maneuver rarely used since the savings and loan crisis has saved Family Federal Savings of Illinois in the nick of time.

Five months after raising capital by selling two banks, Mercantile Bancorp Inc. in Quincy, Ill., is turning to shareholders for more.

Second Federal Savings and Loan in Chicago views itself as the ShoreBank for its surrounding Hispanic community and hopes prospective investors will see it that way, too.

As House members debated the financial regulatory package, Republicans Judy Biggert and Darrell Issa surprisingly won adoption of an amendment Wednesday that would require the Federal Deposit Insurance Corp.'s inspector general to investigate whether political pressure played a role in securing private-sector assistance for troubled institutions.

WASHINGTON — Federal regulators shut three more banks on Friday, including $2.8 billion-asset TierOne Bank of Lincoln, Neb., a struggling 103 year-old thrift.

Lured by the chance to raise capital and worried about the future of the Office of Thrift Supervision, a wave of mutual holding companies have received approval to convert to full stock companies.

A day after financial companies banded together to rescue ShoreBank in Chicago with a $140 million investment, two Republican lawmakers are asking President Obama about his involvement.

The lifeline that ShoreBank in Chicago has been thrown by some of the nation's largest financial companies could turn out to have benefits for other community development banks.

As a similarly named neighbor was being taken over by regulators, First Midwest Bancorp Inc. decided to assert its strength.

Despite aggressive efforts to stay alive, Midwest Bank and Trust was closed late Friday by Illinois regulators. The failure of the Chicago-area bank came on a night when the FDIC ...

Harris Financial Corp. of Chicago, which acquired the failed Amcore Bank of Rockford, Ill., last month, said it is opening a private banking office in Rockford to be headed by an Amcore executive.

The vultures are circling around Midwest Banc Holdings Inc., and it's a scene that could become increasingly common as competition for failed banks intensifies nationwide.

Rep. Darrell Issa, the lead Republican on the House Oversight and Government Reform Committee, is asking the Federal Deposit Insurance Corp. to explain why it waited so long to close a bank owned by the family of a candidate for the U.S. Senate.

After slamming on the brakes in 2006, Wintrust Financial Corp. in Lake Forest, Ill., is revving its growth engine once more. The $12.8 billion-asset company on Friday purchased two of the seven banks that failed in the Chicago area the same day.

The Chicago company said Monday that its loans declined slightly in the first quarter as it struggled to find new qualified borrowers and focused its attention on resolving the troubled loan portfolio that has dogged it in the past two years.

WASHINGTON — Regulators closed Chicago-area Amcore Bank late Friday, putting the $3.8 billion-asset institution out of its misery on a night when six other institutions in and around the Windy City also failed.

A Chicago start-up venture called GreenChoice Bank has entered into an agreement to acquire the undercapitalized Family Federal Savings of Illinois through a supervisory conversion.