Illinois

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.

Mercantile Bancorp Inc. of Quincy, Ill., said Tuesday that it narrowed its fourth-quarter loss to $4.3 million, from $6.7 million a year earlier.

First Midwest Bank in Itasca, Ill., wants to make it perfectly clear — it is not to be confused with Midwest Bank and Trust Co.

Amid concerns about its future, Amcore Financial Inc. in Rockford, Ill., said it had sold 12 branches and two stand-alone drive-up sites of its main subsidiary, Amcore Bank.

Accountants for Amcore Financial Inc. of Rockford, Ill., said its future is in doubt.

Last week's reversal of a tax court decision means Subchapter S bank owners will continue paying taxes as they have for years.

ShoreBank Corp. in Chicago announced Wednesday that veteran Chicago banker David Vitale is set to become its executive chairman should it raise the capital it needs.

FirstMerit Corp. of Akron, Ohio, will need sharp elbows as it expands into the city of broad shoulders.

Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.

Institutions in Florida, Illinois, Maryland and Utah failed Friday, bringing the year's total to 26. The failed banks held combined assets of roughly $1.1 billion and their resolution is expected to cost the Deposit Insurance Fund more than $300 million.

Wintrust Financial Corp. in Lake Forest, Ill., on Thursday announced pricing for a common stock offering expected to raise at least $183 million of fresh capital.