Illinois

InBank of Oak Forest, Ill., went from well capitalized to insolvent in no time at all, and industry observers are pointing to the $209 million-asset bank as an extreme example of an aggressive regulatory approach to deteriorating credit quality.

The $7.8 billion-asset company said Thursday that it had proposed two separate swaps — one for its $100 million of subordinated notes, the other for its $125 million of capital securities.

After four consecutive quarterly losses, the depleted Mercantile Bancorp Inc. in Quincy, Ill., is exploring ways to recapitalize itself.

The capital-strapped Amcore Financial Inc. of Rockford, Ill., announced Wednesday that it has agreed to sell two of its Wisconsin branches to First National Bank and Trust Co., in Beloit, Wis.

After a consent order from its regulators landed it in default on a line of credit, Amcore Financial Inc. in Rockford, Ill., has paid down some of the debt and gotten an extension to repay the rest.

Regulators closed institutions in five states late Friday, bringing the year's toll to 69 and leaving the FDIC with almost $1 billion more in losses.

A year after posting its first loss, Corus Bankshares is out of capital and out of options. The $7 billion-asset Chicago company reported Friday that it lost $487.3 million in the second quarter, leaving its bank unit with a capital deficit of $157 million.

For a year and a half, Taylor Capital Group in Rosemont, Ill., has tried to distinguish the growth of its commercial and industrial lending from the credit problems in its residential real estate portfolio.

With its credit quality increasingly troubled, Midwest Banc Holdings Inc. was already among the relatively small group of banks to defer dividend payments on the government's preferred shares.

Amcore Financial, a $5.1 billion-asset company in Rockford, Ill., reported a loss of $10.7M in the second quarter, its sixth consecutive loss.