Centrue Financial in Ottawa, Ill., appears to have finally found its white knight.

The $868 million-asset company said Monday that it has agreed to sell $75 million of its common stock to the New York private-equity group Capital Z Partners. Under the proposed deal, Capital Z Partners would acquire 187.5 million of Centrue's shares at 40 cents each. Capital Z, which in 2013 recapitalized the struggling Anchor BanCorp Wisconsin, would own 24% of Centrue's outstanding common stock when the transaction is completed.

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