Shorebank Corp. in Chicago has hired Frances R. Grossman as executive vice president of Shorebank Chicago Cos., the holding company for its subsidiaries in the city, including $823 million-asset South Shore Bank.

She will focus on raising capital, developing business, enhancing civic relationships, strategic planning, and investor relations. In addition to the bank, Shorebank Chicago's subsidiaries include Shorebank Development Corp., a community-oriented real estate developer; and Shorebank Neighborhood Institute, a community development organization.

Ms. Grossman, 59, was a senior vice president in Chicago for Bank of America. Earlier she was the executive director of Hyde Park Kenwood Development Corp., a community development corporation in the Chicago.

Shorebank Corp. was established 25 years ago in Chicago as a community development bank holding company. It now also has banks in Cleveland, Detroit, and the Pacific Northwest, as well as other operations.

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