CenTrust lines up $10M in capital

Posted May 17, 2010 at 1:11 p.m.

By Becky Yerak | A
troubled Northbrook-based bank that was founded in 2006 by a former
Federal Reserve Bank of Chicago official has lined up at least $10
million in capital, a person familiar with the matter said.

In
late 2009 CenTrust Bank, which has assets of $119.8 million, was
ordered by regulators to maintain certain capital levels. It has now
struck a deal with a group that include Warson Capital in St. Louis for
at least a $10 million. The new investment entity is called Commercial
Bancshares Inc.


CenTrust lost $404,000 in the first quarter. In 2009 it lost $4.7 million, and 27 percent of its loans were seriously delinquent.

CenTrust opened in 2006 after raising $20 million from about 100 investors.

 

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