Corus Bankshares

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Chicago area home to 3 of 20 biggest bankruptcies

In this photo from 2002, a Blockbuster sits across from the Corus Bank building at the intersection of Irving Park, Damen and Lincoln Ave. in Chicago's North Center neighborhood. (Handout)

The Chicago area was home to three of the nation’s 20 biggest bankruptcies in 2010, a roundup by shows.

Measured by assets owned before filing for bankruptcy, Chicago-based Corus Bankshares Inc., owner of failed Corus Bank, ranked second, with $8.35 billion in pre-petition assets.

Ranked sixth was Rockford-based Amcore Financial Inc., with $3.8 billion in pre-petition assets. Get the full story »

ShoreBank successor boosts online savings rates

Urban Partnership Bank, the successor to the recently failed ShoreBank, has already boosted the interest rates on a couple of savings accounts for its online ShoreBank Direct.

The ShoreBank Direct Online Savings Account now pays a 1.25 percent annual percentage rate with a $100,000 minimum balance, up from 1.19 percent. It also pays  1.2 percent for balances of less than $100,000, up from 1.03 percent.

The rate hikes were first reported by, a tracker of bank account trends. Get the full story »

New Atlanta-based company rises from Corus Bank

From the Atlanta Business Chronicle | A new Atlanta-based real estate company will market the assets and loans from Chicago’s failed Corus Bank.

FDIC seeks to block Corus parent from tax refunds

The Federal Deposit Insurance Corp. is seeking to block the parent of failed Corus Bank from recouping more than $257 million in tax refunds stemming from the bank’s collapse.

In papers filed Monday with the U.S. Bankruptcy in Chicago, the FDIC, the receiver of the closed Illinois bank, said Corus Bankshares Inc.’s lawsuit against the regulator that seeks to take back those refunds should be tossed out because it intentionally sidesteps federal banking laws.

“Because federal law expressly precludes” the lawsuit Bankshares filed in bankruptcy court, “this action should be dismissed,” the FDIC said in court papers. Get the full story »

Corus fights to keep $257M in tax refunds

The parent of Chicago’s Corus Bank has moved to head off a grab by federal regulators at more than $257 million in tax refunds stemming from the bank’s collapse. Get the full story »