Midwest Banc Holdings

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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 BankruptcyData.com 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 »

Herencia back in banking with SKBHC Holdings

Roberto Herencia, the longtime president of Banco Popular North America who went on to head Midwest Banc Holdings Inc., is back in the banking industry.

Herencia  has joined the board  of SKBHC Holdings, which on Oct. 26 got Federal Reserve approval to become a bank holding company.  Its investors include an Illinois pension plan. Get the full story »

FirstMerit ready for more Illinois bank failures

FirstMerit, the Akron-based bank that has become a Top 20 player in the Chicago area through three recent acquisitions, said it expects the pace of Illinois bank failures to pick up again. Get the full story »

Herencia leaves Midwest Banc Holdings payroll

Roberto R. Herencia has left Midwest Banc Holdings Inc., whose Midwest Bank unit failed last month, but has signed a consulting agreement that could pay him $25,000 a month.

In May, Midwest Bank, a $3.17 billion-asset lender that was among the first community banks to get federal bailout funds, was seized by regulators  after failing to raise capital it needed to stay independent. Get the full story »