Inside these posts: Chicago South Shore

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Aug. 20, 2010 at 6:10 p.m.
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Filed under: Bank failures, Banking, Real estate

ShoreBank shut down by FDIC

By Becky Yerak

An exterior view of ShoreBank at 3401 S. King Drive on the South Side, May 18, 2010. (Chris Walker/Chicago Tribune)

ShoreBank, which billed itself as the nation’s first and leading community development and environmental lender, failed Friday and was acquired by a consortium of big banks, insurers, philanthropic groups and civic-minded individuals.

ShoreBank is the 15th Illinois lender to fail this year, and the 114th to be seized by regulators nationally.

Its failure is expected to cost the Federal Deposit Insurance Corp. $367.7 million. The FDIC is funded by the banking industry. Get the full story »

Aug. 2, 2010 at 1:40 p.m.
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Filed under: Chicago executives, Transportation

South Shore Railroad names new president

By Julie Wernau

The president of Chicago South Shore and South Bend Railroad will retire in October after five years on the job, the company announced Thursday. Henry Lampe, president and CEO will be replaced by Andrew Fox, managing director of Pacific Harbor Line and a former president at that company. Get the full story »