Inside these posts: failed banks chicago

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Jan. 3 at 11:15 a.m.
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Filed under: Banking, Jobs/employment, Layoffs

ShoreBank successor to close two Chicago branches

By Becky Yerak

Urban Partnership Bank, the successor to failed ShoreBank, is telling customers that on March 17 it will close its branches at 4659 S. Cottage Grove in the Kenwood neighborhood of Chicago and at 3401 S. King Drive in the Bronzeville area of the city.

“With current market conditions making expansion less expensive and real estate more available, we have decided to explore new retail branch locations to better serve our customers,” Urban Partnership said in a letter to customers obtained by the Chicago Tribune.

Urban Partnership said in the letter that it’s “actively seeking new locations” in Chicago and in Cleveland, where it is also closing a branch, “that will be accessible with the latest technologies” and more convenient. Get the full story »

June 4, 2010 at 4:57 p.m.
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Filed under: Bank failures, Banking, Investing

Arcola Homestead Savings joins list of failed banks

By Becky Yerak |
Arcola Homestead Savings Bank, which had $17 million in assets and $18.1
million in deposits, was closed today by state and federal banking
regulators.

The Federal Deposit Insurance Corp. was unable to find another financial
institution to take over the banking operations. Checks to the retail depositors for their insured funds will be mailed
Monday.

Get the full story »