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U.S. regulators Friday seized an Illinois bank, the third in the state to fail this year.
The Federal Deposit Insurance Corp. said Friday that the sole office of the Bank of Commerce, of Wood Dale, Ill., was closed. Advantage National Bank Group, of Elk Grove Village, Ill., entered a purchase-and-assumption agreement with the FDIC to assume all of Bank of Commerce’s deposits. Get the full story »
A bank investor group that includes turnaround financier Wilbur L. Ross Jr. and several former PrivateBancorp and MB Financial executives on Friday made its second purchase of a failed bank this year. Get the full story »
More than 50 lawsuits against officers and executives of failed banks have been authorized by the Federal Deposit Insurance Corp. as the agency tries to recoup more than $1 billion in losses from the credit crisis, Bloomberg News reported Friday. Get the full story »
FirstMerit Bank, which over the past year has entered the Chicago market through three acquisitions, said it is continuing to keep its eyes open for deals, but that its main focus right now is integrating its operations. Get the full story »
