Inside these posts: Urban Partnership Bank

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ShoreBank successor makes two hires

The successor to failed ShoreBank has added a new director and a new personnel executive.

Urban Partnership Bank of Chicago has tapped Martin Eakes, chief executive of the Center for Responsible Lending, a financial watchdog group based in Durham, N.C., for its board of directors pending regulatory approval.

“Martin has a deep understanding of the unmet financial services needs of the bank’s underserved urban communities and has strong ties to residents, entrepreneurs, and leaders of community organizations,” said William Farrow, CEO of Urban Partnership Bank.
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Farrow reported to head reconstituted ShoreBank

The group seeking to buy ShoreBank, the ailing South Side lender expected to be seized by federal regulators Friday, plans to name former First Chicago executive Bill Farrow as the chief executive and president of the institution if it succeeds at bidding for certain assets and deposits of the failing bank.

It means that three former First Chicago executives will be running the show if their bid succeeds. Get the full story »