Corus Bank of Chicago, IL Seized by Regulators

Corus Bank

Below is something on Corus Bank of Chicago.  I just saw come out a few moments ago while preparing for our networking event in Chicago next week.

Federal regulators seized Chicago-based Corus Bank on Friday, marking the first major bank to be undone by deteriorating construction and commercial real-estate loans during the current downturn.

The branches and deposits of Corus will be assumed by MB Financial Inc., which has more than $8 billion in assets and over 70 branches in Chicago and its suburbs. MB Financial earlier this month took over the assets, branches and assets of InBank, a small bank based in Oak Forest, Ill. Source

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