Which bank is going to be taking over Corus Bank, ad how will it effect customers?”
MB Financial to take over Corus Bank branches By: Steve Daniels Sept. 11, 2009 (Crain’s) — MB Financial Inc. will assume the branches and deposits of Corus Bank, the long-troubled Chicago-based condominium development lender that was seized Friday by federal regulators. Chicago-based MB Financial, with more than $8 billion in assets and over 70 branches in the city and suburbs, will immediately add Corus’ 11 branches to its network. The Corus branches will open Saturday under the MB Financial name. MB Financial will also purchase $3 billion of Corus’ $7 billion in deposits, most of which are high-interest-rate certificates of deposits sold over the Internet. The Federal Deposit Insurance Corp. will sell most of Corus’ remaining assets in the next 30 days. An MB Financial spokeswoman didn’t immediately return a call seeking comment. The deal for Corus is a coup for MB Financial CEO Mitchell Feiger, who has been the most aggressive Chicago banker in bidding for the branches, deposits and
MB Financial Inc. will assume the branches and deposits of Corus Bank, the long-troubled Chicago-based condominium development lender that was seized Friday by federal regulators. Chicago-based MB Financial, with more than $8 billion in assets and over 70 branches in the city and suburbs, will immediately add Corus’ 11 branches to its network. The Corus branches will open Saturday under the MB Financial name. MB Financial will also purchase $3 billion of Corus’ $7 billion in deposits, most of which are high-interest-rate certificates of deposits sold over the Internet. The Federal Deposit Insurance Corp. will sell most of Corus’ remaining assets in the next 30 days. An MB Financial spokeswoman didn’t immediately return a call seeking comment. The deal for Corus is a coup for MB Financial CEO Mitchell Feiger, who has been the most aggressive Chicago banker in bidding for the branches, deposits and assets of failed lenders. While the quality of Corus’ overall deposit base isn’t strong, m
