News Topic: Illinois
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Old Second Bancorp buying West Suburban to bulk up in Chicago
Old National fills Chicago-sized void with latest deal
Old National, First Midwest agree to $6.5 billion merger
Illinois credit unions welcome lower deposit insurance fees
Longtime CEO of NuMark Credit Union retires
Former Baxter Credit Union chief dies
Illinois caps consumer rates at 36%, adopts state-level CRA
Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state. ]] ... Read full article
First Busey to expand around Chicago with acquisition
The Illinois company will pay $191 million for the parent of Glenview State Bank. ... Read full article
Illinois caps interest rates on consumer loans at 36%
It is the 18th state to pass a law imposing rate caps on all consumer loans, including payday and car title loans. ... Read full article
First Mid in Illinois discloses plan to close branches
The company is looking to shutter 10 of its 63 branches over coming months, reflecting a shift in customer preferences. ... Read full article
Maine-Illinois credit union merger could foreshadow a trend
Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players. ... Read full article
Midland States in Illinois to close 13 branches
The company also plans to shed some corporate office space by the end of this year. ... Read full article
QCR records impairment charge tied to planned advisory group sale
The Illinois company will sell Bates Cos. to an undisclosed buyer less than two years after buying the wealth management firm. ... Read full article
State privacy bills try to cut banks a break, but not completely
Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches. ... Read full article
NBT in New York buying employee benefits firm
The company agreed to acquire Alliance Benefit Group of Illinois, which has more than 600 clients and 40,000 plan participants. ... Read full article
Wintrust lines up next-gen leadership with exec promotions
Timothy Crane is set to succeed Ed Wehmer as president, though Wehmer will remain the Illinois company's CEO. ... Read full article
Chicago de novo bank effort cleared to raise capital
Organizers of First Women's Bank have also filled two key executive posts. ... Read full article
Midwest banks resist urge to loosen lending standards
Even in the face of soft loan demand, banks in the region have held firm on terms. That should position them well for the next economic downturn. ... Read full article
6 takeaways from bank M&A in 2019
Though there were several high-profile mergers of equals among bigger banks, deal activity rose only slightly, and the vast majority of transactions involved the smallest of institutions. Here's an overview of those trends and others that stood out in ... Read full article