Northern Trust promotes Michael O'Grady to CEO


Frederick Waddell will retire as CEO of the Chicago custody bank at the end of 2017 but will remain chairman.


First American to buy Southport Financial


The cash acquisition allows First American to expand its operations in Kenosha, Wis.


Associated to buy Chicago-area wealth management firm


Associated's agreement to buy Whitness & Co. comes just weeks after the company lined up its first bank deal since the financial crisis.


Bankers frustrated with Chicago market take business elsewhere


Rising taxes, declining population and the political landscape in Illinois have led several bankers to put more money and resources into nearby states.


Difficult deal behind it, CIBC faces even bigger challenges


The Canadian bank twice sweetened its bid for PrivateBancorp, raising the stakes. Now it must gain traction in the hypercompetitive Chicago market while hunting for more acquisitions.


CIBC says $5B PrivateBank deal will fuel U.S. expansion


CIBC plans to spend two years focusing on internal growth at PrivateBank except for some targeted wealth management acquisitions, but ultimately capital outlays or takeovers will be necessary to meet its growth ambitions.


Chicago-area bank's IPO sets stage for acquisitions


Byline Bancorp's decision to go public sends a message that it plans to dangle a more liquid stock in front of potential sellers. It also provides a way for certain shareholders to cash out.


Chicago bank, large investors plan $120 million IPO


The offering would be a big milestone for Byline Bancorp, which was recapitalized in 2013 by a group led by former Banco Popular North America CEO Roberto Herencia.


QCR to bulk up in central Iowa


The Illinois company agreed to pay $44 million to buy Guaranty Bank, the biggest institution based in Cedar Rapids, Iowa.


Fayette County Bank becomes year's sixth failure


The bank is the second failure in Illinois so far in 2017. Seaway Bank was closed in late January.