Crain's Chicago Business
The bank has 26 branches in the Chicago-land area and is ownedby Midwest Banc Holdings Inc. Midwest Bank has only a few weeksleft to raise $125 million in order to defer receivership.
Purchasing bids are due to the FDIC by May 10, which is likelyto mean the bank will fail around May 14. The bidding war forMidwest Bank is expected to be more competitive than any of theother failed banks in the area. Potential bidders include MBFinancial, Wintrust Financial Corp., First Merit Bank, US BancorpInc.
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