Executives with the Federal Deposit Insurance Corp. said that as of the end of June, the bank--which was a major lender for condo developments--had $7 billion in assets and $7 billion in deposits.
MB Financial Bank has entered into a purchase and assumption agreement in order to take over Corus' deposits according to FDIC officials. Reports state that MB will pay a 0.2% premium for the deposits and will also buy roughly $3 billion of assets. MB owned about $8 billion in assets before the Corus deal.
The remaining assets will be sold off by the FDIC over the next 30 days. Corus operated 11 branches throughout Illinois.
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