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The Business Resource for Suburban Chicago
Saturday, April 18, 2015 8:07 AM
  • ROSEMONT -- Wintrust Financial Corp. said net income for the first quarter of 2015 rose 13 percent on strong performance in its loans, deposits and mortgage business, as well as recent acquisitions . 
  • ITASCA -- First Midwest Bank announced the launch of First Midwest Equipment Finance, which provides equipment leasing and financing alternatives to traditional bank financing 
  • ROSEMONT -- Wintrust Financial Corp. said it will acquire Suburban Illinois Bancorp the parent company of Suburban Bank & Trust Company, for approximately $12.5 million in cash
     
  • ROSEMONT -- Wintrust Financial Corp. said it will acquire North Bank in Chicago for approximately $17 million in cash. 
  • SUGAR GROVE  – The Illinois SBDC at Waubonsee has announced that Castle Bank, an Illinois-based division of First National Bank of Omaha, has for a second year committed additional funds to help the Illinois SBDC at Waubonsee sustain its mission of providing services to help entrepreneurs and small business owners continue to drive the local economy forward.
     
  • BURR RIDGE -- BankFinancial Corp.'s board of directors has authorized a stock repurchase of up to 1.1 million shares of the company's common stock, approximately 5 percent of the company's issued and outstanding shares. 
  • WAUKEGAN -- Consumers Credit Union recently awarded $1,500 scholarships to six Lake County high school seniors, to be used at the college or university of their choice. 
  •  CHICAGO – The Federal Savings Bank has completed its merger with Baytree National Bank & Trust Co. in Lake Forest. 
  • WHEATON — Independent investment firm Elkhorn Capital Group announced it will recognize World Water Day, an initiative of the United Nations bringing attention to the need for new infrastructure addressing water shortages that result from pollution, decaying infrastructure and shifting weather patterns. 
  • WAUKEGAN — Northern States Financial Corp., the holding company for NorStates Bank, reported net income available to common stockholders for the year 2014 of $15.6 million, 26 cents per share, compared with a net loss for 2013 of $2.8 million, or 65 cents per share. 
  • CHICAGO -- Federal Reserve Bank of Chicago President Charles Evans, who votes on policy this year, said in a research paper that interest rates should remain near zero for longer amid “substantial uncertainty” about inflation and employment. 
  • Businesses have several options to obtain loans

    As a commercial banker for the past 20-plus years dealing predominately with privately held, family run businesses, I want to let you know we have come a long way from the Credit Crisis of 2008/2009, when most banks were not lending, or if they were, they were extremely cautious.

     
  • The Fed will raise rates — what does that mean to you?
    The Federal Reserve Bank has two important roles in the U.S. economy — it is mandated to promote economic growth and keep inflation under control.
    Interest rates are the primary mechanism the Fed has to attempt to fulfill these mandates. Lowering interest rates fuels economic growth, while raising interest rates tempers the rate of growth. 
  • Boomers soon will be force behind M&A deals
    The mega deals get the majority of the headlines. But the vast majority of M&A deals fall below $50 million in purchase price. These small deals — well, not to me — normally don’t get the same attention. Yet statistics indicate seven out of ten lower middle market businesses are owned by baby boomers. 
  • Factoring an option to help you seize the day

    Seize the Day: Stirring words, full of hope and promise and opportunity. After this 6-year-long economic nap (nightmare) especially as the calendar says Spring is nigh, it’s an exciting idea.

     
 
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