Friday, September 22, 2017 || By Michael Romain || @maywoodnews
A report released in August by the Federal Deposit Insurance Corporation concluded that Seaway Bank & Trust failed because of bad governance and risk management practices that flowed from the institution’s board of directors.
Continue reading “Report: Seaway Bank’s Failure Was Self-inflicted, Acquiring Maywood Bank Didn’t Help”
Federal and state regulators walking to Midwest Bank in Elmwood Park to close it down in 2010. | Scott Olson/Getty Images Friday, Aug. 5, 2016 || By Michael Romain || @maywoodnews || @village_free The Melrose Park-based Midwest Banc Holdings — the publicly traded banking institution founded in 1959 — may have went out of business in 2011, but apparently some of its employees are still paying for their connection … Continue reading Failed Melrose Park Bank’s Officers, Directors Must Pay $26.5M to Feds