Mitchell Feiger, president and CEO of MB Financial, Inc. (NASDAQ: MBFI)
announced that MBFI’s subsidiary, Chicago-based MB Financial Bank, N.A.,
acquired the deposits and loans of Oak Forest-based InBank at the close
of business today in a transaction facilitated by the Federal Deposit
Insurance Corporation (FDIC).
"Our top priority is to assure customers that their deposits are safe
and remain readily available to them,” says Feiger. "MB Financial Bank
has a healthy balance sheet and a strong capital and liquidity position.
We’ve been part of Chicago-area banking for nearly 100 years earning a
reputation for quality customer service and sophisticated banking
products and services. This agreement with the FDIC provides a safe and
secure home at MB for InBank customers.”
The three branches of InBank will reopen as MB Financial Bank on their
next normally scheduled business day; Oak Forest and Tinley Park will
reopen on Saturday morning, Sept. 5, 2009 and the Chicago branch on
September 8, 2009. Customers of InBank should continue to bank as usual.
"Once we consolidate InBank and MB computer operating networks, all
customers will have access to over 70 locations; our Telephone Banking
Center, which is open seven days a week; our Internet Banking systems
and our ATM network,” adds Feiger. "MB looks forward to serving the
banking needs of InBank customers.”
As of August 3, 2009, InBank had total assets of approximately $212
million and total deposits of approximately $200 million. MB will assume
all the deposits of InBank, except approximately $50.0 million of
brokered accounts. The FDIC will pay the brokers directly for these
accounts. In addition, MB agreed to purchase essentially all of the
assets of InBank.
Customers who have questions about today's transaction can call the FDIC
toll-free at 1.800.640.2600. The phone number will be operational this
evening until 9 p.m., CDT; on Saturday from 9 a.m. to 6 p.m., CDT; on
Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to
8:00 p.m., CDT. Interested parties can also visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/inbank/html.
MB Financial, Inc. will host a conference call at 9:00 a.m. CDT on
September 8, 2009. The number to call in the United States is
1.866.804.6928 (Passcode: 14706711). If this time is inconvenient, a
digital recording will be available two hours after the conference from
September 8 to September 15, 2009 by dialing into 1.866.286.8010 in the
United States (Passcode: 14586906). This call is being webcast and can
be accessed via the company’s web site at www.mbfinancial.com
under Investor Relations.
MB Financial Bank is a locally-operated financial institution that has
been delivering competitive personalized service for nearly 100 years to
businesses and individuals who live and work in the Chicago metropolitan
area. MB Financial Bank has over 70 locations throughout the Chicagoland
area.
MB Financial Bank is the Illinois local operating unit of MB Financial,
Inc., a financial services holding company which is traded on the NASDAQ
as "MBFI." MB Financial, based in Chicago, has more than $8 billion in
assets. Information about MB Financial can be found at www.mbfinancial.com.
Safe Harbor Statement: Statements in this press release that are not
historical facts are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. By their nature,
such statements are subject to numerous factors that could cause actual
results to differ materially from those anticipated in such statements,
as discussed in MB Financial Inc.’s filings with the Securities and
Exchange Commission.