First Midwest Bank in Itasca, Ill., approached its first failed-bank acquisition cautiously.

The $7.6 billion-asset bank scooped up First DuPage Bank in Westmont, Ill., a tiny bank only a half-hour drive away. The Oct. 23 deal allowed First Midwest to learn the ropes of failed-bank purchases by taking over a small institution in its own backyard.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access