Oak Park-based FBOP Corp., Chicago’s third-largest locally headquartered bank holding company, was seized Friday by the Federal Deposit Insurance Corp.
when the federal government seized mortgage giants Fannie Mae and Freddie Mac during the height of the financial panic, wiping out more than $800 million in Fannie and Freddie preferred stock held by FBOP. That put the $18.6-billion-asset bank holding company, owned solely by CEO Michael Kelly, into a capital hole it couldn’t fill.
Click on the following for more details: FBOP fails, U.S. Bancorp the buyer | Crain's Chicago Business
No comments:
Post a Comment