Midwest Banc Holdings Likely To Fail Friday
14 5월 2010 - 6:22AM
Dow Jones News
Midwest Banc Holdings Inc. (MBHI) will likely fail and be placed
into Federal Deposit Insurance Corp. receivership late Friday
because of undercapitalization, according to a Securities and
Exchange Commission filing Thursday from the bank holding
company.
The bank, which has $3.18 billion in assets and $2.42 billion in
deposits, said that the Federal Reserve Bank rejected its capital
plan March 25 and that it does not expect to reach capital
requirements by the May 13 Prompt Corrective Action Directive
deadline.
Shares of Midwest Bank fell 16% to 18 cents a share in
after-hours activity following a 17.3% decline on the day.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
Midwest Banc Hlds (MM) (NASDAQ:MBHI)
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