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Oct. 2, 2009, 3:47 PMStarwood Capital's group is the likely winner in the auction of failed Corus Bank's (CORS) $5B of condo loans and other assets, what remained after MB Financial (MBFI) assumed $6.6B in deposits. The loans are still distressed and the FDIC will take a 60% stake in the partnership of the auction winner. | Comment!
Sep. 11, 2009, 7:46 PMMB Financial (MBFI) assumes deposits of Corus Bank (CORS), seized by regulators in the year's 90th bank failure. The eleven Corus branches will reopen as MB Financial branches on their next business day. MB Financial assumes all $7B in deposits and will purchase $3B in assets; the FDIC will sell remaining $4B in assets in the next 30 days. Estimated cost to the DIF: $1.7B. | Comment!
Sep. 11, 2009, 6:04 PMChicago's MB Financial (MBFI) will take over the assets and some deposits of Corus Bank (CORS), Crain's reports. Most assets will be sold to PE and real estate outfits in coming weeks. MB Financial has more than $8B in assets and 70 branches; Corus, whose failure has been in the cards for some time, has $7B in deposits, mostly high-rate Internet CDs. After hours: MBFI -3.1%, CORS +7.6%. | Comment!
Aug. 14, 2009, 1:41 PM
Feb. 2, 2009, 7:58 AM
Corus Bankshares, Inc., incorporated in Minnesota in 1958, is a bank holding company registered under the Bank Holding Company Act of 1956. Corus, through its wholly-owned banking subsidiary, Corus Bank, N.A. (the “Bank”), is primarily focused on commercial real estate lending and deposit... More
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