Midwest Banc Holdings, Inc. Announces Completion of Onsite Regulatory Examination.Business Editors
MELROSE PARK Melrose Park, village (1990 pop. 20,859), Cook co., NE Ill., an industrial suburb of Chicago; inc. 1893. It has large railroad yards and shops, steel mills, and factories that make a wide variety of products. , Ill.--(BUSINESS WIRE)--May 9, 2003
As previously disclosed, on March 3, 2003, the Federal Reserve Bank of Chicago
The Federal Reserve Bank of Chicago is one of twelve regional Reserve Banks that, along with the Board of Governors in Washington, D.C. and the Illinois Office of Banks and Real Estate began a regularly scheduled examination of Midwest Banc Holdings, Inc.'s (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MBHI MBHI Millon Behavioral Health Inventory ) banking subsidiaries. The examination included, among other items, a review of the Company's over-all risk management, lending and credit review practices. The regulators have completed their onsite review and, based upon preliminary discussions with the regulators, the Company expects some form of informal or formal regulatory action will be taken. The Company expects to receive the written examination report later in the second quarter.
Midwest Banc Holdings, Inc. provides a wide range of retail and commercial lending services, personal and corporate trust services, residential mortgage origination, and securities and insurance brokerage activities throughout the greater Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway.
The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. and Western Illinois. The Company's principal operating subsidiaries are: Midwest Bank and Trust Company, Midwest Bank of Western Illinois, Midwest Financial and Investment Services, Inc. and Midwest Bank Insurance Services, L.L.C.
This press release contains certain "Forward-Looking Statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and should be reviewed in conjunction with the Company's Annual Report on Form 10-K Form 10-K
A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.
See 10-K. and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth certain risks and uncertainties related to the Company's business which should be considered in evaluating "Forward-Looking Statements." The Company assumes no obligation to update publicly any of these statements in light of future events.