Journalism in the Public Interest

Midwest Banc Holdings

Melrose Park, Ill. | See all recipients in Illinois

This investment resulted in a loss to taxpayers. See below for details.

$89.4M Disbursed
$0 Returned
$824K Revenue to Gov't
$88.6M Net Outstanding
$89.4M Committed
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On Friday, May 14, 2010, Midwest Bank and Trust Company, Elmwood Park, IL was closed by the Illinois Department of Financial Professional Regulation - Division of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.


  • $824K Revenue

    May 31, 2009 Dividends Paid Through 5/31/2009

    This amount reflects the sum of dividends paid up to 5/31/2009

  • $89.4M Bailout

    Dec. 5, 2008 Purchase - Preferred Stock w/ Warrants

    On 3/8/2010, Treasury exchanged its $84,784,000 of Preferred Stock in Midwest Banc Holdings, Inc. (MBHI) for $89,388,000 of Mandatory Convertible Preferred Stock (MCP), which is equivalent to the initial investment amount of $84,784,000, plus $4,604,000 of capitalized previously accrued and unpaid dividends. Subject to the fulfillment by MBHI of the
    conditions related to its capital plan, the MCP may be converted to common stock.

Date Type Amount Program Description
05/31/2009 Dividend $824,289 CPP Dividends Paid Through 5/31/2009
12/05/2008 Purchase $89,388,000 CPP Purchase - Preferred Stock w/ Warrants

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