Midwest Banc Holdings
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.
This investment resulted in a loss to taxpayers.
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
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.