Midwest Banc Holdings

Melrose Park, Ill. | See all recipients in Illinois
Revenue to Gov't
Net Outstanding

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.

Date Type Amount Program Description
05/31/2009 Dividend $824,289 CPP
Dividends Paid Through 5/31/2009
This amount reflects the sum of dividends paid up to 5/31/2009
12/05/2008 Purchase $89,388,000 CPP
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.
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