Deals
ShoreBank, Seven Others Shuttered as 2010 Failures Reach 118
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ShoreBank Corp., the Chicago lender operating under a Federal Deposit Insurance Corp. cease-and-desist order for 13 months, and seven other banks were shut by regulators as 2010 bank failures climbed to 118.
ShoreBank’s 15 branches, including those in Chicago, Cleveland and Detroit, will open as Urban Partnership Bank, according to statements from the FDIC.