US govt seizes Corus Bank



Long controlled by Glickman family, Chicago-based Corus Bank crumbled under the pressure of bad loans on commercial real estate and condominium developments in Arizona, southern California, southern Florida and Nevada. The seizure of Corus and the failure of two smaller banks announced on Friday brought to 92 the number of shuttered banks in 2009.

Left behind in the wake of Corus Bank were 11 retail branches in the Chicago area, which are expected to reopen on their next business day as branches of MB Financial bank.

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