Bank's parent company trying to pay off $40 million debt

CHAMPAIGN – Central Illinois Bank's parent company is planning to pay off $40 million in debt so it won't have to sell off the company.

The parent company, Wisconsin-based CIB Marine Bancshares, released a long-awaited report Tuesday to the Securities & Exchange Commission showing the company suffered a net loss of $13.8 million in 2007.

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