WAUKESHA, Wis. — Central Illinois Bank's parent company reported net income of $34,000 in the first quarter of 2013, a turnaround from a year earlier when the banking concern had a net loss of $111,000.
For shareholders of CIB Marine Bancshares, that translated to essentially no earnings per share for the quarter, compared with a net loss of 1 cent per share a year earlier.
KANSAS CITY, Mo. — Commerce Bank stands to expand its business in Oklahoma as a result of its parent company's agreement to acquire Tulsa, Okla.-based Summit Bancshares.
Commerce Bancshares announced Wednesday that it agreed to acquire the Oklahoma banking concern for $40.6 million in stock.
CHAMPAIGN — Midland States Bank has opened its new office on West Springfield Avenue in Champaign, with plans for a monthlong grand opening starting next Monday.
The 4,500-square-foot full-service office at 1617 W. Springfield Ave., C, replaces Midland States' limited-service office at 1608 Broadmoor Drive, C.
CHAMPAIGN — Some holders of debit cards issued by the University of Illinois Employees Credit Union were caught by surprise last week when the credit union canceled the cards without prior notice.
The credit union took the action Thursday after it learned those card holders' information had been compromised as the result of a security breach at Schnucks supermarkets.
Most publicly traded banking companies in East Central Illinois reported increases in first-quarter earnings this year.
The notable exceptions were Commerce Bancshares, MainSource Financial Group and First Busey Corp. In each case, first-quarter earnings were down from a year ago.
CHAMPAIGN — First Busey Corp. reported a 16 percent decrease in first-quarter net income, compared with a year earlier.
In announcing the results, the Champaign-based parent of Busey Bank also said it's working to contain costs following a year in which salaries and employee benefits rose sharply.