Midwest's Revival Plan Takes Key Step Forward

Barba, Robert
January 2010
American Banker;1/25/2010, Vol. 175 Issue 12, p1
Trade Publication
The article reports that Midwest Banc Holdings Incorporated of Melrose Park, Illinois has announced that it persuaded over 80% of its preferred shareholders to convert to common shareholders. According to the article, while it still has credit problems, this exchange is considered essential in trying to revive the company. Midwest must win approval from the U.S. Treasury Department to convert its investment made under the U.S. Troubled Asset Relief Program from preferred shares to common equity.


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