TITLE

ShoreBank's Rescue Gives Community Lenders Hope

AUTHOR(S)
Barba, Robert
PUB. DATE
May 2010
SOURCE
American Banker;5/19/2010, Vol. 175 Issue 77, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the capital committed to the ShoreBank Corporation in Chicago, Illinois could have benefits for other community development banks. According to the article, the sender had secured 140 million dollars in capital commitments, which exceeds the amount needed to become eligible for a U.S. Treasury Department investment. The investors in ShoreBank include Citigroup Incorporated, Bank of America Corporation, and JPMorgan Chase and Company.
ACCESSION #
50734538

 

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