So for the first time in it's history, I believe Seaway Bank is going to cross state lines according this story:
Chicago's Seaway Bank & Trust Co., the city's largest African-American-owned bank, entered the Milwaukee market Friday with the purchase of a failed black-owned lender.
The acquisition of Legacy Bank, founded 12 years ago by three African-American women to cater to underserved parts of Milwaukee, is Seaway's second failed-bank deal in the last five months. It bought First Suburban National Bank in west suburban Maywood in October.
Wisconsin banking regulators closed Legacy Bank. Seaway acquired $183 million in deposits and $166 million in assets from the Federal Deposit Insurance Corp., which seized Legacy Bank Friday. Seaway entered into a loss-share agreement with the FDIC on $120 million of those assets.
With $517 million in assets as of Dec. 31, Seaway serves mainly the South Side and has branches and ATMs at both O'Hare and Midway airports.