Monday, August 20, 2012

Northern Trust Bank sells their Chatham branch to Urban Partnership Bank

7801 S State Street Chicago, IL
Earlier this month it was in the news - via WBEZ & Crain's - that Northern Trust Bank is selling their Chatham branch located at 7801 S. State to Urban Partnership Bank. Urban Partnership Bank which is the successor to the failed ShoreBank also has a branch nearby on Cottage Grove and the future of that building is in question although it is assumed that it will remain in operation.

Worlee noted that the Monroe Foundation had raised an objection to this sale with the FDIC - who regulates the banking industry for the federal government - that is expected to be completed at the end of the year. Other than that what are your thoughts on this development?

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