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Itasca-based Aircell, a provider of in-flight Internet services, says it has raised an additional $35 million from its private-equity investors and management.
That brings its total raised since 2006 to more than $500 million. Its investors include Ripplewood Holdings and Blumenstein Thorne Information Partners.
Read the announcement.
byerak@tribune.com
The stock of $2.12 billion-asset Old Second Bancorp Inc. was down 16.6 percent in late morning trading as the troubled Aurora-based lender reported a fourth-quarter loss of $76.6 million, or $5.48 a share. Get the full story »
Deerfield Capital Corp. said it will buy private credit asset-management company Commercial Industrial Finance Corp. for about $53 million in cash and stock.
Following the completion of the merger, CIFC Chief Executive Peter Gleysteen will become chief executive of the combined company, while Deerfield Chief Executive Jonathan Trutter will become a vice chairman. The new company will have its headquarters in New York and its main operations in Chicago. Get the full story »
Integra Bank Corp. said its banking unit may not be able to meet regulatory capital directives within the stipulated 90-day period and reported its tenth straight quarterly loss.
The Evansville, Indiana-based company, which has been selling assets and branches in a bid to improve its capital levels, said it continues to seek buyers for its Chicago-area branches. Get the full story »
A $7 billion-asset Warrenville credit union that suffered massive losses in mortgage-backed securities was one of three critically undercapitalized institutions seized Friday by the U.S. government.
Members United Corporate Federal Credit Union was one of three “wholesale,” or “corporate,” credit unions put into conservatorship by the National Credit Union Administration. Get the full story »
The Federal Deposit Insurance Corp. has told ShoreBank that it has begun the process in which it ultimately seeks bidders for the undercapitalized bank, according to a report Tuesday afternoon from Fox Business.
Brian Berg, a ShoreBank spokesman, would neither confirm nor deny the report that the bank’s days as an independent institution are numbered. The bank continues to try to look at options to raise capital to stave off seizure by regulators. Get the full story »
