Urban Partnership Bank, the newly formed group that last week bought failed Chicago-based ShoreBank, has named five-people to its board of directors.

It includes three former First Chicago executives who had joined ShoreBank in recent months during its last-ditch and ultimately unsuccessful effort to raise capital so state and federal regulators wouldn’t seize it.

Those are David Vitale, who, as previously reported, will serve as chairman; William Farrow, who, as reported, will be president and chief executive officer; and Eileen Kennedy, another former First Chicago executive who had joined ShoreBank in recent months. Get the full story »