MB Financial Bank was bought by Fifth Third Bank in 2018. The purchase helped Fifth Third increase in size significantly.
MB Financial Bank, a subsidiary of MB Financial, Inc. (NASDAQ: MBFI), was a 100+ year old bank serving the Chicagoland area. The bank had almost $10 billion in assets and 90 branch banking locations in Chicago and the nearby suburbs. MB Financial offered competitive mortgage rates, savings accounts, CDs, and other financial products.
MB Financial Bank's history dates back to 1911, when a group of Chicagoans formed the Mid-City National Bank. Manufacturers Bank was created in 1913 in Chicago's West Town / Wicker Park neighborhoods. Both banks successfully survived the Great Depression and grew through committed service to the local community. In 2011, Mid-City and Manufacturers merged to form MB Financial Bank, creating one of Chicago's biggest independent banks.
MB Financial offered personal banking and borrowing options to thousands of Chicagoland citizens. MB's banking products included checking, MB Red Checking, savings accounts and certificates of deposit (CDs), debit cards, and Internet and mobile banking. In terms of borrowing, MB Financial provided home equity loans, personal & vehicle loans, credit cards, and mortgages. As a mortgage lender, the bank offered fixed rate and adjustable rate mortgages (ARMs). Many of these services are still offered by Fifth Third.
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