Independent Bankers’ Bank fails: Regulators on Friday shut down Independent Bankers’ Bank of Springfield, the 21st bank to fail in Illinois this year. The bank — a kind of wholesale bank that provided services to 450 client banks in four states — had $585.5 million in assets and $511.5 million in deposits. The Federal Deposit Insurance Corp. set up a temporary “bridge bank,” which the agency will operate as it seeks a buyer.
Football deal finalized: An investor group on Friday completed a $6.1 million purchase of the Arena Football League’s assets, clearing the way for the relaunch of indoor football in Chicago and other cities. The deal allows the new league, Arena Football One, to use the logos, team names and trademarks of the former league. The ownership group in Chicago plans to adopt the Chicago Rush name and has started selling season tickets.
