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The Chicago-area company has started financing employee stock-ownership plans as a way to eke more business out of commercial clients.
May 13 -
Taylor Capital Group (TAYC) in Rosemont, Ill., said that its bank has hired a former team from LaSalle National Leasing to run a new equipment finance division.
July 13 -
Solera National Bancorp in Lakewood, Colo., is revisiting a deal that regulators blocked three years ago, with a few modifications.
February 20 -
The Office of the Comptroller of the Currency took regulatory action against 11 financial institutions and terminated orders against five others in April, the agency said Friday.
May 17
Taylor Capital Group (TAYC) in Chicago plans to enter the mortgage-servicing business through the purchase of servicing rights and facilities from Liberty Savings Bank of Wilmington, Ohio.
The $5.8 billion-asset Taylor said Tuesday that it has bought the servicing rights to approximately 4,600 loans, along with office space and other infrastructure, from Liberty. It also expects to take on all 50 of Liberty's loan-servicing employees inWilmington. Financial terms were not disclosed.
The Wilmington facility will become part of Cole Taylor Mortgage, which currently relies on a third-party mortgage servicer.
Bringing servicing in-house "will be an important step in the continued growth and expansion of Cole Taylor Mortgage," Mark Hoppe, the chief executive of Taylor Capital, said in a news release. "It will provide Cole Taylor Mortgage with the ability to directly manage the operations and related costs associated with mortgage servicing, and most importantly, customer care related to its growing residential mortgage servicing portfolio."
Taylor Capital has been expanding its niche lending operations in the past year. Last month it announced plans to establish a group that
The Wilmington servicing facility is the $546 million-asset Liberty's only Ohio office; it has 12 other locations in Colorado and Florida. In February, Liberty
