MB Financial unit to redeem $5 million capital preferreds on Oct. 23

By Wendy Van Sickle

Columbus, Ohio, Sept. 10 – MB Financial, Inc. said FOBB Statutory Trust II will redeem all $5 million of its outstanding capital preferred securities on Oct. 23.

The redemption price is $5 million plus accrued interest of $100,000 to the redemption date, according to a press release.

MB Financial said the redemption is a result of the concurrent redemption that will be made by the company, as the successor in interest to First Oak Brook Bancshares, Inc., of its floating-rate junior subordinated debt securities due 2034, all of which are held by FOBB Statutory Trust II.

Wilmington Trust Co. is the trustee.

MB Financial is the Chicago-based holding company for MB Financial Bank, NA.

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