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updated: 8/19/2014 11:56 AM

MB Financial completes Taylor Capital purchase, merges banks

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By Steven Crabill
Bloomberg News

MB Financial Inc. completed its acquisition of Taylor Capital Group Inc., the holding company for Cole Taylor Bank, as is it expands operations in Chicago.

MB Financial merged Cole Taylor into MB Financial Bank, the Chicago-based buyer said today in a statement. MB Financial has about $15 billion in assets, according to the statement.

MB Financial gained 2.9 percent to $27.26 at 10:10 a.m. in New York. The shares have slid 17 percent this year, compared with the 3.1 percent decline of the Standard & Poor's Small Cap Financials Index.

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