chicago il united states key people robert j. glickman number of employees 520 1 website www.corusbank.com footnotes references datasource zenobank 1 corus bankshares inc. nasdaq corsq operated as the holding company for corus bank n.a. a united states company that offered consumer and corporate banking products and services . the bank s deposit products included checking savings money market and time deposit accounts . its loan portfolio primarily comprised commercial real estate loans including condominium construction and condominium conversion loans ; commercial loans ; and residential real estate loans . the bank focused its lending activities in various metropolitan areas in florida and california as well as in las vegas new york city and washington d.c. it also provides safe deposit boxes as well as clearing depository and credit services to check cashing industry locations in the chicago area and in milwaukee wisconsin . as of december 31 2006 the bank operated 11 retail banking branches in the chicago metropolitan area . corus bankshares was founded in 1958 and is based in chicago illinois . corus bank is also known for having a relatively few number of branches for a publicly traded stock . as of the end of the first quarter of 2008 corus had a texas ratio of 70 % . 2 caught up in the financial crisis edit corus bank sign at development site located at 23 caton place in kensington brooklyn . as of august 1 2009 corus reported that it was highly undercapitalized and in need of government assistance . at the end of the previous quarter its tier 1 capital had fallen to negative 157 million . normally banks with negative tier 1 capital are immediately closed by the federal deposit insurance corporation fdic . 3 in mid august 2009 the bank was named as one of the biggest of more than 150 u.s. lenders which own nonperforming loans that equal 5 percent or more of their holdings . 5 percent is a threshold that former regulators have stated can wipe out a bank s equity and threaten its survival . 4 on september 11 2009 corus bank n.a. chicago il was closed by the office of the comptroller of the currency and the fdic was named receiver . 5 mb financial bank of chicago illinois assumed all deposits and approximately 3 billion of assets making all depositors of corus bank customers of mb financial . the fdic estimates the cost to the deposit insurance fund will be 1.7 billion . 6 a month later starwood capital group later purchased at 40 % equity share in a portfolio of construction loans and real estate owned assets formerly held by the bank . the fdic held the remaining 60 % equity share of the 4.5 billion portfolio . 7 references edit a b c company profile for corus bankshares inc cors . retrieved 2008 10 23 . bank failures to surge as credit crunch slows economy weekend edition . marketwatch . retrieved 2012 11 27 . timiraos nick 2009 08 01 . financial problems deepen at 2 banks . wall street journal . levy ari august 14 2009 . toxic loans topping 5 % may push 150 banks to point of no return . bloomberg news . new york city ny . failed bank information information for corus bank n.a. chicago il . fdic . 2009 09 11 . retrieved 2012 11 27 . press releases mb financial bank national association chicago illinois assumes all of the deposits of corus bank national association chicago illinois . fdic . 2009 09 11 . retrieved 2012 11 27 . magin janis l. october 6 2009 . starwood capital takes over failed corus . pacific.bizjournals.com . external links edit mb financial bank official site fdic official site retrieved from https en.wikipedia.org w index.php title corus bankshares & oldid 743336412 categories holding companies established in 1958companies based in chicago1958 establishments in illinoisholding companies of the united statesamerican companies established in 1958hidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages espa ol edit links this page was last modified on 9 october 2016 at 04 55 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view