Chicago-based Seaway Bank & Trust is initiating a capital-raising campaign that could come at the expense of its status as the largest black-owned bank in the Midwest. The bank has suffered $16 million in total losses over the past five quarters, putting its capital below the minimum needed for the bank to be deemed “adequately capitalized” by regulators. Compounding the losses is the bank's lack of stable leadership. The bank remains without a CEO since the departure in September of Darrell Jackson, who led Seaway for only a year before his exit. Executive Chairman Veranda Dickens has stepped in the interim. The bank also payed more than $9 million in fees to consultants and advisors last year. Seaway is now preparing to raise more than $15 million in fresh capital, which would likely require the bank to take on new investors regardless of their race.