Minority-Owned Urban Partnership Bank Seeks Buyer
Urban Partnership Bank in Chicago is considering selling itself. The $484 million-asset bank is seeking to determine possible interest from buyers. David Vitale, Urban Partnership's chairman, said that the bank, which has shrunk over the past seven years, would benefit from being part of a better capitalized entity. Urban Partnership, designated as a minority bank, was formed in 2010 to buy the failed ShoreBank. Vitale said that Urban Partnership could also stay independent, with a decision likely this spring.