Urban Partnership Bank Takes Over ShoreBank's Bank in Midwest US

Urban Partnership Bank’s recently purchased the core deposits and most of the assets of ShoreBank Corporation’s Midwest bank. Mary Cahillane, Chair of ShoreBank Corporation said, “While our preference would have been to recapitalize and continue ShoreBank’s Midwest bank, we are delighted that the communities that bank served so well for so many years will have access to a dedicated, high quality, full service community bank, led by a highly qualified management team.”

ShoreBank International Ltd. (SBI), a subsidiary of ShoreBank Corporation, will also continue without interruption. SBI advises financial institutions and their funders in emerging and transitional economies in small business, micro and housing finance.

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