EXHIBIT 99.1
MB FINANCIAL, INC.
1200 NORTH ASHLAND AVENUE
CHICAGO, ILLINOIS 60622
(773) 278-4040
NASDAQ: MBFI
PRESS RELEASE
FOR INFORMATION AT MB FINANCIAL, INC.:
INVESTOR CONTACTS:
Mitchell Feiger - President & CEO Jill E. York - Vice President & CFO
(773) 292-6271 (773) 645-7866
feiger@manbk.com york@manbk.com
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MEDIA CONTACTS:
Karen Perlman Raymond Minkus
Manufacturers Bank Minkus & Dunne Communications
(773) 292-6292 (312) 541-8787
perlman@manbk.com rdm@minkus-dunne.com
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FOR IMMEDIATE RELEASE
MB FINANCIAL TO ACQUIRE AND THEN MERGE
FIRST SAVINGS & LOAN ASSOCIATION OF SOUTH HOLLAND
INTO MANUFACTURERS BANK;
COMBINED ASSETS TO TOTAL $1.7 BILLION
CHICAGO, IL (FEBRUARY 9, 2001) - MB FINANCIAL, INC. (NASDAQ: MBFI), parent
company of Manufacturers Bank, the 12th largest banking group in the Chicago
area, has entered into an agreement to acquire FSL Holdings, Inc., and its
principal operation, First Savings & Loan Association of South Holland.
The announcement was jointly made by Mitchell Feiger, President and CEO of MB
Financial, Inc. and Chairman of Manufacturers Bank, and Harry Dykstra, Jr,
Chairman and CEO of FSL Holdings Inc. and First Savings & Loan Association of
South Holland.
The combination by MB Financial of Manufacturers Bank, which reported assets of
$1.5 billion for its fiscal year ended December 31, 2000, and First Savings &
Loan Association of South Holland, will increase the total asset size of the
combined entity to in excess of $1.7 billion. First Savings & Loan Association
of South Holland reported assets of $218 million for its most recent fiscal year
ended July 31, 2000. The transaction is expected to be completed in the second
quarter of 2001 and is subject to regulatory approval.
The acquisition of the single location First Savings & Loan Association of South
Holland strengthens Manufacturers Bank's presence in the southern suburbs and
bolsters its overall consumer deposit base.
- more -
MB FINANCIAL ACQUISITION
PAGE 2
First Savings & Loan Association of South Holland, located at 475 E. 162nd
Street, will assume the Manufacturers Bank identity upon closing. The location
will become Manufacturers Bank's second largest banking center, following its
headquarters at 1200 North Ashland Avenue in Chicago.
Manufacturers Bank has additional south suburban locations in South Holland,
Lansing and Tinley Park from which it provides a wide range of retail and
commercial banking services.
Don A. De Graff, a Director of FSL Holdings Inc. and President of First Savings
& Loan Association will become President of Manufacturers Bank's Southeast
Region. At the completion of the acquisition, he will have responsibility for
operations of the South Holland branch and also for business development.
"Manufacturers Bank has become one of the fastest growing institutions in the
Chicago area through its strategic acquisitions and by emphasizing relationship
banking services," said Feiger. "We are delighted to be adding First Savings &
Loan Association of South Holland to our family and further strengthen our
commitment to such a wonderful community."
"We have had a strong presence in the South Holland community for more than four
decades and our customers have reciprocated by being dedicated to us," added De
Graff. "Manufacturers Bank's core business values closely parallel our own."
Manufacturers Bank (WWW.MANUFACTURERSBANK.COM), is a locally operated financial
institution, which has been delivering competitive personalized service for more
that 66 years to privately-owned, middle-market companies as well as to
individuals who live and work in the Chicago metropolitan area. Manufacturers
Bank's holding company, MB Financial, Inc., is traded on NASDAQ as "MBFI".
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THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS THAT INVOLVE RISK AND
UNCERTAINTIES, WITH RESPECT TO THE RESULTS OF OPERATIONS AND OTHER UNCERTAINTIES
THAT MAY NOT BE KNOWN OR ANTICIPATED BY THE COMPANY. WHILE MANAGEMENT OF THE
COMPANY USES ITS BEST EFFORTS TO BE ACCURATE IN MAKING FORWARD-LOOKING
STATEMENTS, ANY SUCH STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT
COULD CAUSE THE COMPANY'S ACTUAL RESULTS TO VARY MATERIALLY FROM THE FUTURE
RESULTS INDICATED IN SUCH FORWARD-LOOKING STATEMENTS.