PE Takes $138M Bite Of Chicago's Standard Bank

Law360, New York (February 26, 2013, 2:24 PM EST) -- Investors led by Stone Point Capital LLC have bought $138 million of newly issued stock in the parent company of Chicago-area Standard Bank and Trust Co., which becomes the latest regional lender to get a recapitalization boost from private equity.

The cash injection, which closed Tuesday, will help shore up holding company Standard Bancshares Inc., including the repayment of about $60 million in Troubled Asset Relief Program funds in April 2009.

"This capital will allow Standard to fully repay its TARP obligations to the U.S. Department...
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