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Chicago Sun-Times
Chicago Sun-Times
National
David Roeder

Buyer of Chicago’s Amalgamated Bank scraps deal

Chicago New York
Amalgamated Bank of Chicago’s headquarters, 30 N. LaSalle St. | Provided

The planned $98.1 million sale of Amalgamated Bank of Chicago has been scrapped.

The would-be buyer, Amalgamated Financial in New York, said in a brief announcement Friday that it could not obtain regulatory approval of the sale, so it “is no longer proceeding with the transaction.” When the deal was announced in September, the banks had said they hoped it would close by the end of 2021.

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