Friday, July 13, 2007

B of A wins LaSalle Bank

I'll admit it: I thought other bidders were better fits for LaSalle Bank because it would be better for the bank to retain some of its autonomy -- and its name -- that I think would have happened with someone other than Bank of America. I just thought that would be better for Chicago and for its business community.

But with the Dutch Supreme Court ruling in B of A's favor, that hope is gone, and the Charlotte-based behemoth finally has its strong foothold in Chicago. It also eliminates the possibility of massive litigation. I hope they keep the LaSalle spirit in underwriting loans. I hope they will be as good a corporate citizen as ABN/AMRO has.