BANKING & FINANCE - June 7, 1991
From Times Staff and Wire Reports
Continental Bank Corp. said the Federal Deposit Insurance Corp. has sold its 14.2 million shares in the Chicago-based bank, bringing the bank back to full public ownership. The sale brings to an end the agreement surrounding the government’s $1-billion rescue in 1984. The FDIC once held as much as 80% of Continental’s stock. Proceeds from Thursday’s sale--about $181 million--went to the FDIC.
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