First SecurityFed Financial, Inc.

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First SecurityFed is a corporation that was formed in 1997 by the Bank for the purpose of becoming a savings and loan holding company. The Company owns all of the outstanding capital stock of the Bank.
As a community-oriented financial institution, First Security seeks to serve the financial needs of communities in its ethnically diverse market area.

Because First Security faces difficult challenges like the continued competition by mega-banks, the company concluded that it is in the best interests of the shareholders, customers, employees and communities to seek a merger partner with a larger commercial bank like MB Financial. After conducting their due diligence, a merger agreement was entered into on January 9, 2004 with MB Financial. The merger company will have now 40 local offices and almost $5.0 billion in assets after completion of the transaction.

The question here is whether First Security will keep the same employees or will it fire some of them. The management claims that they will keep all workers, but can we really trust managers theses days?


Agent T.