CHICAGO
04/03/2010 05:12 am ET | Updated May 25, 2011

Alexi Giannoulias: Broadway Bank 'Changed Sharply' Under His Tenure, Reports Chicago News Coop

After law school, Mr. Giannoulias went to work full-time at the bank in 2002. He quickly became a senior loan officer and then a vice president. Whether merely by coincidence, or because of the ambition and aggressiveness of its well-pedigreed new junior executive, the bank's profile changed sharply between then and when Mr. Giannoulias resigned after winning the race for state treasurer in November 2006.

According to a review of the bank's annual filings with the Federal Deposit Insurance Corporation from 2001 through Sept. 30, 2009, the bank plunged into the sort of lending that has caused bank crises across the country: construction and development loans. Mr. Giannoulias's lending department sharply increased the construction and development portfolio to $356 million by 2006, six times the level it had been before he went to work there.

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