Brief: Illinois bank to set up Las Vegas office

A spokesman said the federally chartered bank office is planned at 3800 Howard Hughes Parkway, Suite 1560, and is being located in Nevada for tax advantages as an indirect mortgage wholesale office.

The company has a long-term plan to establish a retail presence in Nevada, but spokesman Mike Hatfield said it hasn't been determined when M&i would expand beyond a one-person office.

Zion is a north shore suburb of Chicago and the bank has five branches with deposits totalling $300 million serving Chicago's north side.

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