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The Wednesday Express: Illinois-based Old Second to buy in-state peer

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The Wednesday Express: Illinois-based Old Second to buy in-state peer

* In Illinois, Old Second Bancorp is acquiring Greater Chicago Financial and unit ABC Bank in an all-cash deal valued at approximately $41.1 million.

* Chanute, Kan.-based Community Bancorp is buying Nevada, Mo.-based Shelbank and unit Heritage State Bank, The Chanute Tribune reported.

* Flagstar Bancorp projects a one-time noncash charge of about $80 million, or $1.38 per share, to its fourth-quarter provision for income taxes due to the new tax law.

* Meanwhile, insurer Chubb expected the new U.S. tax law to result in a one-time benefit of more than $250 million in the fourth quarter.

* In the third quarter, GEICO reported the highest loss ratio on the company's private auto line of business for any quarter since 2001.

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