MCB FINANCIAL CORPORATION,

                                    AS ISSUER













                                    INDENTURE

                          DATED AS OF SEPTEMBER 7, 2000







   STATE STREET BANK AND TRUST COMPANY, OF CONNECTICUT, NATIONAL ASSOCIATION,

                                   AS TRUSTEE









               JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES





                                    DUE 2030







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                                TABLE OF CONTENTS

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ARTICLE I. DEFINITIONS....................................................................................1



         Section 1.1.      Definitions....................................................................1



ARTICLE II. DEBT SECURITIES...............................................................................8



         Section 2.1.      Authentication and Dating......................................................8

         Section 2.2.      Form of Trustee's Certificate of Authentication................................8

         Section 2.3.      Form and Denomination of Debt Securities.......................................9

         Section 2.4.      Execution of Debt Securities...................................................9

         Section 2.5.      Exchange and Registration of Transfer of Debt Securities.......................9

         Section 2.6.      Mutilated, Destroyed, Lost or Stolen Debt Securities..........................11

         Section 2.7.      Temporary Debt Securities.....................................................11

         Section 2.8.      Payment of Interest and Additional Interest...................................12

         Section 2.9.      Cancellation of Debt Securities Paid, etc.....................................13

         Section 2.10.     Computation of Interest.......................................................13

         Section 2.11.     Extension of Interest Payment Period..........................................13

         Section 2.12.     CUSIP Numbers.................................................................14



ARTICLE III. PARTICULAR COVENANTS OF THE COMPANY.........................................................14



         Section 3.1.      Payment of Principal, Premium and Interest; Agreed Treatment of the

                             Debt Securities.............................................................14

         Section 3.2.      Offices for Notices and Payments, etc.........................................15

         Section 3.3.      Appointments to Fill Vacancies in Trustee's Office............................15

         Section 3.4.      Provision as to Paying Agent..................................................15

         Section 3.5.      Certificate to Trustee........................................................16

         Section 3.6.      Additional Sums...............................................................16

         Section 3.7.      Compliance with Consolidation Provisions......................................17

         Section 3.8.      Limitation on Dividends.......................................................17

         Section 3.9.      Covenants as to the Trust.....................................................17



ARTICLE IV. SECURITYHOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE............................18



         Section 4.1.      Securityholders' Lists........................................................18

         Section 4.2.      Preservation and Disclosure of Lists..........................................18



ARTICLE V. REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS UPON AN EVENT OF DEFAULT..........................19



         Section 5.1.      Events of Default.............................................................19

         Section 5.2.      Payment of Debt Securities on Default; Suit Therefor..........................20

         Section 5.3.      Application of Moneys Collected by Trustee....................................22

         Section 5.4.      Proceedings by Securityholders................................................22

         Section 5.5.      Proceedings by Trustee........................................................23

         Section 5.6.      Remedies Cumulative and Continuing; Delay or Omission Not a Waiver............23





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         Section 5.7.      Direction of Proceedings and Waiver of Defaults by Majority of

                             Securityholders.............................................................23

         Section 5.8.      Notice of Defaults............................................................24

         Section 5.9.      Undertaking to Pay Costs......................................................24



ARTICLE VI. CONCERNING THE TRUSTEE.......................................................................24



         Section 6.1.      Duties and Responsibilities of Trustee........................................24

         Section 6.2.      Reliance on Documents, Opinions, etc..........................................25

         Section 6.3.      No Responsibility for Recitals, etc...........................................26

         Section 6.4.      Trustee,  Authenticating  Agent,  Paying Agents,  Transfer Agents

                             or Registrar May Own Debt Securities........................................26

         Section 6.5.      Moneys to be Held in Trust....................................................27

         Section 6.6.      Compensation and Expenses of Trustee..........................................27

         Section 6.7.      Officers' Certificate as Evidence.............................................27

         Section 6.8.      Eligibility of Trustee........................................................28

         Section 6.9.      Resignation or Removal of Trustee.............................................28

         Section 6.10.     Acceptance by Successor Trustee...............................................29

         Section 6.11.     Succession by Merger, etc.....................................................30

         Section 6.12.     Authenticating Agents.........................................................30



ARTICLE VII. CONCERNING THE SECURITYHOLDERS..............................................................31



         Section 7.1.      Action by Securityholders.....................................................31

         Section 7.2.      Proof of Execution by Securityholders.........................................32

         Section 7.3.      Who Are Deemed Absolute Owners................................................32

         Section 7.4.      Debt Securities Owned by Company Deemed Not Outstanding.......................32

         Section 7.5.      Revocation of Consents; Future Holders Bound..................................32



ARTICLE VIII. SECURITYHOLDERS' MEETINGS..................................................................33



         Section 8.1.      Purposes of Meetings..........................................................33

         Section 8.2.      Call of Meetings by Trustee...................................................33

         Section 8.3.      Call of Meetings by Company or Securityholders................................33

         Section 8.4.      Qualifications for Voting.....................................................33

         Section 8.5.      Regulations...................................................................33

         Section 8.6.      Voting........................................................................34

         Section 8.7.      Quorum; Actions...............................................................34



ARTICLE IX. SUPPLEMENTAL INDENTURES......................................................................35



         Section 9.1.      Supplemental Indentures without Consent of Securityholders....................35

         Section 9.2.      Supplemental Indentures with Consent of Securityholders.......................36

         Section 9.3.      Effect of Supplemental Indentures.............................................37

         Section 9.4.      Notation on Debt Securities...................................................37

         Section 9.5.      Evidence of Compliance of Supplemental Indenture to be Furnished to

                           Trustee.......................................................................37



ARTICLE X. REDEMPTION OF SECURITIES......................................................................37



         Section 10.1.     Optional Redemption...........................................................37

         Section 10.2.     Special Event Redemption......................................................38

         Section 10.3.     Notice of Redemption; Selection of Debt Securities............................38





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         Section 10.4.     Payment of Debt Securities Called for Redemption..............................39



ARTICLE XI. CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE............................................39



         Section 11.1.     Company May Consolidate, etc., on Certain Terms...............................39

         Section 11.2.     Successor Entity to be Substituted............................................39

         Section 11.3.     Opinion of Counsel to be Given to Trustee.....................................40



ARTICLE XII. SATISFACTION AND DISCHARGE OF INDENTURE.....................................................40



         Section 12.1.     Discharge of Indenture........................................................40

         Section 12.2.     Deposited Moneys to be Held in Trust by Trustee...............................41

         Section 12.3.     Paying Agent to Repay Moneys Held.............................................41

         Section 12.4.     Return of Unclaimed Moneys....................................................41



ARTICLE XIII. IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS............................41



         Section 13.1.     Indenture and Debt Securities Solely Corporate Obligations....................41



ARTICLE XIV. MISCELLANEOUS PROVISIONS....................................................................41



         Section 14.1.     Successors....................................................................41

         Section 14.2.     Official Acts by Successor Entity.............................................41

         Section 14.3.     Surrender of Company Powers...................................................42

         Section 14.4.     Addresses for Notices, etc....................................................42

         Section 14.5.     Governing Law.................................................................42

         Section 14.6.     Evidence of Compliance with Conditions Precedent..............................42

         Section 14.7.     Non-Business Days.............................................................42

         Section 14.8.     Table of Contents, Headings, etc..............................................43

         Section 14.9.     Execution in Counterparts.....................................................43

         Section 14.10.    Separability..................................................................43

         Section 14.11.    Assignment....................................................................43

         Section 14.12.    Acknowledgment of Rights......................................................43



ARTICLE XV. SUBORDINATION OF DEBT SECURITIES.............................................................43



         Section 15.1.     Agreement to Subordinate......................................................43

         Section 15.2.     Default on Senior Indebtedness................................................44

         Section 15.3.     Liquidation, Dissolution, Bankruptcy..........................................44

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