We study dynamically generated resonances that arise as a result of low energy meson-baryon interaction in a chirally motivated coupled channel model. Our approach is based on a solution of the Lippman-Schwinger equation for the coupled meson-baryon channels πΛ, πΣ,KN, ηΛ, ηΣ, and KΞ with an interaction kernel taken in a separable form. The resonances are searched for as poles of the T-matrix on unphysical Riemann sheets in the complex energy plane. We examine s-wave resonances with strangeness S = −1 with accent on isoscalar resonances Λ(1405) and Λ(1670). Additional insights are obtained by investigating movement of the poles to the zero coupling limit and to the SU(3) symmetry restoraton limit.