What Merchants and Manufacturers Bank does

Merchants and Manufacturers Bank is a community bank founded in 1969 and headquartered in Joliet, Illinois, that serves personal, small-to-mid-sized business, mortgage, wealth, and agricultural banking customers. The bank operates within the broader Busey Bank franchise and markets its full-service offerings under the Busey brand, spanning checking and savings accounts, consumer and commercial loans, SBA lending, mortgage financing, wealth management, and specialized agricultural lending (farm loans and farm management). Its distribution model combines a regional physical branch network — including lobby and drive-through service — with a multi-channel digital stack comprising the Busey Mobile Banking App (iOS and Android), the Busey Digital Banking web platform, and a dedicated Commercial Digital Banking platform supporting cash management, eLockbox receivables processing, and Integrated Payables.

The bank's underlying technology infrastructure relies on standard digital banking delivery rather than proprietary core systems: consumer credit cards are issued through a partnership with Elan Financial Services; investment and brokerage services are delivered via a partnership with Raymond James; and wealth management reporting runs on third-party platforms including FIS Wealth Management Weblink and Black Diamond. Busey Mobile Banking is published on both the App Store and Google Play, and Busey Digital Banking serves as the primary online access point for consumer and business customers. A 2024 next-generation digital banking platform refresh is the most notable recent product investment.

Merchants and Manufacturers Bank generates revenue through traditional community-bank mechanics: net interest margin on deposits and the loan portfolio (consumer, commercial, SBA, mortgage, agricultural), fee income from treasury and cash management services, wealth management advisory fees, and interchange and card-related revenue. Pricing is opaque for commercial and treasury services (quote-based) while retail deposit rates are publicly disclosed, with a current Premium Savings promotional rate of 3.25% APY on balances of $100,000 and over. Customer segments are diversified horizontally — retail, SMB, high-net-worth, mortgage, and agricultural — with no disclosed concentration metrics and no published revenue, asset, or loan-portfolio figures in the source data.

Name

Merchants and Manufacturers Bank

Legal name

Busey Bank

Website

https://m-mbank.com

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

51–100 employees

Short description

Merchants and Manufacturers Bank is a community bank founded in 1969 in Joliet, Illinois, operating within the Busey Bank franchise and providing personal, business, mortgage, wealth, and agricultural banking services across the Midwest via branch and digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Joliet

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain, Others

Distribution channels4 records

Marketing channels4 records

Core offering

Merchants and Manufacturers Bank is a community-oriented regional bank that provides personal deposit accounts (checking, savings, CDs), consumer loans, credit cards, business banking (checking, treasury management, commercial lending, SBA loans), residential mortgages, wealth management and investment advisory services, and specialized agricultural lending and farm management. Customers access these products through physical branches, a mobile banking app, online digital banking, and a Commercial Digital Banking platform with cash management tools such as eLockbox and Integrated Payables.

Product overview

Busey Bank offers a unified banking platform with multiple integrated service lines including Personal Banking, Business Banking, Wealth Management, Mortgage, and Ag Services. The core digital banking platform provides online and mobile access to accounts, while specialized products include SBA lending, farm management, corporate cards, and investment services through partnerships. The bank operates as a traditional community bank with digital-first delivery channels.

Differentiator

Problem solved

Functional benefit

Brands

• Busey Digital Banking: Digital/mobile banking platform for retail and business customers.
• Busey Wealth Management
• Busey Mortgage
• Busey Corporate Card
• Commercial Digital Banking
• Integrated Payables

Products and services

• Busey Digital Banking Online and mobile banking platform providing account access, fund transfers, bill pay, and account management for consumer and business customers.
• Mobile Banking Mobile banking application enabling access to accounts anytime, anywhere from smartphone and tablet devices on iOS and Android.
• Busey Wealth Management Comprehensive wealth management services including investment management, financial planning, and trusted advisory services for high-net-worth clients.
• Busey Mortgage Financing
• Business Banking
• SBA Lending
• Consumer Loans
• Premium Savings
• Busey Bank Bridge Checking
• Farm Management
• Busey Corporate Card
• Busey Credit Cards
• Commercial Digital Banking
• eLockbox
• Integrated Payables
• Investment Services
• Wealth Management Weblink
• Wealth Management Black Diamond

Quantifiable outcome

• 3.25% APY offered on Premium Savings accounts for balances $100,000 and over

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Inland Bank and Trust: Illinois-chartered community bank serving small and mid-size businesses and consumers in the Chicago metro — comparable in geography and SMB focus, though smaller scale.
• Hinsdale Bank & Trust: Illinois community bank offering personal, business, and wealth services — comparable regional Midwest community bank with overlapping SMB and consumer focus.
• West Suburban Bank: Community bank headquartered in Illinois serving consumer and business customers — comparable regional Midwest community bank with similar product scope.
• North Shore Trust and Savings: Illinois-based community bank focused on personal and business banking in the Chicago suburbs — comparable as a regional Midwest community bank, though with smaller service breadth.

Direct peers

• First Busey Corporation: The publicly traded parent company of Busey Bank. Given that nearly all product, app, and brand data in the input maps to Busey Bank, this is the closest peer — a Midwest regional bank offering Personal, Business, Wealth, Mortgage, and Ag services.
• Old National Bancorp: Large Midwest-focused community bank with personal, business, mortgage, and wealth management lines and a meaningful ag-banking franchise — directly comparable in product mix and regional footprint to a Midwest community bank.
• Wintrust Financial Corporation: Chicago-area based community banking holding company with a network of community-oriented charters plus wealth management and specialty lending (including mortgage). Comparable as a multi-charter Midwest regional with similar service breadth.
• Byline Bancorp: Chicago-based community bank focused on small and mid-size businesses with strong SBA lending capability — directly comparable given the subject bank's emphasis on SMB and SBA lending.
• First Mid Bancshares: Midwest community bank holding company serving Illinois and surrounding states with consumer, business, mortgage, and wealth services — direct comparable in geography and product mix.

Broad incumbents

• JPMorgan Chase (Community / Business Banking): National incumbent with a large community/business banking franchise competing head-on for SMB deposits and loans in the Midwest — illustrates the competitive ceiling on regional community banks.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/busey
• Facebookfacebook.com/pages/Busey/170837079633132
• LinkedInlinkedin.com/company/merchants-and-manufacturers-bank
• Instagraminstagram.com/buseybank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Merchants and Manufacturers Bank