First Eagle Bank
First Eagle Bank is a privately held, CDFI-certified community bank serving consumers, small businesses, and real estate developers across the Chicago metropolitan area through two branches and digital banking channels, with $630 million in assets and a 35-year operating history.
- Company typePrivate
- Founded1991
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What First Eagle Bank does
First Eagle Bank is a privately held, CDFI-certified community bank founded in 1991 (tracing its charter to 1985) and headquartered in Hanover Park, Illinois, with a second branch in Chicago's West Loop. It operates a relationship-driven banking model serving consumers, small businesses, real estate developers, entrepreneurs, and nonprofit community development organizations across the Chicago metropolitan area. The bank is an affiliate of First Eagle Bancshares, Inc. and has been controlled by the Salk family since its 1991 recapitalization; current leadership under President and CEO Andy Salk includes several executives with multi-decade tenure dating to the founding.
The bank delivers a full-service personal and commercial banking platform including personal checking, savings, personal loans, and safe deposit boxes on the consumer side, and commercial lending (commercial real estate, construction, SBA, C&I), equipment leasing, and treasury management on the business side. Distribution is delivered through two physical branches, a retail and eCorp mobile banking application on iOS and Android, an online banking platform with Zelle P2P payments, and surcharge-free ATMs across the MoneyPass and STAR networks. Underlying technology is a traditional community-banking core platform rather than a proprietary technology stack.
First Eagle Bank generates revenue primarily through interest income on its loan portfolio (commercial, real estate, construction, SBA, and consumer loans) supplemented by deposit-account fees, treasury management service charges, and equipment leasing income. The bank monetizes its CDFI certification and six-consecutive Outstanding CRA ratings into specialized community development lending programs, affordable housing financing, and small-business loans to underserved and minority developers. As of early 2026 the bank reports approximately $630 million in total assets, over $130 million in capital, and a 21.46% leverage ratio, positioning it among the most well-capitalized institutions in the Chicago market.
First Eagle Bank firmographics
Firmographics- Name
- First Eagle Bank
- Legal name
- First Eagle Bank
- Website
- https://febank.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Eagle Bank is a privately held, CDFI-certified community bank serving consumers, small businesses, and real estate developers across the Chicago metropolitan area through two branches and digital banking channels, with $630 million in assets and a 35-year operating history.
- Ownership category
- akta.pro rank
First Eagle Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021), Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
Keywords
Where First Eagle Bank is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
First Eagle Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income from Lending: Traditional bank revenue from interest earned on commercial loans, real estate loans, construction loans, SBA financing, and consumer loans
- Banking Fees and Service Charges: Revenue from deposit accounts, treasury management services, and other banking service fees
- Equipment Leasing: Commercial equipment leasing services for business clients
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | FDIC-insured deposit accounts |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels8 records
First Eagle Bank product offering
Product offeringCore offering
First Eagle Bank is a CDFI-certified community bank providing FDIC-insured personal and commercial banking products, including deposit accounts, consumer and commercial loans, equipment leasing, treasury management, and community development financing. Services are delivered through two branch locations in the Chicago metropolitan area, mobile and online banking platforms, and dedicated relationship bankers serving small businesses, real estate developers, entrepreneurs, and consumers.
Product overview
First Eagle Bank is a community bank offering a comprehensive suite of personal and commercial banking products and services. The bank operates on a platform model with two primary customer-facing segments: Personal Banking (checking, savings, personal loans, safe deposit boxes) and Business Banking (commercial lending, leasing, treasury management). Both segments have access to digital channels including mobile banking apps (iOS/Android) and eCorp online banking platform. The bank differentiates itself as a CDFI-certified institution focused on community development, offering specialized lending programs for underserved communities, minority developers, and affordable housing. Additional services include Zelle P2P payments, ATM networks, switch kit for account migration, and financial literacy resources.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking
- Saving and Investing
- Personal Loans
- Safe Deposit Boxes
- Commercial Lending
- Leasing
- Treasury Management
- Mobile Banking App
- eCorp Online Banking
- Community Development Loans
Quantifiable outcome
- $8.2 million in Community Development Investments over 5 years
- +3 more outcomes
Companies that use First Eagle Bank
Customer profileNamed customers15 records
Segments4 records
Ideal customer profiles4 records
First Eagle Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
First Eagle Bank partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered supporting and core.
- ScaleLink (fka EBA Fund)supportingNonprofit supporting CDFIs financing businesses in LMI areas. In 2021, FEB purchased three loan participations benefiting minority/women-owned entrepreneurs and provided over $13,000 in grants. In 2023, purchased four more participations with $8,800 grant.
- Allies for Community Business (A4CB)coreChicago's largest small business micro lender providing capital, coaching and business services to underserved entrepreneurs. FEB provides grants, refers clients, and has an EQ2 investment. CEO Brad McConnell serves on FEB's CDFI Advisory Board.
- Community Investment Corporation (CIC)coreChicago's largest nonprofit mortgage lender for affordable rental housing. FEB has invested $3.0 million in CIC loan pools since 1993. President Andy Salk serves on CIC's Board of Directors.
- DuPage Habitat for HumanitycoreNonprofit providing affordable housing in partnership with families. FEB financed 4.2 acres of land for 27 townhomes, provided letter of credit for infrastructure, and has provided 7 mortgages to program families. EVP/CFO Patrick Kaveney serves on Board.
- Deborah's PlacesupportingLargest homeless shelter for single women in Chicago. Rose Wageman served on Board for 6 years and currently serves on Emeritus Board and Finance/Audit Committee.
- Bridge CommunitiessupportingProvides transitional housing and mentoring to homeless families in DuPage County. FEB provides credit builder loans. Rose Wageman served on Donor Committee and Property/Grounds Committee.
- Chicago Community Loan Fund (CCLF)supportingCDFI providing flexible financing for community development in low-moderate income neighborhoods. FEB has provided subordinated below-market debt and has an EQ2 investment. Bob Tucker serves on FEB's CDFI Advisory Board.
- Neighborhood Housing Services of Chicago (NHS)supportingChicago's largest neighborhood revitalization organization. FEB participates in NHS loan pools. Andy Salk serves on Board of Trustees and Faruk Daudbasic serves on Board of Neighborhood Lending Services.
- Revolution WorkshopsupportingNonprofit providing construction workforce development in underserved communities. FEB partnered to create RWheels Program providing below-market auto loans to program graduates, and provides financial literacy classes.
- Facing Forward to End HomelessnesssupportingNonprofit ending homelessness through permanent housing and social services. FEB supported with grants. Doug Bradshaw serves on FEB's CDFI Advisory Board. Faruk Daudbasic served on their Board.
- Garfield Park Community Council (GPCC)supportingCommunity development organization in Chicago's West Side. Mike Tomas, GPCC Executive Director, serves on FEB's CDFI Advisory Board.
- SomercorsupportingSBA-authorized nonprofit small business lending organization. Manny Flores, President/CEO, serves on FEB's CDFI Advisory Board.
- Jewish Council on Urban Affairs (JCUA)supportingPursues social and economic justice through affordable housing and economic development. FEB sponsored their application for Community First Capacity Building Grant.
- Greenwood Archer Capital (GAC)supportingNonprofit CDFI focusing on LMI neighborhoods. Brad Mayer serves on the Micro Finance Loan Committee.
- Cara CollectivesupportingHelps people affected by poverty get and keep quality jobs. Rich Heathfield provides career coaching and mock interviews.
- ScaleLIT (fka Chicago Citywide Literacy Coalition)supportingAdult education nonprofit. Gerardo Gallo sits on Board of Directors. FEB sponsors annual Beyond Books event.
Scale indicators8 records
Recent moves6 records
Expansion highlights4 records
First Eagle Bank competitors and assessment
Company assessmentDirect peers
- Byline Bancorp: Byline Bancorp is a Chicago-based community bank holding company with branch locations across the metro, offering commercial and consumer banking products. It competes with First Eagle for the same small-business, CRE lending, and community-banking relationships in the Chicago market.
- Inland Bancorp / Inland Bank: Inland Bank is a Chicago suburb-based community bank offering deposit, lending, and treasury management products to consumers and small businesses. Highly comparable in size, geography, and product mix to First Eagle Bank.
- Self-Help Federal Credit Union: Self-Help Federal Credit Union is one of the few CDFI-certified depository institutions serving the Chicago metro region, with a focus on affordable housing and community development lending. Operates in the same CDFI deposit/lending niche as First Eagle Bank.
- City First Bank of DC: City First Bank is a CDFI-certified commercial bank that lends to affordable housing developers, nonprofits, and small businesses in underserved markets. Directly comparable to First Eagle in CDFI mission, product mix (CRE, community development, small business), and regulatory positioning.
- Carver State Bank: Carver State Bank is a CDFI-certified community bank focused on serving low- and moderate-income communities with deposits, consumer, and small-business lending. Comparable CDFI positioning, mission, and product set to First Eagle, though headquartered in Savannah, GA.
- National Cooperative Bank: National Cooperative Bank is a CDFI bank serving cooperatives, nonprofits, and affordable housing developers with deposit and lending products. Comparable mission, CDFI certification status, and core product mix (CRE lending, community development, small business) to First Eagle Bank.
Broad incumbents
- Wintrust Financial Corporation: Wintrust is a large Chicago-area community-oriented banking franchise with multiple specialty and community bank charters. While much larger than First Eagle, it competes directly in the same Chicago metro for niche commercial lending, CRE, and relationship-based small-business banking.
- Amalgamated Bank: Amalgamated Bank is a much larger socially responsible, union-owned B Corp-certified commercial bank with a strong community development and ESG focus. Operates a similar mission-driven banking model with CDFI-adjacent positioning, though at significantly greater scale and broader geography.
Regional players
- Liberty Bank for Savings: Liberty Bank for Savings is an Illinois-chartered community bank serving the Chicago metro with consumer and business banking products. Comparable in scale and community-bank focus to First Eagle, though operating under a different charter and geographic footprint.
- First Bank of Oak Park: First Bank of Oak Park is a community bank in the western Chicago suburbs offering personal and commercial banking products. Operates in an overlapping Chicago suburban market with First Eagle Bank and competes for similar small-business and consumer relationships.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
First Eagle Bank social profiles
Digital presenceFirst Eagle Bank compliance and trust
Trust signalCompliance4 records
First Eagle Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Eagle Bank leadership team
Management profileNumber of profiles
Profiles17 records
First Eagle Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Eagle Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Eagle Bank
What does First Eagle Bank do?
First Eagle Bank is a CDFI-certified community bank providing FDIC-insured personal and commercial banking products, including deposit accounts, consumer and commercial loans, equipment leasing, treasury management, and community development financing. Services are delivered through two branch locations in the Chicago metropolitan area, mobile and online banking platforms, and dedicated relationship bankers serving small businesses, real estate developers, entrepreneurs, and consumers.
Is First Eagle Bank a public or private company?
First Eagle Bank is a private company. It is classified as family owned and is currently operating.
When was First Eagle Bank founded?
First Eagle Bank was founded in 1991. It employs 11 to 50 people.
Where is First Eagle Bank based?
First Eagle Bank is headquartered in Chicago, United States, in the North America region.
How does First Eagle Bank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are banking Fees and Service Charges and equipment Leasing.
Who are First Eagle Bank's main competitors?
Direct peers on record are Byline Bancorp, Inland Bancorp / Inland Bank, Self-Help Federal Credit Union, City First Bank of DC, Carver State Bank and National Cooperative Bank. Broad incumbents are Wintrust Financial Corporation and Amalgamated Bank. Regional players are Liberty Bank for Savings and First Bank of Oak Park.
Does First Eagle Bank have an API?
No public API is recorded for First Eagle Bank.
What industry is First Eagle Bank in?
First Eagle Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6021.