Centrust Bank

What Centrust Bank does

Centrust Bank is a Chicago-area community bank founded in 2006 that serves small to mid-sized businesses and individual consumers across the Chicagoland region and broader Midwest. Following a 2025 acquisition by SmartBiz Loans, the bank now operates as a division of SmartBiz Bank, N.A. under the holding company SmartBiz Bancshares, Inc., combining its relationship-driven community banking model with SmartBiz's technology-powered SBA lending platform. The bank offers a full suite of personal banking products (CDs, money market accounts, personal checking, savings, consumer lending, credit cards, health savings accounts, online banking) and commercial banking solutions (SBA 7(a) Growth Loans of $350K-$1M, SBA commercial real estate loans, business checking with QuickBooks integration, treasury management, merchant services, Positive Pay fraud protection).

The bank's core differentiator is its SBA lending program, recognized with a #7 SBA lender ranking in Illinois (FY2018) and top SBA lender recognition in Wisconsin (FY2025). Key personnel include President and Chief Lending Officer Matt Tilton (joined September 2021 with 35+ years of community banking experience) and EVP of Community SBA Lending Thomas J. Meyer, who has funded over $600 million in SBA loans across his 25+ year career. The bank combines relationship banking with technology-enabled pre-qualification (2-3 business days) for SBA loans, and was an active PPP lender during the COVID-19 pandemic.

Revenue is generated through net interest income from SBA, commercial, commercial real estate, and consumer loans, plus non-interest income from SBA origination and guarantee fees, deposit account fees, treasury management services, and merchant services. The go-to-market is sales-led, relying on direct relationship managers and business development officers working face-to-face with clients, supplemented by online pre-qualification for SBA Growth Loans. The bank operates from a single headquarters branch at 385 Waukegan Road in Northbrook, Illinois, with FDIC-insured deposits.

Name

Centrust Bank

Legal name

Centrust Bank, a division of SmartBiz Bank, N.A.

Website

https://centrustbank.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Centrust Bank is a Chicago-area community bank, now operating as a division of SmartBiz Bank, N.A., that provides personal and commercial banking services with a focus on SBA lending to small and mid-sized businesses across the Midwest.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Short-Term Business Credit Institutions (6153), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industry

Treasury, Cash Management & Liquidity (SME) (FSAGAJAG)

Keywords

• Community banking
• SBA lending
• Commercial lending
• Personal banking
• Deposit products

Headquarters

HQ city

Northbrook

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income - Loans: Interest income from SBA loans, commercial loans, commercial real estate loans, and consumer lending products including equipment financing and lines of credit.
2. Deposit Account Fees: Monthly service fees on accounts such as Money Market (waived at $2,500 minimum balance) and potential fees for falling below minimum balances.
3. SBA Loan Fees: Fees associated with SBA 7(a) and SBA 504 loan programs including origination fees and guarantee fees.
4. Treasury Management Services: Cash management, merchant services for credit card processing, and other business banking services.
5. Certificate of Deposit Interest: Interest paid to depositors on CD accounts; spreads earned between loan rates and deposit rates.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Centrust Bank is a Chicago-area community bank operating as a division of SmartBiz Bank, N.A., delivering FDIC-insured personal deposit and consumer lending products (CDs, money market, checking, savings, credit cards, HSAs) alongside a commercial banking suite built around SBA 7(a) loans, SBA commercial real estate loans, business checking, treasury management, and merchant services for small to mid-sized businesses. Its SBA Growth Loan product provides $350,000–$1,000,000 in funding with pre-qualification in 2–3 business days through a tech-enabled platform integrated with SmartBiz.

Product overview

Centrust Bank is a Chicago-based community bank, operating as a division of SmartBiz Bank, N.A., offering a dual-track banking platform serving both personal consumers and small-to-medium-sized business clients. The personal banking suite covers deposit products (CDs, money market, checking, savings), consumer lending, credit cards, health savings accounts, online banking, and safe deposit boxes. The commercial banking platform is more comprehensive, including commercial financing, SBA 7(a) loans and SBA Growth Loans ($350K-$1M), SBA commercial real estate loans, business checking, treasury management, investment accounts, QuickBooks integration, and merchant services. The SBA lending program is a particular differentiator, with the bank recognized as a top SBA lender in Wisconsin and Illinois. Key products include the Visa Platinum Cash Rewards Card for both segments and the Positive Pay fraud prevention tool for business clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Certificate of Deposit (CD) Fixed-rate FDIC-insured savings certificates offered in multiple term lengths with competitive published APYs, designed for individual and IRA depositors seeking predictable returns.
• Platinum Money Market Account Interest-bearing money market deposit account with tiered pricing for personal savers, allowing limited monthly withdrawals and waiving fees above a minimum balance.
• Visa Platinum Cash Rewards Card Credit card with cash back rewards on every purchase, available to both consumer and business clients.
• SBA 7(a) Growth Loan Government-backed SBA 7(a) loan program for established small businesses, providing $350,000 to $1,000,000 in funding for real estate, debt consolidation, expansion, equipment, partner buyout, or working capital, with terms up to 25 years and pre-qualification in 2–3 business days.
• SBA Commercial Real Estate Loans SBA-backed long-term financing for purchasing or refinancing owner-occupied commercial real estate.
• Commercial Financing Conventional commercial loan products for small to mid-sized businesses supporting working capital, equipment purchases, and general business financing needs.
• Business Checking Business checking account programs designed for growing and established corporate businesses, integrated with QuickBooks Online for cash management.
• Treasury Management Cash management services for business clients covering liquidity management and fraud prevention, including Positive Pay check authorization.
• Investment Accounts Investment deposit products for individuals and businesses, including CDs with maturities from 30 days to 5 years and interest-bearing money market accounts with daily compounding.
• Personal Checking Personal checking account product for individual consumers, backed by FDIC insurance and supported by online banking and bill pay.
• Savings Account Personal savings account for individual consumers providing FDIC-insured deposit storage with online banking access.
• Consumer Lending Consumer lending products for individual borrowers, providing personal credit through the bank's relationship-based lending team.
• Health Savings Account (HSA) Tax-advantaged Health Savings Account for individuals, providing FDIC-insured medical savings.
• Safe Deposit Boxes Safe deposit box rental service available at the Northbrook branch for secure storage of valuables and important documents.
• Commercial Credit Cards Commercial credit card product for business customers, providing revolving credit for purchasing and operating expenses.
• Merchant Services Tools and services enabling business clients to accept credit cards, debit cards, and other forms of electronic payment.
• Positive Pay Fraud prevention service for business clients that detects suspicious transactions and protects against check fraud through check authorization controls.

Quantifiable outcome

• Pre-qualification for SBA loans in 2-3 business days
• +3 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• SmartBiz BankcoreTechnology or IntegrationSmartBiz Bank provides technology infrastructure and SBA lending platform that enables streamlined pre-qualification and application processes for Centrust Bank's SBA loans.
• SyntriominorOthersIndependent provider for confidential reporting channel for suspected fraud, unethical behavior, or regulatory violations. Syntrio receives reports and forwards them to SmartBiz Bank's designated team for review.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Live Oak Bank: Live Oak Bank is a digitally focused, FDIC-insured bank and one of the largest SBA lenders in the United States, with a heavy concentration in SBA 7(a) lending to small businesses — the same core product and customer segment Centrust targets.
• Celtic Bank: Celtic Bank is a top-10 SBA 7(a) lender in the U.S. and a community-oriented commercial bank, directly comparable to Centrust's positioning as a premier SBA specialist bank serving small and mid-sized businesses.
• Byline Bank: Byline Bank is a Chicago-based community bank with a national SBA lending focus — a near-perfect overlap with Centrust's geography (Chicagoland) and SBA-centric product strategy.
• Barrington Bank & Trust: Barrington Bank & Trust (a Wintrust community bank) is a Chicago suburban community bank serving small and mid-sized businesses and consumers — same Illinois geography, similar product suite, and overlapping SMB customer base.
• First Bank of Highland Park: First Bank of Highland Park is a North Shore Chicago suburb community bank serving small businesses and consumers, directly comparable to Centrust's Northbrook, IL community banking footprint and customer profile.

Broad incumbents

• Customers Bank: Customers Bank operates a broad commercial and digital banking franchise including a large SBA lending program through Customers Bank's small business subsidiary, comparable to Centrust's SBA-plus-community-banking model but at much larger scale.
• Wintrust Financial: Wintrust is a large Chicago-area community banking holding company with multiple charters serving small and mid-sized businesses, including SBA lending — comparable customer base and geography but at far greater scale and product breadth.
• Old National Bank: Old National Bank (formed via merger including First Midwest) is a Midwest-focused community bank serving small and mid-sized businesses across Illinois, Wisconsin, and surrounding states — overlapping geographic footprint and SMB customer base.

Emerging players

• Benworth Capital Partners: Benworth Capital is a nonbank SBA-focused lender specializing in SBA 7(a) loans for small business acquisitions and owner-occupied real estate — comparable SBA product offering but operating outside the bank charter model.

Others

• SmartBiz Loans: SmartBiz Loans is the fintech SBA lending platform that acquired Centrust in 2025 and now operates Centrust as a division of SmartBiz Bank. It is the parent and technology infrastructure partner rather than a competing peer, but operates the same SBA small business lending niche.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/centrust_bank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

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 Centrust Bank