Lake Forest Bank & Trust

What Lake Forest Bank & Trust does

Lake Forest Bank & Trust Company, N.A. is a National Association-chartered community bank headquartered in Lake Forest, Illinois, operating as a wholly-owned subsidiary of Wintrust Financial Corporation (NASDAQ: WTFC). Established in 1991, it is one of 16 community bank charters within the Wintrust network, which collectively manages $74 billion in assets across more than 200 branch locations in Illinois, Wisconsin, Michigan, Indiana, and Florida. The bank serves three core customer segments: personal banking consumers, small businesses, and middle-market commercial clients, with a fourth wealth management layer for higher-net-worth households. Branch locations span northern Chicago suburbs (Lake Forest, Highland Park, Lake Bluff, Waukegan, Highwood, Rosemont) and three Southwest Florida sites (Naples, Cape Coral, Bonita Springs).

The product set spans deposit accounts (Total Access, Access Plus, Premier, and Money Smart Checking tiers; Statement Savings Advanced; 13-Month CD; MaxSafe CD/Money Market), consumer lending (HELOC, mortgages via Wintrust Mortgage, Everyday Loan, credit-building CD loan), credit cards issued through Elan Financial Services under a Visa license, and small business and commercial products including SBA Express/7(a)/504 loans up to $10M, asset-based lending, cash management (i-BusinessBanking, i-BusinessCapturePro remote deposit capture), and Positive Pay fraud tools. The proprietary MaxSafe program, which spreads deposits across 16 charters to raise FDIC coverage from $250,000 to $4 million per accountholder, is the most differentiated structural feature. Digital channels include a Wintrust-branded mobile app with Zelle integration, mobile deposit, and Financial Insights, alongside appointment-based relationship banking at branches.

Revenue mechanics combine traditional net interest income from mortgages, HELOCs, commercial, SBA, and consumer loans with transaction-based fees (deposit account maintenance, wire transfers, overdraft, ATM) and credit card interchange via the Elan partnership. GTM is relationship-driven: designated business and commercial bankers serve small and middle-market customers directly, while personal banking is distributed through branches, digital, and community events. Pricing is tiered with monthly maintenance fees waived at minimum balance thresholds ($2,500-$10,000) and promotional rates used to attract deposits during the current rate cycle.

Name

Lake Forest Bank & Trust

Legal name

Lake Forest Bank & Trust Company, N.A.

Website

https://lakeforestbank.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Lake Forest Bank & Trust is a National Association-chartered community bank and Wintrust subsidiary serving personal, small business, and middle-market commercial customers across Illinois and Florida through branches, digital banking, and the differentiated MaxSafe FDIC coverage program.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking services
• Retail banking products
• Small business lending
• SBA loans
• Commercial lending

Headquarters

HQ city

Lake Forest

HQ country

United States

HQ region

North America

Offices10 records

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. Interest Income from Lending: Traditional banking revenue from interest on mortgages, commercial loans, HELOCs, SBA loans, and consumer loans. Residential lending provided through Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A.
2. Deposit Account Fees: Monthly maintenance fees on checking and savings accounts (often waived with minimum balances), ATM fees, wire transfer fees, overdraft fees, and account service charges
3. Credit Card Interchange: Credit card revenue through partnership with Elan Financial Services. Cards issued under Visa license.
4. Business Banking Services: Fees from business checking, cash management services, merchant processing, and treasury management services

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Lake Forest Bank & Trust is a community bank that provides deposit accounts (checking, savings, CDs, money market), consumer and commercial lending products (HELOCs, mortgages, SBA loans, business lines of credit, credit cards), and digital banking services (online/mobile banking with Zelle, i-BusinessBanking, i-BusinessCapturePro remote deposit) for personal, small business, and commercial customers across Illinois, Wisconsin, Michigan, Indiana, and Florida. The bank is operated through 200+ branch locations and differentiated by its MaxSafe program, which expands FDIC insurance coverage up to $4 million per accountholder by leveraging multiple Wintrust community bank charters.

Product overview

Lake Forest Bank & Trust is a community bank and part of the Wintrust Financial Corporation family, offering a comprehensive range of banking products and services through multiple channels. The bank's offerings span personal banking (checking, savings, credit cards, mortgages, home equity), small business banking (checking, savings, SBA loans, cash management), and commercial banking (asset-based lending, treasury management). Key digital services include i-BusinessBanking online/mobile platforms, i-BusinessCapturePro for remote deposits, and Early Pay for early direct deposit. The bank differentiates through community-focused loyalty programs (Junior Savers Club for youth, Platinum Adventures Club for 50+ customers) and specialized deposit insurance products (MaxSafe up to $4M FDIC coverage). Mortgages are delivered through Wintrust Mortgage, a division of Barrington Bank & Trust, while credit cards are issued through Elan Financial Services. The bank operates over 200 locations across the greater Chicago, southern Wisconsin, west Michigan, northwestern Indiana, and southwest Florida markets.

Differentiator

Problem solved

Functional benefit

Brands

• Platinum Adventures Club: A social and travel club for customers 50+ years of age offering adventure experiences, seminars, activities, and trips.
• Junior Savers Club
• MaxSafe

Products and services

• Total Access Checking Basic everyday banking checking account with early direct deposit access up to 2 business days early and free ATMs nationwide through Allpoint, MoneyPass, and SUM networks. $100 to open with no minimum monthly balance and no monthly maintenance fees.
• Access Plus Checking Enhanced personal checking account with variable interest, waived safe deposit box fees, free checks, reimbursed wire transfers, and waived fees for money orders and cashier's checks. Waivable $10 monthly fee with $2,500 average daily balance or $25,000 combined relationship balance.
• Premier Checking Premium tier personal checking with tiered variable interest, 0.15% rate bonus on Statement Savings Advanced, waived safe deposit boxes, and up to 5 domestic wire transfer reimbursements. Waivable $25 monthly fee with $10,000 average daily balance or $75,000 combined relationship balance.
• Statement Savings Advanced Interest-bearing savings account offering 2.00% APY promotional rate with qualifying activities. Variable rate, no minimum to open, $200 daily balance to avoid $5 monthly maintenance fee; new money only.
• 13-Month CD Special Certificate of Deposit with 4.00% APY promotional rate, $1,000 minimum to open, automatically renews at standard rate upon maturity.
• Home Equity Line of Credit (HELOC) Variable-rate revolving credit line secured by home equity with competitive tiered rates starting at 6.75% APR for $500,000+ (7.50% APR for $10,000-$99,999), 10-year draw period, fixed-rate conversion options, and $75 annual fee waived the first year.
• Money Smart Checking Entry-level credit-building checking account for consumers establishing or rebuilding credit history. $10 to open, no minimum balance or monthly maintenance fees, optional Dollar-A-Day savings automatic transfer, no overdraft fees, and up to 6 free out-of-network ATM reimbursements per statement cycle.
• Money Smart Savings Interest-bearing savings account paired with Money Smart Checking for credit-building customers, with up to 6 free out-of-network ATM reimbursements per calendar month when linked to debit card.
• Everyday Loan Fixed-rate credit-building loan up to $5,000 with quick approval, available in 12 or 24-month terms. Current APR is 11.75% (Prime + 5.00% as of 12/15/25).
• Money Smart CD Loan Credit-building loan where borrowed funds are placed into a CD; borrower makes fixed monthly payments and receives the CD with earned interest upon payoff.
• Personal Credit Cards Personal credit cards issued through Elan Financial Services pursuant to a Visa U.S.A. license, with multiple card options including rewards and cash back. Features include zero fraud liability, mobile purchasing, and 24/7 cardmember service.
• Wintrust Mortgage Residential mortgage lending solutions delivered through Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A. (NMLS #449042), offering purchase, refinance, and equity funding with relationship pricing for existing Wintrust customers.
• Entrepreneur Checking Small business checking account aimed at startups with no minimum balance, no monthly maintenance fees, 150 free monthly transactions, and free i-BusinessBanking with mobile deposit.
• Business Community Checking Established small business checking account with maintenance fee waived at $2,500 minimum balance, 250 free monthly transactions, and unlimited i-BusinessBanking users.
• Have-It-All Business Checking Premium small business checking account for larger enterprises with $20,000 minimum balance requirement and 400 free monthly transactions.
• Small Business Credit Cards Business credit cards with options for low rate, cash back, or flexible rewards, featuring free online expense reporting and no fee for additional employee cards.
• SBA Express Loan SBA Express loan up to $500,000 for business expansions, acquisitions, cash flow management, with expedited turnaround and revolving lines of credit available.
• SBA 7(a) Loan SBA-backed loan up to $5 million for business expansion, company acquisition, or cash flow improvement via debt refinance. Packaging fee of $2,500 applies.
• SBA 504 Loan SBA-backed loan up to $10 million for acquisition or refinance of equipment and owner-occupied real estate with down payments as low as 10%.
• Easy Access Lines of Credit Revolving credit lines and term loans for small business cash flow, inventory, equipment purchases, and unexpected expenses.
• Asset Based Lending Revolving lines of credit on accounts receivable for middle-market companies, with creative and competitive financing solutions provided through Wintrust's commercial banking arm.
• MaxSafe FDIC insurance enhancement program that increases coverage from $250,000 to $4 million per accountholder by spreading deposits across 16 Wintrust community bank charters. Available as MaxSafe CD or MaxSafe Money Market with $1,000 minimum to open, no minimum monthly balance or service fee.
• i-BusinessBanking Online business banking platform with mobile access and mobile remote deposit capture, available in single or multi-user profiles depending on account tier. Complements Positive Pay fraud prevention and Trusteer malware protection.
• i-BusinessCapturePro Remote deposit capture solution for businesses to scan and deposit checks on-site without visiting a branch.

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• TrusteercoreTechnology or IntegrationPartnership providing free Trusteer fraud protection software to protect business customers against malware infections and phishing attacks as part of cash management security offerings.
• Elan Financial ServicescoreTechnology or IntegrationCredit card partnership where Elan Financial Services is the creditor and issuer of Visa credit cards offered through Lake Forest Bank & Trust. Provides credit card processing and cardholder services.
• FDICcoreOthersFederal Deposit Insurance Corporation provides standard FDIC insurance up to $250,000 per depositor. Lake Forest Bank participates in the MaxSafe program to extend coverage up to $4 million through multiple charters.
• U.S. Small Business Administration (SBA)coreOthersSBA lending partner offering SBA Express Loans (up to $500,000), SBA 7(a) Loans (up to $5 million), and SBA 504 Loans (up to $10 million) for small business financing.
• Wintrust Mortgage (Barrington Bank & Trust Company, N.A.)coreStrategic or Co-development PartnerWintrust Mortgage, a division of Barrington Bank & Trust Company, N.A., provides residential mortgage lending services to Lake Forest Bank & Trust customers. NMLS #449042.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Associated Bank (Associated Banc-Corp): Midwest regional community bank serving Illinois, Wisconsin, and Indiana with similar consumer, small business, and commercial products; comparable footprint to Lake Forest across the Wintrust operating states.
• Old National Bank: Midwest-focused community bank (formed via First Midwest merger) serving commercial, small business, and consumer customers across Illinois, Indiana, Michigan, and Wisconsin — the same geographies where Lake Forest and Wintrust operate.
• Byline Bancorp: Chicago-headquartered community bank holding company with similar small business, SBA lending, and commercial banking focus; competes directly in the Chicago metro and offers comparable products like commercial checking, treasury management, and SBA loans.
• Barrington Bank & Trust Company, N.A. Sister Wintrust community bank charter providing identical product suites and overlapping suburban Chicago territory; serves as the direct parent division for Wintrust Mortgage origination, making it the most directly comparable operating peer.
• Libertyville Bank & Trust: Another Wintrust community bank charter operating in adjacent Lake County suburbs with the same deposit, lending, and MaxSafe products; comparable size, customer profile, and operational footprint as Lake Forest Bank & Trust.

Broad incumbents

• Northern Trust: Chicago-headquartered wealth management and private banking giant that overlaps with Lake Forest's Platinum Adventures and HNW private banking offerings, particularly on the affluent North Shore clientele; a broad incumbent rather than a direct retail competitor.
• BMO Harris Bank: Major regional bank with deep Chicago-area retail and commercial banking presence; offers broader product portfolio but competes directly with Lake Forest on consumer deposits, mortgages, and small business lending in the same metropolitan footprint.
• JPMorgan Chase (Chase Bank): National megabank with extensive Chicago retail and small business banking presence; competes with Lake Forest on consumer checking, savings, HELOCs, and small business banking products, with a substantially broader branch and digital footprint.

Emerging players

• Customers Bank: Mid-size commercial and community bank known for high-yield deposit products (savings, CDs) that compete with Wintrust's Statement Savings Advanced and 13-Month CD Special offerings, particularly in digital deposit acquisition channels.

Regional players

• First Bank of Highland Park: Independently-owned community bank on Lake Forest's immediate North Shore turf; directly competes for the same affluent retail and small business customers with a similar community banking value proposition, though smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/LakeForestBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles28 records

Subsidiaries1 record

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 Lake Forest Bank & Trust