What Town Bank does

Town Bank, N.A. is a privately held community bank founded in 1998 and operating as one of 16 community bank charters under Wintrust Financial Corporation (NASDAQ: WTFC), a diversified financial services holding company with approximately $71 billion in assets. Headquartered in Milwaukee and branded as "Wisconsin's Bank," Town Bank operates roughly 25 branches across southern Wisconsin and adjacent markets, serving individual consumers, small businesses, and middle-market commercial clients through four primary segments: Personal Banking (tiered checking, savings, credit cards, HELOCs, mortgages, credit-building products), Small Business Banking (Entrepreneur, Business Community, and Have-It-All checking tiers, SBA loans, cash management), Commercial Banking (asset-based lending, treasury management, industry-specific financing including franchise, agriculture, healthcare, and ESOP), and Wealth Management delivered through Wintrust Wealth Management.

The bank's core technology is the Wintrust Digital Banking platform, which powers consumer online and mobile banking plus i-BusinessBanking for commercial clients with i-BusinessCapturePro remote deposit, Positive Pay/Reverse Positive Pay and ACH Positive Pay fraud prevention, Trusteer malware protection, and Zelle P2P payments. Distribution combines physical branch presence (Town Bank plus the broader 200+ Wintrust network across Wisconsin, Illinois, Michigan, Indiana, and Florida), digital self-service, 24/7 telephone banking, and designated relationship managers for commercial and wealth clients. The bank differentiates through community-focused programs—Junior Savers Club and Teen Banking Club for under-22 customers, Platinum Adventures Club for customers aged 50+, MaxSafe FDIC coverage enhancement from $250,000 to $4 million across 16 charters—and free amenities such as coin counting and currency exchange.

Revenue is generated primarily through net interest income from the spread between loans (mortgages, HELOCs, commercial, SBA, credit cards, personal) and deposits (checking, savings, money market, CDs), supplemented by transaction-based fee income from account services, wire transfers, ATM fees, credit card interchange, treasury management, and mortgage origination through Wintrust Mortgage. Pricing follows a tiered subscription model with monthly maintenance fees waivable at defined balance or relationship thresholds (e.g., Premier Checking waives its $25 monthly fee at a $10,000 daily balance or $75,000 combined relationship balance). Wealth management contributes recurring asset-based revenue through Wintrust Wealth Management. Jay Mack has served as Town Bank's President & CEO since the bank's founding in 1998.

Name

Town Bank

Legal name

Town Bank, N.A.

Website

https://townbank.us

Company type

Private

Founded year

1998

Operating status

Operating

Short description

Town Bank, N.A. is a Wisconsin-based community bank and subsidiary of Wintrust Financial Corporation (NASDAQ: WTFC) serving individual consumers, small businesses, and middle-market commercial clients across the Midwest through approximately 25 branches and the Wintrust Digital Banking platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Milwaukee

HQ country

United States

HQ region

North America

Offices27 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Primary revenue stream from the spread between interest earned on loans (mortgages, commercial loans, HELOCs, credit cards, business loans) and interest paid on deposits (checking, savings, CDs, money market accounts)
2. Non-Interest Income: Fee-based revenue including account maintenance fees, overdraft fees, wire transfer fees, ATM fees, credit card interchange, safe deposit box rentals, treasury management services, and mortgage origination income
3. Mortgage Lending: Residential mortgage origination through Wintrust Mortgage division with relationship pricing program for existing customers
4. Wealth Management Services: Asset management, private client services, investment products, trust and estate services through Wintrust Wealth Management

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Town Bank operates as a community bank within the Wintrust Financial Corporation network, providing personal banking (checking, savings, credit cards, mortgages, HELOCs, credit-building loans), small business banking (checking, cash management, SBA loans), commercial banking (asset-based lending, treasury management, commercial real estate, leasing), and wealth management services (asset management, private banking, trust and estate services) across 200+ branch locations in Wisconsin, Illinois, Michigan, Indiana, and Florida.

Product overview

Town Bank, operating as a Wintrust Community Bank, offers a comprehensive community banking platform organized across four primary segments: Personal Banking (checking, savings, credit cards, mortgages, home equity, and credit building products), Small Business Banking (checking, savings, lending, SBA loans, and cash management tools), Commercial Banking (asset-based lending, treasury management, and industry-specific financing), and Wealth Management (private banking, investments, and trust services). The digital banking experience is delivered through Wintrust Digital Banking for consumers and i-BusinessBanking™ for business customers. The bank differentiates through community-focused services including Junior Savers Club®, Platinum Adventures® Club for seniors, MaxSafe FDIC coverage enhancement, and free amenities like coin counting and currency exchange. Products are distributed across 200+ physical locations throughout greater Chicago, southern Wisconsin, west Michigan, northwestern Indiana, and southwest Florida.

Differentiator

Problem solved

Functional benefit

Brands

• Junior Savers Club®: Youth savings program for children under age 22 featuring statement savings accounts, financial education events, giveaways, field trips, and Treat Dollars redeemable at local businesses
• Teen Banking Club®
• Platinum Adventures® Club
• Money Smart Checking®
• Money Smart Savings®
• MaxSafe
• Wintrust Mortgage
• Wintrust Private Client
• Total Access Checking
• Access Plus Checking
• Premier Checking

Products and services

• Total Access Checking Basic everyday checking account with early direct deposit (up to two business days early), $100 to open, no minimum monthly balance or maintenance fees, and free ATM access nationwide through Allpoint, MoneyPass, and SUM networks. Designed for individual consumers.
• Access Plus Checking Interest-bearing checking account with monthly variable interest, waived safe deposit box fee, free first order of specialty checks, and reimbursements for one outgoing domestic wire transfer and incoming wire fees per month. $10 monthly maintenance fee waived with $2,500 average daily balance or $25,000 combined relationship balance.
• Premier Checking Premium checking account with tiered variable interest rates, 0.15% rate bonus on Statement Savings Advanced, waived fees on 3x10 safe deposit boxes and check printing, up to 5 outgoing domestic wire transfer reimbursements monthly, and waived stop payment fees. $25 monthly maintenance fee waived with $10,000 average daily balance or $75,000 combined relationship balance.
• Money Smart Checking Credit-building checking account with $10 to open, no minimum balance or monthly maintenance fees, optional Dollar-A-Day Savings Service, up to 6 free out-of-network ATM reimbursements per statement cycle, online and mobile banking access, and no overdraft fees. Designed for consumers building or repairing credit.
• Statement Savings Advanced Interest-bearing savings account offering 2.00% APY with qualifying activities, no minimum to open, and $200 daily minimum balance to avoid $5 monthly maintenance fee. Available to new money only with variable rate.
• 13-Month CD Special Certificate of deposit with 4.00% APY, $1,000 minimum opening deposit, automatically renewable at maturity at standard interest rates.
• Home Equity Line of Credit (HELOC) Variable-rate revolving line of credit secured by home equity with 10-year draw period and 20-year repayment period. Rates range from 6.75% to 7.50% APR based on loan amount tier, with fixed-rate options available. $75 annual fee waived first year.
• Everyday Loan Fixed-rate personal loan available in amounts up to $5,000 with quick approval decision. Sample 12-month $1,000 loan at 11.75% APR results in $88.73 monthly payment. Designed for consumers needing credit-building or small-dollar loans with rates lower than typical credit cards.
• Money Smart Savings Interest-bearing savings account paired with Money Smart Checking, offering up to 6 free out-of-network ATM reimbursements per calendar month when linked to existing debit card. Designed to support credit-building banking relationships.
• Money Smart CD Loan Credit-builder loan starting at $500 that funds a certificate of deposit for the same amount, requiring fixed monthly payments; upon loan payoff, the CD with earned interest becomes the borrower's asset. Designed for credit-building consumers.
• Mortgages (Wintrust Mortgage) Residential mortgage lending including purchase financing, refinance options, and home equity solutions through Wintrust Mortgage (a division of Barrington Bank & Trust Company, N.A., NMLS #449042). Offers relationship pricing program with closing cost credits or reduced rates for eligible Wintrust customers.
• Credit Cards Visa credit cards issued through Elan Financial Services offering convenient purchasing power, zero fraud liability, 24/7 cardmember service, and mobile purchasing capability via Apple Pay and Google Pay. Options include low rate, cash back, and flexible rewards cards.
• Entrepreneur Checking Business checking account for startups with no minimum balance or monthly fees for under 75 transactions, 150 free monthly transactions per month, free single-user i-BusinessBanking profile, free online statements, and mobile remote deposit capture. $20 monthly fee if 76+ transactions and $1,500 minimum not maintained.
• Business Community Checking Business checking account for established businesses with 250 free monthly transactions, free i-BusinessBanking profile with unlimited non-token users and 2 free token users. $20 monthly maintenance fee waived with $2,500 minimum average collected balance. $0.40 per additional transaction.
• Have-It-All Business Checking Premium business checking account with 400 free monthly transactions for high-volume business needs. $30 monthly maintenance fee waived with $20,000 minimum average collected balance. $0.40 per additional transaction.
• Cash Management Business cash management services including merchant processing for debit and credit card acceptance, i-BusinessCapturePro for remote deposit capture, ACH origination for electronic payments and collections, wire transfers, and fraud prevention tools including Positive Pay, Reverse Positive Pay, and ACH Positive Pay. Designed for small and mid-sized businesses.
• MaxSafe Deposit insurance enhancement program extending FDIC coverage from $250,000 to $4 million per accountholder by spreading deposits across 16 Wintrust community bank charters. Available as MaxSafe CD, MaxSafe Money Market, and MaxSafe IRA products. Designed for consumers and businesses with high deposit balances.
• SBA Express Loan Small Business Administration loan program providing up to $500,000 for expansions, acquisitions, and cash flow management. Features lower down payments on fixed-asset loans, longer amortization on business expansion loans, expedited turnaround time, and revolving lines of credit available.
• SBA 7(a) Loan SBA 7(a) loan program providing up to $5 million for business expansion, company acquisition, debt refinance, and working capital. Loan amounts may exceed traditional bank collateral requirements with fees that can be financed. Includes Working Capital Pilot Program for accounts receivable and inventory financing.
• SBA 504 Loan SBA 504 loan program providing up to $10 million for acquisition or refinance of equipment and owner-occupied real estate. Benefits include down payments as low as 10%, longer-term fixed rates on a portion of financing, and fees that can be financed.
• Easy Access Lines of Credit Revolving lines of credit and term loans for small business cash flow, equipment purchases, inventory purchases, and business overdraft protection.
• Asset-Based Lending Wintrust Business Credit offering revolving lines of credit secured by accounts receivable and inventory, and term loans secured by equipment and real estate for middle-market companies. Designed for growth financing, acquisitions, recapitalizations, and turnaround situations.
• Treasury Management Commercial treasury management services including payment processing, liquidity management, and specialized solutions for business financial operations. Designed for commercial and middle-market clients.
• Wintrust Wealth Management Comprehensive wealth management services including asset management, private banking, investment and insurance products, and trust and estate services for personal and business clients. Designed for high-net-worth individuals and business owners.
• Business Owner Services Suite of business owner-specific services including liability protection, business risk management, loss of key personnel coverage, real estate trust solutions, and business succession planning provided through Wintrust Wealth Management. Designed for business owners.
• Safe Deposit Boxes Secure storage service for important documents and irreplaceable belongings available in various sizes with waived fees based on checking account tier.
• Currency Exchange International currency exchange services with euros, British pounds, and Canadian dollars available in most branches, with an additional 89 currencies available for order within one day.

Quantifiable outcome

• 9 Greenwich Excellence Awards recognizing excellence in retail banking and small business banking
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core.

• Clean Lakes AlliancecoreStrategic or Co-development PartnerClean Lakes Alliance is a nonprofit organization based in Madison, Wisconsin focused on restoring and protecting local lake ecosystems through advocacy, education, and community support. Town Bank partners with Clean Lakes Alliance as part of its commitment to environmental stewardship and community investment, providing financial support and serving as a community resource for environmental health initiatives.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services is the creditor and issuer of Town Bank's credit card products under a Visa U.S.A. license. This partnership provides comprehensive credit card services including zero fraud liability protection, 24/7 cardmember service, mobile purchasing capability, and global acceptance at millions of locations worldwide.
• TrusteercoreTechnology or IntegrationTrusteer provides free fraud protection software to Town Bank business customers to protect against malware infections and phishing attacks. This security partnership enhances the bank's fraud prevention capabilities for commercial banking clients.
• Wintrust Mortgage (Division of Barrington Bank & Trust Company, N.A.)coreTechnology or IntegrationWintrust Mortgage is a division of Barrington Bank & Trust Company, N.A. (NMLS #449042), a Wintrust Community Bank. This internal partnership provides residential mortgage lending services including purchase mortgages, refinances, and home equity solutions. The relationship pricing program rewards Wintrust Community Bank customers with closing cost credits or reduced interest rates.
• Wintrust Wealth ManagementcoreStrategic or Co-development PartnerWintrust Wealth Management provides comprehensive wealth management services to Town Bank customers including asset management, private client banking, investment products, trust and estate services, and business owner services. The partnership enables Town Bank to offer holistic financial solutions for high-net-worth individuals and business owners.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Associated Bank: Wisconsin-headquartered regional bank with comparable community banking model, consumer and small business lending, and similar Wisconsin/Illinois geographic footprint.
• North Shore Bank: Wisconsin-based community bank headquartered in Brookfield with similar branch-based model, consumer banking products, and small business lending in overlapping Milwaukee-area markets.
• WaterStone Bank: Wisconsin community bank headquartered in Wauwatosa with similar personal banking, mortgage lending, and small business banking offerings in the Milwaukee metro.
• Johnson Financial Group: Wisconsin-based community bank with comparable personal, business, and wealth management services concentrated in the Milwaukee and southeastern Wisconsin markets.
• IncredibleBank: Wisconsin community bank (formerly known as River Valley Bank) with similar community banking model and small business focus serving Wisconsin and Michigan markets.
• PyraMax Bank: Wisconsin community bank based in Green Bay with comparable personal and small business banking products across eastern Wisconsin markets.

Broad incumbents

• BMO Harris Bank: Chicago-based national commercial bank with significant Wisconsin and Illinois retail and commercial banking presence, operating as a broader incumbent in the same Midwest markets.
• Chase Bank: National full-service bank with growing branch presence in Wisconsin and the Midwest, offering consumer and small business banking that overlaps with Town Bank's core segments.
• U.S. Bank: National commercial bank with strong Midwest presence and full community banking product suite, directly competing for consumer and small business deposits in Town Bank's geographic markets.

Others

• Wintrust Mortgage: Internal Wintrust mortgage division that originates residential mortgages distributed through Town Bank branches; serves as a sister entity and key cross-sell channel rather than a competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/town-bank-of-elm-grove

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries6 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 Town Bank