What Burling Bank does

Burling Bank is an Illinois state-chartered, FDIC-insured independent community bank headquartered at the Chicago Board of Trade Building since its founding in 1989. The bank operates a multi-vertical service model organized around Private Banking (deposits, mortgages, home equity, wealth management), Commercial Banking (small business, corporate banking, asset management, commercial lending), Innovation Banking (startups, VC/PE funds, venture debt), Impact Banking (nonprofits and foundations), and industry-specific practices for trading firms and high-compliance industries. Customer accounts total approximately $158 million in deposits against $196 million in net assets, with a headcount of 11-50 employees serving primarily the Chicago metropolitan market.

The bank's technology stack is a conventional community-banking platform: online and mobile banking, Zelle, bill pay, mobile deposit, treasury tools (ACH origination, wire entry, positive pay), and multi-layered fraud detection. Wealth and asset management are delivered through a long-standing joint venture with Chicago Partners Wealth Advisors (CFA/CFP advisors, fiduciary standard, 55+ professionals, 2,500+ clients), and credit cards are issued via a partnership with Elan Financial Services under Visa. Distribution includes a single physical branch in the Board of Trade Building plus access to over 60,000 surcharge-free ATMs through the STAR*, MoneyPass, and NYCE networks.

Burling generates revenue primarily through net interest income on its lending portfolio (residential mortgages, commercial real estate, equipment, working capital, capital call lines, venture debt), supplemented by deposit account fees, card interchange from Elan, and revenue-sharing arrangements with Chicago Partners. Free or low-fee "Innovator Checking" and "Impact Checking" products are used strategically as customer acquisition tools into higher-revenue lending, wealth, and treasury relationships. In November 2025, LevelField Financial received conditional Illinois regulatory approval to acquire Burling Bank (pending Federal Reserve approval), which would rebrand the bank as LevelField Bank and expand operations nationwide with crypto-integrated services.

Name

Burling Bank

Legal name

Burling Bank

Website

https://burlingbank.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Burling Bank is a Chicago-based, FDIC-insured independent community bank founded in 1989 that provides private banking, commercial banking, innovation/startup banking, and specialty services to HNW individuals, small businesses, nonprofits, VC/PE funds, and trading firms in the Chicagoland area.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Real Estate (Commercial Property, REITs) (FSABACAH), Credit Cards & Revolving Credit (FSABAAAC), Wealth Lending & Margin / Securities-Backed Lines (Retail) (FSAAAAAN), Liquidity & Cash Concentration (Sweeping, pooling, notional pooling) (FSABAIAC)

Keywords

• Community banking
• Private banking
• Commercial lending
• Wealth management
• Innovation banking

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Traditional lending revenue from mortgages, home equity loans, commercial real estate loans, equipment loans, working capital loans, and specialized lending to funds and traders. Interest earned on loan portfolio represents core banking revenue.
2. Deposit Account Fees and Service Charges: Revenue from checking accounts, money market accounts, CDs, and various commercial deposit solutions. Some premium accounts have monthly maintenance fees while others are fee-free.
3. Wealth Management Services: Revenue sharing or referral arrangements with Chicago Partners Wealth Advisors for investment management, financial planning, insurance, and estate planning services offered to private banking clients.
4. Credit Card Revenue: Credit card interchange and fee revenue generated through Elan Financial Services partnership for Visa credit cards offered to consumers and businesses.
5. Commercial Banking Services: Treasury management, wire transfers, ACH origination, foreign exchange services, and commercial lending solutions for corporate clients.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Burling Bank is a Chicago-based independent community bank that delivers traditional banking products across private banking (deposits, lending, wealth management), commercial banking (small business, corporate, asset management, commercial lending), innovation banking (startups, venture and private equity funds), and impact banking (nonprofits and foundations). It supplements these with industry-specialty services for trading firms and high-compliance industries, supported by online and mobile digital banking, treasury management tools, FDIC-insured deposits including Insured Cash Sweep, and wealth/asset management delivered in partnership with Chicago Partners Wealth Advisors.

Product overview

Burling Bank is a Chicago-based independent community bank offering a comprehensive suite of banking products organized across multiple service lines. The bank operates a platform model with core divisions including Private Banking (deposits, wealth management, and lending for individuals), Commercial Banking (small business, corporate banking, asset management, and commercial lending), Innovation Banking (startup and venture fund services), Impact Banking (nonprofit solutions), and industry-specific banking for trading firms and high-compliance sectors. All divisions share common digital banking infrastructure including online/mobile banking, while wealth and asset management services are delivered through a joint venture with Chicago Partners Wealth Advisors.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Banking
• Private Deposit Solutions
• Burling Wealth Management
• Private Lending Solutions
• Burling Small Business Banking
• Burling Corporate Banking
• Corporate Deposit Solutions
• Burling Asset Management
• Commercial Lending
• Innovation Banking
• Innovator Banking Solutions
• Fund Banking Solutions
• Innovator & Fund Lending
• Impact Banking
• Trading Firms Banking
• Specialty Banking

Quantifiable outcome

• Free checking for qualifying startups with no monthly maintenance fees, free incoming wires, free outgoing wires up to 15/month
• +2 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Chicago Partners Wealth AdvisorscoreStrategic or Co-development PartnerLong-standing partnership between Burling Bank and Chicago Partners Wealth Advisors for providing wealth management and asset management services. Chicago Partners provides credentialed advisors (CFA or CFP) alongside dedicated Burling bankers. Chicago Partners was founded in 2008 with over 55+ professionals serving 2,500+ clients. They operate under fiduciary standard with no outside sales commissions.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services is the creditor and issuer of Visa credit cards offered through Burling Bank. Cards include various options for consumers and businesses including low rate, cash back, and flexible rewards. Elan provides zero fraud liability for unauthorized transactions.
• Allies for Community Business (formerly ACCION Chicago)supportingStrategic or Co-development PartnerChicago's largest small business micro lender providing capital, coaching, and collaboration for entrepreneurs. Burling Bank supports their mission to broaden reach and assist community members who may not qualify for traditional bank loans.
• MoneythinksupportingStrategic or Co-development PartnerNon-profit organization with chapters on over 30 college campuses providing financial capability training. Partnership supports Burling Bank's community education mission.
• STAR*, MoneyPass, NYCE (ATM Networks)supportingTechnology or IntegrationPartnership with major ATM networks (STAR*, MoneyPass, NYCE) provides Burling Bank customers access to over 60,000 surcharge-free ATMs nationwide. Also includes Fifth Third ATM locations for remote deposit capture.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Byline Bancorp: Byline Bancorp is a Chicago-based community bank holding company with a similar focus on small business, commercial lending, and private banking across the Chicagoland area. It is the most direct comparable in size, customer mix, and product breadth to Burling Bank.
• Lakeside Bank: Lakeside Bank is a Chicago-based independent community bank serving businesses and individuals in the metropolitan area. Its focus on local relationship banking, commercial lending, and personalized service closely mirrors Burling's community banking model.
• Old Second Bancorp: Old Second Bancorp is a Chicago-area community banking franchise with commercial, small business, and wealth management offerings. It serves many of the same suburban Chicago customer segments as Burling and represents a comparable community bank model at slightly larger scale.
• Inland Bank and Trust: Inland Bank and Trust is a Chicago suburban community bank with commercial banking, treasury management, and small business services. It directly competes with Burling for the same Chicagoland small business and commercial deposit/lending relationships.
• First Bank of Highland Park: First Bank of Highland Park is a small Chicago suburban community bank offering personal and business banking services. Its local, relationship-driven model and asset size make it a tight size and strategy comparable to Burling Bank.
• Marquette Bank: Marquette Bank is a Chicago-area community bank providing personal, small business, and commercial banking services to local customers. Its neighborhood-focused model and Chicago footprint make it a direct community banking peer.

Broad incumbents

• Wintrust Financial: Wintrust Financial is a large Chicago-based community-oriented banking group with a network of community banks across the Midwest. It is a broader incumbent competitor offering overlapping commercial, private, and wealth capabilities but at materially larger scale.
• BMO Harris Bank: BMO Harris Bank is the U.S. commercial banking arm of BMO Financial Group with deep Chicago roots. It competes with Burling for mid-market commercial, treasury management, and private banking relationships, but as part of a much larger diversified bank.
• CIBC Bank USA: CIBC Bank USA has a strong Chicago presence focused on private wealth, commercial, and personal banking. It overlaps with Burling's private banking and wealth management offerings but operates as part of the larger CIBC group.

Emerging players

• Bridge Bank (Western Alliance Bank): Bridge Bank, part of Western Alliance, specializes in technology, innovation, and venture banking. It competes directly with Burling's Innovation Banking division for startup, VC fund, and venture debt relationships, particularly venture-backed companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/burlingbank
• LinkedInlinkedin.com/company/burling-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Burling Bank