Palatine Bank & Trust

Name

Palatine Bank & Trust

Legal name

Palatine Bank & Trust

Website

https://palatinebank.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Deposit Operations (Account Maintenance, Fees, Reconciliations) (FSABALAE)

akta.pro secondary industries

Customer Servicing & Contact Center Operations (Service Requests, Complaints) (FSABALAK), Reconciliations, Controls & Financial Operations (GL, Nostro/Vostro, Suspense) (FSABALAI)

Keywords

• Community banking
• Personal banking services
• Small business lending
• Commercial lending
• Mortgage financing

Headquarters

HQ city

Palatine

HQ country

United States

HQ region

North America

Offices10 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. Interest Income from Lending: The bank generates revenue through interest earned on loans including mortgages, home equity lines of credit, personal loans, small business loans, and commercial loans. Interest rates vary based on product type and market conditions.
2. Deposit Account Fees and Charges: Monthly maintenance fees on checking and savings accounts, ATM fees, wire transfer fees, and other account service charges. Many fees are waived for account holders meeting minimum balance requirements.
3. Wealth Management Services: Asset management, investment products, trust services, and private banking offered through Wintrust Wealth Management partnerships.
4. Credit Card Revenue: Credit card products issued through Elan Financial Services partnership. Revenue includes interchange fees and interest charges.
5. Mortgage Banking: Mortgage originations and servicing through Wintrust Mortgage, a division of Barrington Bank & Trust Company. Includes purchase, refinance, and home equity products.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Palatine Bank & Trust is a community bank providing personal, small business, and commercial banking services including checking and savings accounts, certificates of deposit, mortgages, home equity lines of credit, personal and business credit cards, SBA loans, commercial lending, treasury management, and wealth management referral services. Distribution occurs through physical branches in the greater Chicago area, a digital banking platform (Wintrust Digital Banking mobile and online), and phone banking channels, with credit cards issued through Elan Financial Services and mortgages through the Wintrust Mortgage division.

Product overview

Palatine Bank & Trust operates as a Wintrust Community Bank offering a multi-segment banking platform across personal, small business, and commercial lines. The core product architecture consists of deposit accounts (checking, savings, CDs), lending products (personal loans, credit cards, HELOCs, mortgages, SBA loans, commercial lending), and fee-based services (treasury management, wealth management, fraud prevention). Digital banking (online and mobile, including Zelle® P2P payments and mobile deposit) serves as the cross-cutting access layer. Loyalty programs — Platinum Adventures® Club (50+ seniors) and Junior Savers Club® (under-22 youth) — differentiate the community banking experience. Commercial services span asset-based lending, capital markets, commercial leasing, treasury management, and international services. The bank distributes mortgages through Wintrust Mortgage (a division of Barrington Bank & Trust) and credit cards through Elan Financial Services (Visa). The overall portfolio is held under the Wintrust Financial Corporation umbrella of 16 bank charters with over 200 locations.

Differentiator

Problem solved

Functional benefit

Brands

• Total Access Checking: Everyday banking basics checking account with early direct deposit and free ATMs nationwide.
• Access Plus Checking
• Premier Checking
• Statement Savings Advanced
• Money Smart Checking
• Everyday Loan
• Platinum Adventures Club
• Junior Savers Club

Products and services

• Total Access Checking Everyday banking basics checking account with no minimum monthly balance or maintenance fees, early direct deposit up to 2 business days early, and free ATMs nationwide through Allpoint, MoneyPass, and SUM networks. Requires $100 to open. Target: individual consumers.
• Access Plus Checking Interest-bearing checking account with waived safe deposit box fee, free first order of specialty checks, and outgoing domestic wire transfer reimbursements. Requires $2,500 average daily balance or $25,000 combined relationship balance to waive the $10 monthly fee. Target: consumers with relationship balances.
• Premier Checking Premium tiered-interest checking with comprehensive benefits including waived safe deposit box fees, up to 5 outgoing domestic wire reimbursements, and a 0.15% rate bonus on Statement Savings Advanced. Requires $10,000 average daily balance or $75,000 combined relationship balance. Target: high-relationship-balance consumers.
• Statement Savings Advanced Interest-bearing savings account with variable rate and no minimum to open, currently offering a promotional 2.00% APY with qualifying activities (new money only). $200 daily minimum balance to avoid $5 monthly fee. Target: personal savers.
• 13-Month CD Special Certificate of deposit with a promotional 4.00% APY, requiring $1,000 minimum to open. Auto-renews at maturity into a CD with standard rate; early withdrawal penalties apply. Target: personal savers seeking fixed-income deposits.
• Money Smart Checking Entry-level credit-building checking account with $10 to open, no minimum monthly balance or maintenance fees, up to 6 free out-of-network ATM reimbursements per statement cycle, optional Dollar-A-Day automatic savings transfer, and no overdraft fees. Target: consumers building or rebuilding credit.
• Money Smart Savings Interest-bearing savings account designed to pair with Money Smart Checking, offering linked debit card access for up to 6 free out-of-network ATM reimbursements per calendar month. Target: credit-building consumers.
• Everyday Loan Fixed-rate personal loan with quick approval decision, available in amounts up to $5,000. Rate is Prime + 5.00%, currently 11.75% APR as of 12/15/25. Designed as a lower-cost alternative to credit cards or fast-cash loans. Target: consumers needing small-dollar fixed-rate loans.
• Money Smart CD Loan Secured loan where borrowed funds are used to open a certificate of deposit of equal value. Fixed monthly payments on the loan are made, and upon payoff, the CD with earned interest is transferred to the borrower. Minimum loan amount of $500. Target: credit-building consumers.
• Personal Credit Cards Visa credit cards issued through Elan Financial Services offering flexible purchasing power, mobile purchasing capability, zero fraud liability, and 24/7 cardmember service. Multiple card types cover cash back, rewards, and credit-building needs. Target: personal and small business card users.
• Home Equity Line of Credit (HELOC) Variable-rate revolving credit line secured by home equity with a 10-year draw period and 20-year repayment period. Rates range from 6.75% APR ($500,000+) to 7.50% APR ($10,000-$99,999), with fixed-rate lock options on up to 2 portions of the balance simultaneously. Target: homeowners seeking equity-based financing.
• Wintrust Mortgage Residential mortgage division of Barrington Bank & Trust Company offering purchase mortgages, refinancing, and home equity funding solutions. Includes Relationship Pricing Program rewarding Wintrust Community Bank and Wealth Management customers with closing cost credits or reduced interest rates. NMLS #449042. Target: residential mortgage borrowers.
• Digital Banking Platform Online and mobile banking providing account access, mobile check deposit, Zelle peer-to-peer payments, financial insights, and real-time account monitoring. Mobile deposit subject to limits with funds typically available next business day. Target: retail and small business banking customers.
• MaxSafe Deposit product providing FDIC insurance coverage beyond standard limits by distributing deposits across multiple Wintrust bank charters. Target: small business customers seeking enhanced deposit insurance.
• Small Business Checking & Savings Business deposit accounts including checking and savings designed for small business cash flow management with digital banking access. Target: small business owners.
• Small Business Cash Management Cash flow management solutions for small businesses including account management tools and reporting. Target: small business owners.
• SBA Loans Small Business Administration loan programs for both small business and commercial customers, providing government-backed lending for business start-up, expansion, and working capital. Target: small business borrowers.
• Small Business Credit Cards Credit card products tailored for small business spending needs, issued through the same Elan Financial Services partnership as personal cards. Target: small business owners.
• Asset Based Lending Commercial financing secured by collateral such as inventory, receivables, and equipment, designed for businesses with significant asset holdings seeking capital. Target: mid-market commercial clients.
• Capital Markets Capital markets products and advisory services for commercial clients, supporting complex financing needs. Target: mid-market and larger commercial clients.
• Commercial Lending Comprehensive commercial loan products including term loans, lines of credit, and structured financing for businesses and real estate investors. Target: mid-market commercial clients and real estate investors.
• Commercial Leasing Equipment and asset leasing solutions for commercial clients, enabling businesses to acquire necessary equipment with flexible financing terms. Target: commercial businesses needing equipment financing.
• Treasury Management Commercial cash management services including account monitoring, payment processing, liquidity management, and reporting tools. Target: commercial business clients.
• International Services Foreign currency exchange and international banking services, with euros, British pounds, and Canadian dollars available at most branches and 89 other currencies available within one day. Target: commercial clients with international banking needs.
• Retirement Benefits Advisors Retirement plan advisory services for commercial clients, helping businesses design and manage employee retirement benefit programs. Target: commercial employers.
• Private Client Services Wealth management and private banking services for high-net-worth individuals, offering personalized financial solutions alongside retail and commercial banking. Target: high-net-worth individuals.
• Positive Pay Fraud Prevention Fraud prevention suite including Check Positive Pay (compares presented checks against issued information), Reverse Positive Pay (allows review before payment), and ACH Positive Pay (scans and returns unauthorized electronic entries) to protect commercial accounts. Target: commercial business clients.
• Community Banking Perks Bundle of free or discounted services including free coin counting, safe deposit boxes, gift cards, and currency exchange, differentiating the bank from larger national banks. Target: personal banking customers.
• Money Smart Financial Education FDIC-provided financial literacy curriculum offered to consumers, young adults, and small businesses through in-person classes and community events, covering topics such as banking basics, budgeting, credit, and home ownership. Target: consumers and small businesses.
• Wintrust at Work Employee banking program providing financial services and wellness benefits to employer groups, including direct deposit, payroll deduction savings, and financial education resources for employees. Target: employer groups and their employees.
• Platinum Adventures Club Social and travel club for customers 50+ years of age, offering exclusive experiences, educational seminars, trips, and community events. Membership requires holding an account at a Wintrust Community Bank. Target: customers aged 50 and over.
• Junior Savers Club Savings program for children and teenagers (under age 22) with a custodial UTMA savings account, $10 new account bonus with qualifying activities, free events, field trips, giveaways, and a Treat Dollars reward program redeemable at local businesses. Target: youth and parents.

Quantifiable outcome

• Nearly $2 billion in assets managed at Barrington Bank & Trust under current leadership
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Barrington Bank & Trust Company, N.A.coreStrategic or Co-development PartnerAffiliate bank and parent organization for Palatine Bank & Trust. Led by Chairman W. Bradley Stetson with nearly $2 billion in assets. Market leader in Barrington, IL. Home to Wintrust Mortgage division. NMLS #449042.
• Wintrust MortgagecoreStrategic or Co-development PartnerA division of Barrington Bank & Trust Company, N.A., providing residential mortgage lending including purchase, refinance, and home equity products. Offers Relationship Pricing Program for existing Wintrust customers. NMLS #449042.
• Wintrust Wealth ManagementcoreStrategic or Co-development PartnerWealth management division offering asset management, investments, insurance, private banking, and trust and estate services. Integrated with Wintrust Community Bank deposits and services for comprehensive financial solutions.
• FDIC (Money Smart Program)minorStrategic or Co-development PartnerPartnership with FDIC to offer Money Smart financial education curriculum to community members. Free educational classes for consumers, young adults, and small businesses using FDIC-developed materials.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Bridgeview Bank Group: Bridgeview Bank Group is a Chicago-area community bank with personal and commercial banking. Comparable as a regional Chicago community bank competitor with overlapping market geography and similar community-focused value proposition.
• Lakeside Bank: Lakeside Bank is a smaller Chicago-based community bank focused on personal and small business banking. Comparable as a hyper-local Chicago community bank competitor, though with smaller scale than Palatine's Wintrust charter backing.

Direct peers

• Byline Bancorp: Byline Bank is a Chicago-based community bank focused on serving small and medium-sized businesses with commercial lending, SBA loans, and treasury management. Directly comparable as a Chicago commercial banking competitor with similar SBA and SMB specialization.
• First Busey Corporation: Busey Bank operates a multi-state community banking franchise across Illinois, Indiana, Missouri, and Florida with personal, business, and wealth management services. Comparable as a Midwestern community bank holding company with similar geographic footprint to Wintrust and overlapping customer segments in greater Chicago.
• Old Second Bancorp: Old Second National Bank is an Illinois-based community bank operating a multi-charter model with branches across the Chicago metropolitan area. Directly comparable as a Chicago-area community bank offering personal, small business, and commercial banking with similar product breadth and community-focused positioning.
• Midland States Bancorp: Midland States Bank operates community banking, commercial lending, and wealth management across Illinois and surrounding states. Comparable as a Midwestern community bank with similar multi-segment platform (personal, commercial, wealth) and SBA/government lending focus.
• 1st Source Corporation: 1st Source Bank is a community bank serving Indiana and surrounding Midwest markets with personal, business, and commercial banking. Comparable as a Midwest-focused community bank with similar community banking model and commercial banking depth in a similar geographic corridor.
• First Midwest Bancorp (now Old Second): First Midwest was a Chicago-area community bank holding company that merged into Old Second. Historical peer providing comparable Midwest community banking with multi-segment products across IL, WI, and IN markets.

Broad incumbents

• Northern Trust Corporation: Northern Trust is a large Chicago-headquartered financial services firm with wealth management, corporate banking, and asset servicing. Comparable as a Chicago-based banking incumbent, though significantly larger and focused on high-net-worth and institutional segments versus Palatine's community focus.
• JPMorgan Chase (Chase Bank): JPMorgan Chase operates the largest branch network in the Chicago metro area, with comprehensive personal and commercial banking. Comparable as the large national bank against which Palatine explicitly positions itself ("alternative to big banks"), competing on service and community ties versus scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/PalatineBank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Palatine Bank & Trust