Wheaton Bank & Trust

What Wheaton Bank & Trust does

Wheaton Bank & Trust Company, N.A. is a privately held community bank chartered in Illinois and operating as one of 16 community bank charters under Wintrust Financial Corporation, a regional banking organization with $74 billion in total assets. Founded in 1991 to provide an alternative to large national banks, the bank delivers personal, small business, and commercial banking services through physical branches, digital channels, and a telebank operation. Its product platform spans tiered consumer checking (Total Access, Access Plus, Premier), savings and CDs (including a 13-Month CD Special at 4.00% APY and Statement Savings Advanced at 2.00% APY), credit cards issued through Elan Financial Services, home equity lines of credit (6.75%-7.50% APR), residential mortgages originated through Wintrust Mortgage, and SBA lending programs (Express, 7(a), 504). Small business and commercial customers receive treasury management, cash management, remote deposit capture (i-BusinessCapturePro), fraud protection (Positive Pay), and the MaxSafe program that extends FDIC coverage to $4 million per accountholder by spreading deposits across 16 Wintrust charters.

The bank's technology stack is built on the Wintrust Digital Banking platform with iOS and Android applications, Zelle P2P integration, ACH origination, and Trusteer-powered fraud protection. Distribution includes 8+ documented Wheaton-area branch locations plus access to 200+ Wintrust Community Bank branches and 55,000+ surcharge-free ATMs through Allpoint, MoneyPass, and SUM networks. Revenue is generated through interest income on loans and deposits, account maintenance fees, transaction-based lending fees, and wealth management referrals to Wintrust Wealth Management. Customer segments are diversified across individual consumers, small business owners, and commercial/mid-market borrowers, supplemented by targeted loyalty programs (Platinum Adventures for 50+ customers, Junior Savers Club for under-22 youth).

Name

Wheaton Bank & Trust

Legal name

Wheaton Bank & Trust Company, N.A.

Website

https://wheatonbank.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

Wheaton Bank & Trust is a privately held Illinois community bank, one of 16 charters under Wintrust Financial Corporation ($74B assets), offering personal, small business, and commercial banking, mortgages, SBA loans, treasury management, and MaxSafe FDIC coverage up to $4 million across the greater Chicago area.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industry

Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

• Community banking
• Personal banking
• Small business lending
• Commercial lending
• Wealth management

Headquarters

HQ city

Wheaton

HQ country

United States

HQ region

North America

Offices8 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: Traditional banking revenue from interest earned on loans including mortgages, HELOCs, personal loans, business loans, and SBA loans. Interest is earned on variable and fixed-rate products.
2. Checking and Savings Account Fees: Monthly maintenance fees for checking accounts (waived with minimum balances), with various tiers including Total Access Checking, Access Plus Checking, and Premier Checking.
3. Mortgage Lending: Residential mortgage origination and servicing through Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A.
4. Home Equity Line of Credit: HELOC products with variable rates ranging from 6.75% to 7.50% APR, plus annual fees of $75 waived for first year
5. Business Banking Services: Business checking and savings accounts, cash management services, treasury management, and business credit cards
6. MaxSafe Program: FDIC insurance extension program allowing deposits up to $4 million per accountholder, offered through CD and money market accounts

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Wheaton Bank & Trust operates as a community bank providing personal checking and savings accounts, mortgages, home equity lines of credit, credit cards, and credit-building products, alongside small business and commercial banking services such as business checking, SBA loans, cash management, treasury management, and asset-based lending. It is a wholly-owned subsidiary of Wintrust Financial Corporation and serves customers primarily through physical branches and digital banking channels across the Midwest.

Product overview

Wheaton Bank & Trust Company, N.A. operates as a Wintrust Community Bank offering a comprehensive banking platform with personal, small business, and commercial banking divisions. The personal banking suite includes three checking tiers (Total Access Checking, Access Plus Checking, Premier Checking), savings products (Statement Savings Advanced with promotional 2.00% APY, 13-Month CD at 4.00% APY), home lending through Wintrust Mortgage and HELOC products, credit cards issued via Elan Financial Services, and credit-building solutions (Money Smart Checking, Money Smart Savings, Everyday Loan, Money Smart CD Loan). Small business offerings encompass three checking accounts (Entrepreneur Checking, Business Community Checking, Have-It-All® Business Checking), SBA lending programs (SBA Express, SBA 7(a), SBA 504), cash management services, and Easy Access credit lines. The bank also provides MaxSafe for extended FDIC coverage up to $4 million, treasury management services, and digital banking platforms (Wintrust Digital Banking, i-BusinessBanking™). Community engagement programs include Junior Savers Club® for youth and Platinum Adventures® Club for customers 50+. The product architecture follows a modular approach where core deposit accounts serve as the foundation, supplemented by lending products, wealth management referrals, and digital banking tools.

Differentiator

Problem solved

Functional benefit

Brands

• Wintrust Community Bank: A network of community banks operated by Wintrust Financial Corporation, offering personal, small business, and commercial banking services.

Products and services

• Total Access Checking

Quantifiable outcome

• MaxSafe extends FDIC insurance from $250,000 to $4 million per accountholder

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerSBA-approved lender offering SBA Express Loans (up to $500,000), SBA 7(a) Loans (up to $5M), and SBA 504 Loans (up to $10M) to help small businesses start, expand, and grow. The bank guides customers through the SBA lending process with tailored solutions.
• Wintrust Mortgage (division of Barrington Bank & Trust Company, N.A.)coreTechnology or IntegrationResidential mortgage lending provided through Wintrust Mortgage, NMLS #449042. Offers purchase, refinance, and home equity solutions with Relationship Pricing Program for existing Wintrust customers.
• Wintrust Financial CorporationcoreStrategic or Co-development PartnerParent financial holding company with $74 billion in assets operating 16 community bank charters across Illinois, Wisconsin, Michigan, Indiana, and Florida. Provides centralized technology, products, and brand coordination.
• Wintrust Wealth ManagementcoreStrategic or Co-development PartnerAffiliated wealth management services including asset management, private client banking, investments, insurance, and trust & estate services available to bank customers.
• Early Warning Services (Zelle)coreTechnology or IntegrationP2P payment integration through Zelle enabling fast, safe money transfers between enrolled bank accounts. Transactions typically occur in minutes between trusted parties.
• FDIC (Money Smart Program)minorStrategic or Co-development PartnerFinancial education curriculum partnership providing Money Smart classes for consumers, young adults, and small businesses to promote financial literacy.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Byline Bank: Chicago-based community bank founded in 1978 offering personal, small business, and commercial banking across the Chicagoland area. Direct comparable to Wheaton Bank & Trust in geography, customer segments, and product suite.
• Busey Bank: Illinois-headquartered community bank with personal, business, and wealth management offerings across Illinois, Indiana, Florida, and Missouri. Comparable mid-sized community bank competing in overlapping Chicago-area and Florida markets.
• Old Second Bancorp: Aurora, Illinois-based community bank serving Chicago's western suburbs and surrounding regions with personal, commercial, and treasury management services. Head-to-head competitor in DuPage/Kane county footprint.
• Barrington Bank & Trust (Wintrust): Sister charter within the same Wintrust Financial family, serving Chicago's northwestern suburbs. Operates identical product suite and MaxSafe program, providing direct internal comparison point for performance.
• Naperville Bank & Trust (Wintrust): Sister Wintrust Community Bank charter operating in the immediate DuPage County geography, offering the same Wintrust Digital Banking platform, MaxSafe, and SBA lending capabilities. Closest direct geographic competitor.
• Hinsdale Bank & Trust (Wintrust): Sister charter within Wintrust's family serving Chicago's western and southwestern suburbs. Operates with the same Wintrust products and platform but distinct local branding and leadership.
• Inland Bank and Trust: Illinois-chartered community bank headquartered in Chicago suburbs serving personal, small business, and commercial customers with comparable full-service banking model. Competes in similar DuPage and Cook county footprint.
• Lakeside Bank: Chicago-based independent community bank offering personal, business, and commercial banking across the metropolitan area. Comparable scale, customer mix, and relationship-banking positioning.
• Libertyville Bank & Trust (Wintrust): Additional Wintrust sister charter serving Lake County, Illinois suburbs. Provides same MaxSafe and digital platform but operates in distinct geographic territory north of Wheaton.

Broad incumbents

• First Midwest / Old National Bank: Large Midwest regional bank following First Midwest–Old National merger, serving Illinois, Indiana, Michigan, Wisconsin, and other states. Broader incumbent competing in similar SMB/commercial segments across overlapping geography.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wheatonbank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Subsidiaries4 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 Wheaton Bank & Trust