First Savings Bank of Hegewisch

Name

First Savings Bank of Hegewisch

Legal name

First Savings Bank of Hegewisch

Website

https://fsbhegewisch.com

Company type

Private

Founded year

1914

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Student & Youth Banking (FSABAAAH), HELOC Origination (Revolving Lines of Credit) (FSALAGAB), Home Equity–Based Debt Consolidation (HEL/HELOC for consolidation) (FSAKAIAE)

Keywords

• Community banking
• Retail deposit services
• Consumer mortgage lending
• Personal banking
• Local bank branches

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: The bank generates revenue primarily through interest earned on mortgage loans, home equity loans, vehicle loans, and other credit products. Rates vary by product type and term length.
2. Deposit Interest Spread: Revenue generated from the spread between interest paid on deposits (checking, savings, CDs, money market accounts) and interest earned on loans and investments.
3. Account and Service Fees: Various fees including monthly maintenance fees for certain accounts (waived with direct deposit/transaction requirements), overdraft fees, wire transfer fees, and money order fees.
4. ATM and Debit Card Fees: Income from ATM usage and debit card transactions.
5. Wire Transfer Services: Fees for domestic wire transfers and Directo-a-Mexico international transfer service.
6. Safe Deposit Boxes: Rental income from safe deposit boxes available at Main, Highland, and St. John offices.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

First Savings Bank of Hegewisch is a locally managed independent community bank offering personal deposit products (checking, savings, money market, CDs, IRAs), consumer loan products (mortgages, home equity, home improvement, and vehicle loans), and digital banking services (online banking, mobile app, Zelle P2P payments, card management). The bank distributes these through 14 physical branches across southeast Chicagoland and Northwest Indiana alongside a Fiserv-powered online and mobile banking platform.

Product overview

First Savings Bank of Hegewisch offers a comprehensive suite of community banking products organized into three main categories: Deposit Products (checking accounts, savings accounts, money market accounts, CDs & IRAs), Loan Products (mortgage loans, home equity/home improvement loans, vehicle loans), and Digital Banking Services (online banking, mobile banking app, Zelle P2P payments, mobile wallet integration, Notifi alerts, card management tools). The digital banking platform is accessible through online banking, a mobile app for Apple and Android devices, and 24-hour telephone banking. The bank differentiates itself through community-focused service with local branches throughout southeast Chicagoland and Northwest Indiana, offering over 100 years of service since 1914.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Five consumer checking account options including Totally Free Checking, Free Checking Plus Interest, Senior Checking (ages 55+), First Checking (for students ages 14-19), and E-Account, each with different fee structures and minimum balances.
• Savings Accounts Consumer savings options including Statement Savings, Passbook Savings, and Kid's Account (up to age 12), all earning interest with no monthly fees.
• Money Market Accounts Tiered interest-bearing money market accounts including Diamond Money Market ($50,000 minimum) and Premier Money Market ($1,500 minimum) with unlimited transfers.
• Certificates of Deposit (CDs) and IRAs Certificates of Deposit with terms from 3 to 48 months and minimum deposits as low as $50, plus Traditional IRA, Roth IRA, and Coverdell Education Savings Account options for retirement and education savings.
• Mortgage Loans Home purchase and refinance loans including Fixed-Rate Mortgages, Jumbo Loans, Multi-Unit Loans (up to 4 units), and First-Time Homebuyer Loans with terms up to 30 years.
• Home Equity and Home Improvement Loans Secured loans using home as collateral: Home Equity Loans up to $200,000 for larger projects and Home Improvement Loans up to $50,000 for specific renovation projects, with fixed rates and no closing costs.
• Vehicle Loans Consumer auto financing for new and used cars, trucks, and SUVs with competitive fixed rates and terms up to 60 months.
• Online Banking Secure internet banking platform allowing customers to access transaction history, manage accounts, pay bills online, and view eStatements.
• Mobile Banking App

Quantifiable outcome

• 100+ years of community banking service
• +1 more outcomes

Segments5 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Deluxe CorporationcoreTechnology or IntegrationDeluxe serves as the check processor and online check reordering partner for First Savings Bank of Hegewisch, providing the Deluxe online ordering portal for customers to reorder checks. Routing number 271070814 and account number required for ordering.
• FiservcoreTechnology or IntegrationFiserv powers the bank's online and mobile banking platform including account opening, online banking, mobile banking app, bill payment services, and card management. The mobile banking app is branded as FSB of Hegewisch powered by Fiserv.
• Early Warning Services, LLC (Zelle)coreTechnology or IntegrationFirst Savings Bank of Hegewisch has partnered with Zelle to provide fast, safe, and free P2P payment services to customers. Zelle is owned by Early Warning Services, LLC and allows money transfers using U.S. mobile numbers or email addresses.
• Apple PaysupportingTechnology or IntegrationIntegration with Apple Pay digital wallet allowing customers to add their FSBH debit card and make contactless payments using Apple devices.
• Google PaysupportingTechnology or IntegrationIntegration with Google Pay (Android) digital wallet allowing customers to add their FSBH debit card and make contactless payments using Android devices.
• Samsung PaysupportingTechnology or IntegrationIntegration with Samsung Pay digital wallet allowing customers to add their FSBH debit card and make contactless payments using Samsung devices.
• Federal Trade Commission (FTC)supportingOthersThe bank provides links to FTC consumer protection resources including OnGuardOnline.gov cybersecurity guidance and How to Avoid a Scam brochure to educate customers on fraud prevention.
• Federal Deposit Insurance Corporation (FDIC)supportingOthersFDIC provides deposit insurance coverage and cybersecurity guidance for financial institution customers. The bank links to FDIC cybersecurity guide and maintains FDIC insurance for deposits.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Wintrust Community Banks: Chicago-area community banking franchise operating multiple community bank charters across the metro. Highly comparable as a multi-branch, locally-branded community bank serving similar deposit and small-business customers in overlapping southeast Chicagoland and Northwest Indiana markets, but at much greater scale.
• Lake City Bank: Indiana-based community bank with branches across northern Indiana. Overlaps with FSBH's Northwest Indiana branch network and competes for similar deposit, mortgage, and small-business customers, though at a larger regional scale.
• First Financial Bank (Indiana): Indiana-headquartered community bank with branches across Indiana and neighboring states. Comparable as a multi-branch community bank focused on retail deposits and consumer lending, with footprint overlap in Northwest Indiana.

Direct peers

• Byline Bank: Chicago-headquartered independent community bank offering checking, savings, mortgages, and small business banking across the city and suburbs. Directly comparable in product mix, geographic concentration, and community-bank positioning to FSBH, though slightly larger in footprint.
• Centier Bank: Indiana-headquartered, family-owned community bank with branches across Northwest and Central Indiana. Directly comparable as a multi-branch, privately-held community bank competing in the same Northwest Indiana geography with similar deposit and mortgage product offerings.
• Horizon Bank: Indiana-based community bank with branches across Northwest Indiana, including markets that overlap with FSBH's footprint. Comparable in scale and product mix, with similar focus on retail deposits, mortgages, and consumer lending.
• NorthSide Community Bank: Chicago-area community bank serving retail and small business customers across the metro. Comparable as a locally-focused, multi-branch community bank offering similar deposit, mortgage, and consumer loan products.

Broad incumbents

• Old National Bank: Large regional bank serving Indiana, Illinois, Kentucky, and surrounding states following its merger with First Midwest. Competes broadly with FSBH across deposit products, mortgages, and consumer lending in overlapping Illinois/Indiana markets.
• BMO Harris Bank: Major national commercial bank with deep Chicago metropolitan and Midwest branch network. Competes with FSBH across the full retail banking stack in the same southeast Chicagoland geography, with substantially larger scale and product breadth.

Emerging players

• Self-Help Federal Credit Union: Community-development credit union serving underserved and Hispanic communities in Chicago and the broader Midwest. Overlaps with FSBH in targeting Hispanic retail customers and offering accessible deposit and lending products in southeast Chicago.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 First Savings Bank of Hegewisch