State Bank of the Lakes
State Bank of the Lakes, N.A. is a Wintrust Community Bank serving personal, small business, and commercial customers across northern Chicago suburbs and southern Wisconsin through 8 branch locations, offering deposit products, lending, and wealth management since 1926.
- Company typePrivate
- Founded1991
- HeadquartersAntioch, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What State Bank of the Lakes does
State Bank of the Lakes, N.A. is a national banking association operating as a community bank charter within the Wintrust Financial Corporation (NASDAQ: WTFC) network, headquartered in Antioch, Illinois. The bank serves personal, small business, and commercial/middle-market customers across the northern Chicago suburbs and southern Wisconsin through 8 branch locations in Antioch, Genoa City, Grayslake, Kenosha (3 branches), Lake Villa, Lindenhurst, Round Lake Beach, and Spring Grove. The institution has operated for over 100 years since its founding in 1926, with 51-100 employees, and is led by President and CEO Mike Deney.
The product portfolio spans personal banking (Total Access Checking, Access Plus Checking, Premier Checking, Statement Savings Advanced, CDs, HELOCs, money smart accounts, mortgages via Wintrust Mortgage), small business banking (Entrepreneur Checking, Business Community Checking, Have-It-All Business Checking, SBA loans, cash management, MaxSafe FDIC enhancement), and commercial banking (asset-based lending, commercial lending, capital markets, treasury management). The technology platform is built on the Wintrust Digital Banking mobile and online system, integrated with Zelle for P2P payments, Elan Financial Services for credit card issuance, Trusteer for fraud protection, and ATM networks (Allpoint, MoneyPass, SUM). The MaxSafe program provides enhanced FDIC coverage up to $4 million per accountholder by spreading deposits across 16 Wintrust community bank charters.
Revenue is generated through interest income on loans (mortgages, HELOCs, personal loans, commercial financing), fee income (maintenance fees, transaction fees, wire transfers, ATM fees), mortgage origination fees via Wintrust Mortgage, wealth management services, and SBA loan fees. The bank employs a community-led go-to-market strategy with local decision-making, relationship pricing, and community engagement through the Platinum Adventures Club (50+ customers) and Junior Savers Club (under 22). The bank is not independently publicly traded and does not disclose standalone financials, operating as a wholly-owned subsidiary of Wintrust Financial Corporation.
State Bank of the Lakes firmographics
Firmographics- Name
- State Bank of the Lakes
- Legal name
- State Bank of The Lakes, N.A.
- Website
- https://sbotl.com
- Company type
- Private
- Founded year
- 1991
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- State Bank of the Lakes, N.A. is a Wintrust Community Bank serving personal, small business, and commercial customers across northern Chicago suburbs and southern Wisconsin through 8 branch locations, offering deposit products, lending, and wealth management since 1926.
- Ownership category
- akta.pro rank
State Bank of the Lakes industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Real Estate (Commercial Property, REITs) (FSABACAH), Onshore Private Banking (Domestic HNW/UHNW) (FSAAABAA)
Keywords
Where State Bank of the Lakes is headquartered
LocationHeadquarters
- HQ city
- Antioch
- HQ country
- United States
- HQ region
- North America
Offices8 records
Markets served
State Bank of the Lakes business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income: Revenue from interest earned on loans including mortgages, HELOCs, personal loans, business loans, and commercial financing. Core banking revenue stream from spread between loan interest rates and deposit interest paid.
- Fee Income: Monthly maintenance fees, transaction fees, wire transfer fees, ATM fees, safe deposit box rentals, and other service charges from deposit accounts.
- Mortgage Banking: Revenue from mortgage originations through Wintrust Mortgage division, including loan origination fees and mortgage servicing.
- Wealth Management: Revenue from investment management, asset management, trust services, and private banking offered through Wintrust Wealth Management.
- SBA Loan Fees: Fees from SBA Express, SBA 7(a), and SBA 504 loans for small business customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Total Access Checking - Basic everyday banking with early direct deposit access |
| Subscription | Monthly | Access Plus Checking - Enhanced benefits with interest earned |
| Subscription | Monthly | Premier Checking - Premium tier with highest benefits and relationship rate bonus |
| Subscription | Monthly | Money Smart Checking - Entry-level credit building account |
| Subscription | Monthly | Statement Savings Advanced - High-yield savings with qualifying activities |
| Subscription | Annual | 13-Month CD Special |
| Usage-based | Pay-as-you-go | Home Equity Line of Credit - Variable rate HELOC |
| Subscription | Monthly | Everyday Loan - Fixed-rate personal loan for credit building |
| Subscription | Monthly | Entrepreneur Checking - For startups with basic needs |
| Subscription | Monthly | Business Community Checking - For established businesses |
| Subscription | Monthly | Have-It-All Business Checking - For larger enterprises |
Go-to-market motion2 records
Distribution channels9 records
Marketing channels8 records
State Bank of the Lakes product offering
Product offeringCore offering
State Bank of the Lakes is a community bank providing deposit products (checking, savings, money market, CDs), consumer lending (mortgages, HELOCs, personal loans, credit cards), small business banking (SBA loans, business checking, cash management), and commercial banking (asset-based lending, treasury management) to individuals, small businesses, and middle-market companies in northern Illinois and southern Wisconsin. Services are delivered through eight physical branches and the Wintrust Digital Banking online and mobile platform, supported by wealth management, mortgage lending, and FDIC insurance enhancement (MaxSafe) programs.
Product overview
State Bank of the Lakes is a Wintrust Community Bank offering a comprehensive banking platform across personal, small business, and commercial segments. The core banking platform (Wintrust Digital Banking) serves as the digital hub, supported by deposit products (Total Access Checking, Access Plus Checking, Premier Checking, Statement Savings Advanced, Money Market, CDs) and lending solutions (HELOC, Mortgages via Wintrust Mortgage, SBA loans, and Everyday Loans). Small business services include Entrepreneur Checking, Business Community Checking, Have-It-All Business Checking, MaxSafe FDIC enhancement, Cash Management with i-BusinessBanking and i-BusinessCapturePro, and SBA lending programs. Commercial offerings encompass Asset-Based Lending through Wintrust Business Credit. Loyalty programs include Platinum Adventures Club (50+ customers) and Junior Savers Club (under 22). The bank also provides Wealth Management services, Community Banking Perks (coin counting, safe deposit boxes, currency exchange), and fraud prevention tools. All services integrate with third-party networks including Zelle (P2P payments), Visa/Elan Financial Services (credit cards), Trusteer (fraud protection), and ATM networks (Allpoint, MoneyPass, SUM).
Differentiator
Problem solved
Functional benefit
Brands
- Wintrust Mortgage: Residential mortgage lending division of Wintrust, provided through Barrington Bank & Trust Company, N.A., a Wintrust Community Bank.
- Platinum Adventures Club
- Junior Savers Club
- Money Smart Checking
- MaxSafe
Products and services
- Wintrust Digital Banking
- Total Access Checking
- Access Plus Checking
- Premier Checking
- Statement Savings Advanced
- 13-Month CD Special
- Home Equity Line of Credit (HELOC)
- Money Smart Checking
- Money Smart Savings
- Everyday Loan
- Wintrust Mortgage
- Wealth Management
- Platinum Adventures Club
- Junior Savers Club
- Entrepreneur Checking
- Business Community Checking
- Have-It-All Business Checking
- MaxSafe
- Cash Management
- i-BusinessBanking
- SBA Express Loan
- SBA 7(a) Loan
- SBA 504 Loan
- Easy Access Line of Credit
- Business Credit Cards
- Asset-Based Lending
- Positive Pay Fraud Prevention
- Money Smart Financial Education
Quantifiable outcome
- FDIC coverage increased from $250,000 to $4 million per accountholder through MaxSafe program
- +3 more outcomes
Companies that use State Bank of the Lakes
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles3 records
State Bank of the Lakes technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature7 records
State Bank of the Lakes partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- TrusteercoreTrusteer partnership provides free fraud protection software to commercial banking customers, protecting against malware infections and phishing attacks on business accounts.
- Wintrust Financial CorporationcoreState Bank of the Lakes is a wholly-owned subsidiary of Wintrust Financial Corporation, which owns 15 other community bank charters across multiple states. The parent company provides shared technology platforms, treasury management services, wealth management, mortgage banking, and operational support.
- Wintrust Mortgage (division of Barrington Bank & Trust Company, N.A.)coreWintrust Mortgage is an affiliated division providing residential mortgage lending services to State Bank of the Lakes customers. Offers relationship pricing discounts for customers with Wintrust Community Bank deposit accounts.
- Wintrust Wealth ManagementcoreWintrust Wealth Management provides investment management, asset management, trust and estate services, and private banking to State Bank of the Lakes customers. Relationship pricing rewards customers with aggregate Wintrust account balances.
- U.S. Small Business Administration (SBA)coreSBA preferred lender offering SBA Express (up to $500,000), SBA 7(a) loans (up to $5 million), and SBA 504 loans (up to $10 million) for small business customers.
- NachaminorNacha governs the ACH Network for direct deposits and direct payments. Wintrust implements ACH services including Same Day ACH and fraud monitoring in compliance with Nacha rules.
- Allpoint, MoneyPass, SUM NetworksminorATM network partnerships providing surcharge-free ATM access to Wintrust customers at thousands of locations nationwide.
- Elan Financial ServicescoreElan Financial Services is the creditor and issuer of credit cards offered through Wintrust Community Banks, providing Visa credit card products to personal and business customers.
- Zelle (Early Warning Services, LLC)coreZelle is integrated into Wintrust Digital Banking for fast, safe peer-to-peer money transfers between enrolled consumers at participating banks.
- FDIC (Federal Deposit Insurance Corporation)coreFDIC provides deposit insurance coverage up to $250,000 per depositor. Wintrust's MaxSafe program leverages multiple bank charters to extend coverage up to $4 million per accountholder.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
State Bank of the Lakes competitors and assessment
Company assessmentDirect peers
- Byline Bancorp: A Chicago-based community bank holding company serving small businesses and middle-market companies with comparable deposit products, SBA lending, and commercial banking services in the same metropolitan market.
- Barrington Bank & Trust Company: A Wintrust Community Bank charter serving the northwest Chicago suburbs with comparable personal, small business, and wealth management offerings; direct sister charter within the same parent holding company.
- First Bank of Highland Park: An independent Lake County, Illinois community bank with comparable deposit, mortgage, and small business lending offerings serving north shore Chicago suburbs adjacent to SBOTL's footprint.
- Libertyville Bank & Trust: Another Wintrust Community Bank charter in Lake County, Illinois with near-identical product suite, branch footprint, and target customer segments as State Bank of the Lakes.
Broad incumbents
- BMO Harris Bank: A major Chicago-based regional/national bank offering full-service personal, small business, and commercial banking with significant branch density in the same northern Illinois markets where SBOTL operates.
- Old National Bank: A large Midwestern regional bank holding company (formed via First Midwest/AnchorBank mergers) operating community banks across Illinois, Indiana, and surrounding states with overlapping personal and commercial banking products.
- Northern Trust: A Chicago-headquartered wealth management and commercial banking powerhouse that competes for HNW and commercial clients in the same Lake County and Kenosha markets as SBOTL.
- JPMorgan Chase (Chase Bank): The largest U.S. bank by assets with the most extensive branch and ATM network in northern Illinois, offering direct competition across consumer deposits, mortgages, and commercial banking segments.
Emerging players
- Heartland Financial (HTLF): A multi-state community bank holding company operating community banks across the Midwest and Southwest with comparable commercial lending and SBA programs targeting middle-market clients.
Regional players
- Consumers Cooperative Credit Union: A Wisconsin-based credit union serving Kenosha and southeast Wisconsin with consumer deposit and lending products that compete with SBOTL for retail customers in shared geography.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
State Bank of the Lakes social profiles
Digital presenceState Bank of the Lakes financial estimates
Financial estimateRevenue estimate
Valuation estimate
State Bank of the Lakes leadership team
Management profileNumber of profiles
Profiles18 records
State Bank of the Lakes funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
State Bank of the Lakes M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about State Bank of the Lakes
What does State Bank of the Lakes do?
State Bank of the Lakes is a community bank providing deposit products (checking, savings, money market, CDs), consumer lending (mortgages, HELOCs, personal loans, credit cards), small business banking (SBA loans, business checking, cash management), and commercial banking (asset-based lending, treasury management) to individuals, small businesses, and middle-market companies in northern Illinois and southern Wisconsin. Services are delivered through eight physical branches and the Wintrust Digital Banking online and mobile platform, supported by wealth management, mortgage lending, and FDIC insurance enhancement (MaxSafe) programs.
Is State Bank of the Lakes a public or private company?
State Bank of the Lakes is a private company. It is classified as corporate owned and is currently operating.
When was State Bank of the Lakes founded?
State Bank of the Lakes was founded in 1991. It employs 51 to 100 people.
Where is State Bank of the Lakes based?
State Bank of the Lakes is headquartered in Antioch, United States, in the North America region.
How does State Bank of the Lakes make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are fee Income, mortgage Banking, wealth Management and SBA Loan Fees.
Who are State Bank of the Lakes's main competitors?
Direct peers on record are Byline Bancorp, Barrington Bank & Trust Company, First Bank of Highland Park and Libertyville Bank & Trust. Broad incumbents are BMO Harris Bank, Old National Bank, Northern Trust and JPMorgan Chase (Chase Bank). Heartland Financial (HTLF) is listed as an emerging player. Consumers Cooperative Credit Union is listed as a regional player.
Does State Bank of the Lakes have an API?
No public API is recorded for State Bank of the Lakes.
What industry is State Bank of the Lakes in?
State Bank of the Lakes's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs). Its NAICS code is 52211 and its SIC code is 6021.