Algonquin Bank & Trust

What Algonquin Bank & Trust does

Algonquin Bank & Trust is a community bank charter — operating under the legal name Crystal Lake Bank & Trust Company, N.A. — within the Wintrust Financial Corporation (NASDAQ: WTFC) holding company structure. It provides personal and business banking services through five branch locations in Algonquin, Cary, Crystal Lake (two), and McHenry, Illinois, serving individual consumers, small businesses, and commercial/corporate clients in McHenry County and the broader Chicago suburbs. The bank operates within Wintrust's network of 200+ community bank locations across greater Chicago, southern Wisconsin, west Michigan, northwestern Indiana, and southwest Florida.

Its product suite spans deposit products (Total Access Checking, Access Plus Checking, Premier Checking, Money Smart Checking, Statement Savings Advanced with 2.00% APY, 13-Month CD Special at 4.00% APY, MaxSafe money market/CD with FDIC coverage up to $4M), consumer lending (HELOCs at 6.75-7.50% APR, Everyday Loans, personal credit cards via Elan Financial Services), mortgage origination through Wintrust Mortgage, and SBA loans (Express up to $500K, 7(a) up to $5M, 504 up to $10M). The digital platform is delivered through the Wintrust Digital Banking mobile app (iOS/Android) with Zelle, mobile deposit, and remote deposit capture (i-BusinessCapturePro), backed by Trusteer fraud protection and Positive Pay/ACH Positive Pay for commercial accounts. Wealth management is provided through Wintrust Wealth Management.

Revenue is generated from net interest income on deposits and lending, fee-based services (account maintenance, ATM, wire, treasury management, merchant processing), and managed services through the wealth management affiliate. The go-to-market is relationship-banking-led, with face-to-face service, scheduled appointments with banking experts, and community engagement programs (Platinum Adventures Club for 50+, Junior Savers Club, Money Smart FDIC curriculum, community events). Differentiators include the MaxSafe multi-charter FDIC enhancement, deep local community integration, and the ability to offer the resources of a $50B+ asset holding company while maintaining local decision-making.

Name

Algonquin Bank & Trust

Legal name

Crystal Lake Bank & Trust Company, N.A.

Website

https://bankalgonquin.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

Algonquin Bank & Trust is a Wintrust Financial Corporation community bank charter serving McHenry County, Illinois with personal, small business, and commercial banking products, digital banking, SBA lending, and wealth management across five branches.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

akta.pro secondary industries

Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD), Escrow, Trust & Agency Services (escrow, paying agent, trustee) (FSABAIAI)

Keywords

• Community banking
• Personal checking
• Small business lending
• Mortgage lending
• Wealth management

Headquarters

HQ city

Algonquin

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Deposit-Taking and Lending: Core banking operations including accepting deposits (checking, savings, CDs, money market accounts) and lending (consumer mortgages, HELOCs, personal loans, business loans, SBA loans)
2. Fee-Based Services: Account maintenance fees, ATM fees, wire transfer fees, safe deposit box rentals, merchant processing services, and treasury management fees
3. Wealth Management: Asset management, investment services, private banking, and trust services offered through Wintrust Wealth Management partnerships
4. Mortgage Lending: Residential mortgage origination through Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Algonquin Bank & Trust is a community bank that accepts deposits (checking, savings, CDs, money market) and originates loans (consumer mortgages, HELOCs, personal loans, SBA loans, business and commercial lending) for individuals, small businesses, and commercial clients in northern Illinois. It delivers these products through physical branches in Algonquin, Cary, Crystal Lake, and McHenry, the Wintrust Digital Banking online and mobile platform, and dedicated relationship bankers, while offering wealth management, treasury management, merchant processing, and FDIC enhancement through the MaxSafe program.

Product overview

Algonquin Bank & Trust is a Wintrust Community Bank offering a comprehensive suite of banking products through a platform-plus-modules architecture. The core banking platform provides personal and business checking accounts (Total Access Checking, Access Plus Checking, Premier Checking, Entrepreneur Checking, Business Community Checking, Have-It-All Business Checking) alongside savings products (Statement Savings Advanced with 2.00% APY, 13-Month CD at 4.00% APY, Money Market). Specialized modules include Digital Banking via Wintrust Digital Banking app, Wintrust Mortgage for residential lending, and Wintrust Wealth Management for asset management and private banking. Small business services feature SBA loans (Express, 7(a), 504), i-BusinessBanking cash management platform, MaxSafe FDIC enhancement (up to $4M coverage), merchant processing, and treasury management. Consumer credit offerings include Home Equity Lines of Credit, Everyday Loans, and Personal Credit Cards via Elan Financial Services. Community engagement programs include the Junior Savers Club (youth) and Platinum Adventures Club (50+), supported by financial education through Money Smart classes.

Differentiator

Problem solved

Functional benefit

Brands

• Wintrust Digital Banking: Mobile and online banking platform offered by Wintrust Community Banks
• Wintrust Mortgage
• Wintrust Wealth Management
• Money Smart Checking
• Money Smart Savings
• Junior Savers Club
• Platinum Adventures Club
• MaxSafe
• Platinum Adventures

Products and services

• Total Access Checking Everyday personal checking account with $100 to open, no minimum monthly balance or maintenance fees, early direct deposit up to 2 business days early, and free nationwide ATM access through Allpoint, MoneyPass, and SUM networks. Designed for individuals seeking basic banking without monthly fees.
• Access Plus Checking Interest-bearing personal checking account with variable interest paid monthly, waived safe deposit box fee, free first order of specialty checks, reimbursed outgoing domestic wire fees, and waived fees for incoming wires and money orders. $10 monthly fee waived with $2,500 average daily balance or $25,000 combined relationship balance.
• Premier Checking Premium personal checking account with tiered variable interest, 0.15% rate bonus on Statement Savings Advanced accounts, waived safe deposit box and check printing fees, stop payment fee waivers, and up to 5 domestic wire reimbursements. $25 monthly fee waived with $10,000 average daily balance or $75,000 combined relationship balance.
• Statement Savings Advanced Interest-bearing personal savings account with 2.00% APY promotional rate (with qualifying activities). No minimum to open, $200 daily minimum balance required to avoid $5 monthly maintenance fee. New money only.
• 13-Month CD Special Fixed-rate certificate of deposit with 4.00% APY as of June 2026, $1,000 minimum to open, automatically renews at standard rates upon maturity.
• Money Smart Checking Credit-building personal checking account with $10 to open, no minimum balance, no maintenance fees, no overdraft fees, debit card with up to 6 free out-of-network ATM reimbursements per statement cycle, and optional Dollar-A-Day Savings Service.
• Money Smart Savings Interest-bearing personal savings account paired with Money Smart Checking, linked to debit card for free out-of-network ATM reimbursements.
• Everyday Loan Fixed-rate credit-building personal loan up to $5,000 with quick approval decision and rates lower than most credit cards. Terms available at 12 and 24 months at Prime + 5.00% (11.75% APR as of 12/15/25).
• Home Equity Line of Credit (HELOC) Variable-rate revolving credit line secured by home equity with 10-year draw period followed by 20-year repayment period. Rates range from 6.75% to 7.50% APR depending on loan amount, with fixed-rate options available and $75 annual fee waived first year.
• Personal Credit Cards Personal credit cards issued by Elan Financial Services under Visa license, featuring zero fraud liability, 24/7 cardmember service, mobile purchasing capability, and options for low rates, cash back, rewards, and credit building.
• Money Smart CD Loan Secured personal loan product where borrowed funds open a Certificate of Deposit of equal value, with minimum loan amount of $500. Designed for credit-building borrowers.
• Entrepreneur Checking Business checking account for startups and entrepreneurs with no minimum balance or maintenance fees, 150 free monthly transactions, free i-BusinessBanking profile with mobile deposit, and designated business banker support.
• Business Community Checking Established business checking account with no maintenance fee at $2,500 minimum balance, 250 free monthly transactions, and free i-BusinessBanking with unlimited non-token users and 2 free token users.
• Have-It-All Business Checking Premium business checking account for larger enterprises with $20,000 minimum balance to waive $30 monthly fee and 400 free monthly transactions.
• MaxSafe Deposit insurance program that spreads deposits across 16 Wintrust community bank charters to provide FDIC coverage up to $4 million per accountholder. Available as CD or Money Market with $1,000 minimum.
• i-BusinessBanking Business online and mobile banking platform with remote deposit capture (i-BusinessCapturePro), ACH origination, wire transfers, and fraud prevention tools including Positive Pay, Reverse Positive Pay, and ACH Positive Pay.
• Merchant Processing Payment processing service enabling businesses to accept debit and credit card transactions.
• SBA Express Loan Small Business Administration Express loan up to $500,000 for expansions, acquisitions, cash flow management with expedited turnaround and revolving lines of credit available.
• SBA 7(a) Loan

Quantifiable outcome

• Early direct deposit up to 2 business days early with Total Access Checking
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• TrusteercoreTechnology or IntegrationPartnership with Trusteer provides free fraud protection software to bank customers, protecting against malware infections and phishing attacks through their security platform.
• Elan Financial ServicescoreTechnology or IntegrationCredit card services partnership where Elan Financial Services provides credit card issuance and processing under Visa license. The creditor and issuer of Wintrust credit cards is Elan Financial Services.
• Wintrust Mortgage (Barrington Bank & Trust Company, N.A.)coreTechnology or IntegrationResidential mortgage lending provided through Wintrust Mortgage, a division of Barrington Bank & Trust Company, N.A. Wintrust Mortgage operates as an affiliate offering mortgage products across Wintrust Community Banks.
• Wintrust Wealth ManagementcoreStrategic or Co-development PartnerWealth management services including asset management, investments, private banking, and trust services offered through Wintrust Wealth Management, an integrated division serving Wintrust Community Bank customers.
• NachaminorOthersACH Network governance organization that Wintrust participates in for direct deposits and direct payments. The bank helps customers understand ACH payment requirements and rule changes.
• FDIC (Money Smart Program)minorStrategic or Co-development PartnerFinancial education curriculum provided by the FDIC through the Money Smart program, designed for consumers, young adults, and small businesses to improve financial literacy.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Heartland Financial USA / Heartland Bank: Multi-chapter community bank holding company operating banks across the Midwest, including Illinois. Comparable as a community-banking consolidator leveraging back-office scale across multiple local charters with similar product offerings (deposits, lending, SBA, treasury).
• Old National Bank: Major regional bank with significant Illinois presence after its acquisition of First Midwest. Comparable as a regional competitor operating across personal, business, and commercial banking in overlapping northern Illinois / Midwest markets.
• Wintrust Financial Corporation: Public parent company (NASDAQ: WTFC) operating the network of community bank charters that includes Algonquin Bank & Trust. Comparable as the strategic operating parent whose platform, products, and back-office functions are leveraged across the entire community bank network.

Direct peers

• Barrington Bank & Trust: Sister Wintrust community bank charter operating in the northern Chicago suburbs. Identical business model, products, and shared back-office — provides a structural benchmark for the Algonquin charter's revenue and cost dynamics.
• Crystal Lake Bank & Trust: Sister charter within the Wintrust community bank network providing the same products and operating model in Crystal Lake, Illinois. Operates under the Crystal Lake Bank & Trust Company, N.A. legal entity referenced as the bank's official legal name in the source data.
• Libertyville Bank & Trust: Sister Wintrust community bank charter serving Libertyville and surrounding Lake County, Illinois suburbs. Identical operating model and product suite — a structural peer for benchmarking performance and growth.
• First Bank of Highland Park: Independent community bank in Highland Park, Illinois serving the northern Chicago suburbs. Direct comparable as a sub-$5B-asset community bank operating in the same competitive market with a relationship-based, local-service positioning.
• Inland Bank and Trust: Chicago suburb community bank focused on serving local businesses and consumers with personal banking, commercial lending, and treasury management. Direct comparable as a Chicago-area community bank targeting similar customer segments.
• Busey Bank: Illinois-headquartered community bank serving individuals, businesses, and wealth management clients across Illinois and adjacent states. Comparable in regional footprint, community-bank positioning, and breadth of personal/business/commercial offerings.
• Byline Bank: Chicago-based community bank providing personal, small business, and commercial banking with a strong focus on local service. Direct comparable as a community bank in the greater Chicago metro area serving similar customer segments (SMB, individuals, commercial) with overlapping product suites.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Algonquin Bank & Trust