Belmont Bank & Trust

What Belmont Bank & Trust does

Belmont Bank & Trust Company is a privately held community bank headquartered at 8250 W. Belmont Avenue on the northwest side of Chicago, Illinois, founded in 2006 by a group of local investors. It operates as the banking subsidiary of Belmont Financial Group, Inc. and is FDIC-insured. The bank serves small and medium-sized businesses as its primary segment, with individual consumers as a secondary segment, through a network that has grown from a single Chicago branch to multiple Chicago locations plus a Coral Gables, Florida office opened in 2024. It was named one of America's Best Regional Banks and Credit Unions for 2024 by Newsweek and has been ranked among Crain's Top 25 Largest Banks in Chicago.

The bank's product portfolio spans personal banking (Kasasa-branded reward checking, Belmont Checking, NOW accounts, Statement Savings, Money Market, Kasasa Saver, HSA, CDs, CDARS/ICS, and IRAs) and business banking (Small Business Checking, full-service Business Checking, IOLTA, Business Statement Savings, and Business Money Market). Lending products include business lines of credit, business and equipment term loans, commercial and industrial loans, commercial real estate loans, business credit cards, HELOCs, and personal credit cards, with Treasury Management services (lockbox, ACH, Positive Pay) for SMB cash management. The technology stack is delivered through Fiserv-powered iOS and Android mobile banking apps, a full online banking platform, Zelle for peer-to-peer payments, Apple Pay, Credit Sense for credit monitoring, Kasasa Protect for identity protection, and surcharge-free ATM access via MoneyPass, Allpoint, and STAR networks. AudioEye certifies the website to WCAG 2.2 Level AA. There is no public API and no disclosed AI/ML capabilities.

Revenue is generated through traditional community-bank mechanics: net interest income on loans (CRE, C&I, equipment, consumer, HELOC) and securities, deposit account service fees (e.g., $6.95 Belmont Checking, $1.50 foreign ATM), treasury management fees, and credit card interchange plus interest. The go-to-market combines a sales-led, relationship-based motion targeting local SMBs with product-led digital account opening for Illinois residents in qualifying counties. Distribution is omnichannel—physical branches supplemented by digital banking, mobile apps, and phone banking—and supported by community-focused marketing and financial education content.

Name

Belmont Bank & Trust

Legal name

Belmont Bank & Trust Company

Website

https://belmontbank.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Belmont Bank & Trust is a privately held Chicago community bank, founded in 2006 and owned by Belmont Financial Group, Inc., serving small and medium-sized businesses and consumers across Chicago and South Florida with deposit, lending, treasury management, and digital banking products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Credit Card Issuing (52221)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• Small business lending
• Personal checking accounts
• Commercial real estate loans
• Treasury management

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices6 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. Interest Income: Traditional bank revenue from interest earned on loans (business loans, commercial real estate, personal loans, HELOC) and securities.
2. Deposit Account Fees: Monthly service charges (e.g., $6.95 for Belmont Checking, waivable with minimum balances), foreign ATM fees ($1.50), and other account-related fees.
3. Treasury Management Services: Cash management services for business customers including lockbox services, ACH, Positive Pay, and online banking.
4. Credit Card Income: Revenue from business and personal credit cards including interchange fees and interest.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Belmont Bank & Trust is a community bank headquartered in Chicago offering personal and business banking products including checking accounts (Kasasa Cash, Kasasa Cash Back, Belmont Checking, business checking), savings products (statement savings, money market, HSA, CDs, IRAs), lending products (business lines of credit, commercial real estate loans, equipment loans, HELOCs, credit cards), and treasury management services. The bank serves small and medium-sized businesses and individual consumers through multiple Chicago-area branches and a Coral Gables, Florida location.

Product overview

Belmont Bank & Trust offers a community banking platform providing personal and business banking products and services. The personal banking lineup includes multiple checking options (Kasasa Cash for high interest, Kasasa Cash Back for debit card rewards, and Belmont Checking for essentials) and savings products (Kasasa Saver, Statement Savings, Money Market, HSA, CDs, CDARS/ICS, and IRAs). Business banking includes Small Business Checking, Business Checking, and IOLTA accounts plus Business Statement Savings and Business Money Market. The bank provides commercial and personal lending products including Business Lines of Credit, Equipment Loans, Commercial Real Estate Loans, HELOCs, and credit cards. Treasury Management services offer business-focused features like ACH, lockbox, and Positive Pay. Digital Banking is the core technology platform enabling online and mobile banking with features like mobile deposit. Kasasa Protect adds identity protection and Credit Sense provides free credit monitoring. The ecosystem is integrated with Zelle for P2P payments, Apple Pay for mobile payments, and surcharge-free ATM networks (MoneyPass, Allpoint, STAR).

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Checking Free personal checking account that pays 1.50% APY on balances up to $50,000 with refunds on ATM withdrawal fees nationwide for qualifying customers.
• Kasasa Cash Back Checking Free personal checking account that pays 4.00% cash back on debit card purchases up to $200 monthly plus nationwide ATM fee refunds.
• Belmont Checking Standard personal checking account with unlimited check writing, free check images, and digital banking services. $6.95 monthly fee waivable with qualifying balances or direct deposit.
• NOW Accounts Interest-bearing personal checking account paying competitive monthly compounded interest, with a $10 monthly service charge that can be waived.
• Kasasa Saver Free savings account earning 1.00% APY on balances up to $100,000 when linked to a Kasasa Cash or Kasasa Cash Back checking account, automatically building savings from rewards.
• Statement Savings Basic personal savings account with competitive interest rates and no monthly maintenance fees.
• Money Market Personal money market savings account offering higher interest rates with limited check-writing privileges.
• Health Savings Account (HSA) Tax-advantaged savings account for individuals with high-deductible health plans to save for qualified medical expenses.
• Certificates of Deposit (CDs) Term deposit accounts with fixed interest rates and various maturity terms for personal savings growth.
• CDARS & ICS Certificate of Deposit Account Registry Service and Insured Cash Sweep services providing FDIC insurance coverage beyond the standard $250,000 limit.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional and Roth IRA options.
• Small Business Checking Account Business checking account offering 200 items per cycle with no minimum balance required, designed for small business banking needs.
• Business Checking Account Full-service business checking account for businesses with higher transaction volumes and cash management needs.
• Interest on Lawyer Trust Account (IOLTA) Specialty trust account for lawyers that earns interest used to fund legal aid programs.
• Business Statement Savings Business savings account with competitive interest rates and statement delivery.
• Business Money Market Business savings account with tiered interest rates and limited check-writing capabilities.
• Business Line of Credit Revolving credit facility for businesses to finance ongoing operational needs as they arise.
• Business & Equipment Term Loans Fixed-term loans for business acquisitions, equipment purchases, and other capital investments.
• Commercial & Industrial Loans Loans for commercial and industrial purposes including working capital, inventory financing, and business expansion.
• Commercial Real Estate Loans Financing for owner-occupied and investment commercial real estate properties.
• Business Credit Cards Credit cards designed for business spending with expense management features.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for personal expenses, home improvements, or debt consolidation.
• Personal Credit Cards Personal credit card products for consumer spending needs.
• Treasury Management Suite of business banking services including online banking, mobile banking, remote deposit, ACH services, lockbox services, and Positive Pay fraud protection.

Quantifiable outcome

• Up to $8 cash back per month with Kasasa Cash Back checking
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• KasasacoreTechnology or IntegrationWhite-label provider of Kasasa-branded checking and savings products including Kasasa Cash, Kasasa Cash Back, Kasasa Saver, and Kasasa Protect. Provides reward checking account technology platform.
• ZellecoreTechnology or IntegrationPartnership with Zelle (Early Warning Services) to provide fast, secure person-to-person payment capabilities within online and mobile banking platform.
• DeluxeminorChannel Partner/ Reseller/ DistributorCheck printing services partner through Deluxe Corporation for personal check reordering via the website.
• FiservcoreTechnology or IntegrationMobile banking app technology provider powering Belmont Bank & Trust's iOS and Android mobile banking applications.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Byline Bank: Chicago-headquartered community bank serving small businesses and consumers with a similar product set including commercial lending, treasury management, and reward checking — directly comparable in geography, customer profile, and product breadth.
• Pan American Bank & Trust: Chicago-based community bank focused on small business and consumer banking; Belmont's own Treasury Management AVP began her career at Pan American Bank & Trust, reinforcing direct comparability in mission, product set, and Chicago SMB customer segment.
• Lakeside Bank: Independently owned Chicago community bank offering personal and business banking products to local customers — directly comparable in scale, ownership structure, and Chicago-focused community banking model.
• Old Second National Bank: Illinois community bank headquartered in Aurora with similar SMB and consumer focus, multi-branch presence in Chicagoland, and full-service commercial banking capabilities — directly comparable in business model and geographic footprint.
• Gold Coast Bank: Chicago community bank with comparable commercial banking focus; Belmont's Regional President Santiago Martinez previously served as President of Commercial Banking at Gold Coast, underscoring direct comparability in commercial banking operations and Chicago market.
• First National Bank of Morton Grove (now part of Wintrust): Former standalone Chicago suburb community bank; several Belmont executives (CEO McCarty, COO Peshek) previously held senior roles there, making it a useful historical peer for Belmont's pre-acquisition trajectory and operating model.
• Itasca Bank & Trust: Suburban Chicago community bank with comparable deposit and lending products targeting local businesses and consumers — directly comparable in scale, customer focus, and community-bank operating model.

Emerging players

• Live Oak Bank: Digital-first community bank targeting small businesses with streamlined online lending and deposit products — relevant emerging competitor illustrating the direction community banking is moving and the long-term threat to traditional branch-based community banks like Belmont.

Broad incumbents

• Wintrust Community Banks (holding company: Wintrust Financial): Chicago-area holding company operating a network of community banks (Town Bank, Northbrook Bank & Trust, Libertyville Bank & Trust, etc.) targeting similar SMB and consumer segments with relationship-based banking — the most direct scale comparable for Belmont's multi-branch community banking model.

Regional players

• US Century Bank: South Florida community bank where Belmont's Coral Gables VP previously worked; relevant geographic peer as Belmont expands into the same South Florida market and competes for similar private-client and small-business relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/belmontbank
• Facebookfacebook.com/Belmont-Bank-Trust-91622846002/?ref=search
• LinkedInlinkedin.com/company/belmont-bank-trust
• Instagraminstagram.com/belmontbanktrust

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds1 record

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 Belmont Bank & Trust