First Bank Chicago
First Bank Chicago is a privately held, family-owned community bank founded in 1955, serving individuals, businesses, nonprofits, and high-net-worth clients across the Chicago metro through four branches and Fiserv-powered digital banking, with specialty lending in franchise, professional services, and equipment lease finance.
- Company typePrivate
- Founded1955
- HeadquartersNorthbrook, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What First Bank Chicago does
First Bank Chicago is a privately held, family-owned community bank founded in 1955 and headquartered in Highland Park, Illinois, with consistent Ephraim family ownership since 1980 and operating as an affiliate of First Bank Chicago Corp. The bank serves individuals, small and mid-sized businesses, middle-market and large corporate clients, nonprofit organizations, franchise operators, professional practices, and high-net-worth individuals across the Chicago metropolitan area. Distribution is through four physical branches (Highland Park, Northbrook, Skokie, and a Westchester loan production office) supplemented by digital channels: Fiserv-powered online and mobile banking for personal and business customers, Zelle, Bill Pay, telebanking, Microsoft Teams virtual appointments, and the Fundica AI-powered funding search tool. The bank holds FDIC insurance, CRA compliance under both federal and Illinois statutes, BBB A+ accreditation, and the AARP BankSafe Trained Seal.
The product portfolio spans consumer deposit accounts (commercial checking tiers, money market, savings), a diversified lending book covering business, commercial real estate, commercial and industrial, franchise finance, professional services lending, and a Lease Finance Group that has cumulatively delivered over $5 billion in equipment leasing solutions since 1987 across technology, medical, and manufacturing verticals for clients with revenues exceeding $250 million. Treasury Management provides ACH, wire transfers, remote deposit capture, positive pay fraud protection, lockbox, sweep, and merchant services. The bank is staffed by 51-100 employees, was named the #1 best bank to work for in the United States by American Banker in 2024, and has been recognized by Crain's Chicago Business as one of Chicago's 100 Best Places to Work for eight consecutive years; it ranks #15 among Chicago's largest banks and is among the top 5 largest privately held banks in the city.
Revenue is generated primarily through net interest income from the loan portfolio, augmented by deposit account fees, treasury management transaction fees, electronic banking services, and private banking fees for HNW clients and family offices. Go-to-market is relationship-led across five divisions (Consumer, Business, Commercial, Private Banking, Treasury Management), supported by community outreach, financial literacy programs including the Junior Banking Ambassador initiative since 2011, and direct digital engagement. The bank emphasizes local in-house decision-making, banker tenure of 20+ years from money-center backgrounds, and nonprofit board service as core operating principles.
First Bank Chicago firmographics
Firmographics- Name
- First Bank Chicago
- Legal name
- First Bank Chicago
- Website
- https://firstbankchicago.com
- Company type
- Private
- Founded year
- 1955
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First Bank Chicago is a privately held, family-owned community bank founded in 1955, serving individuals, businesses, nonprofits, and high-net-worth clients across the Chicago metro through four branches and Fiserv-powered digital banking, with specialty lending in franchise, professional services, and equipment lease finance.
- Ownership category
- akta.pro rank
First Bank Chicago industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Offices of Bank Holding Companies (551111)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Digital Banking & Neobank Platforms (BPAMAFAD)
Keywords
Where First Bank Chicago is headquartered
LocationHeadquarters
- HQ city
- Northbrook
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
First Bank Chicago business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income from Lending: The primary revenue driver is interest income generated from the loan portfolio, including commercial real estate loans, commercial and industrial loans, business loans, personal loans, franchise financing, professional services lending, and lease financing. The bank serves businesses from sole proprietors to large corporate clients with revenues exceeding $250 million.
- Deposit Account Fees and Services: Revenue from business and personal deposit accounts including commercial checking, community business checking, money market accounts, and nonprofit checking. Earnings credit and various account maintenance services.
- Treasury Management and Cash Management Fees: Fees for treasury solutions including ACH processing, wire transfers, remote deposit capture, lockbox services, merchant services, and commercial credit cards. Services designed for businesses and nonprofit organizations to optimize cash flow.
- Lease Finance: Equipment lease financing with maturities typically 1-5 years, deal sizes from $100,000 to $30 million. Established in 1987 with over $5 billion in leasing solutions delivered. Specialized in technology, medical, and manufacturing equipment.
- Electronic Banking Services: Revenue from online banking, mobile banking, bill pay services, Zelle peer-to-peer transfers, and account alert services. Includes commercial online banking and mobile banking platforms.
- Private Banking Services: Managing Director and advisors provide private banking services to family offices, business owners, industry professionals, and high-net-worth individuals with deposit and liquidity solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Commercial Checking Account - $100 minimum to open with earnings credit and business online banking |
| Subscription | Monthly | Community Business Checking - $100 minimum with no minimum balance and up to 100 free items |
| Subscription | Monthly | Advanced Business Checking - $100 minimum with $3,500 average balance requirement and up to 350 free items |
| Freemium | Monthly | Community Partners Non-Profit Checking - No minimum deposit, interest-bearing, no monthly fees |
| Subscription | Monthly | Preferred Business Money Market Account - $5,000 minimum deposit with tiered variable rates |
| Transaction based/ take rate | Pay-as-you-go | Lease Finance - Deal sizes from $100,000 to $30 million, maturities typically 1-5 years |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels7 records
First Bank Chicago product offering
Product offeringCore offering
First Bank Chicago is a privately held community bank providing personal banking, business banking, commercial banking, private banking, treasury management, and equipment lease financing services. It offers deposit accounts (checking, savings, money market), consumer and commercial loans, specialized lending (franchise finance, professional services, commercial real estate, commercial & industrial), treasury management solutions, and digital banking through Fiserv-powered online and mobile platforms across four Chicago-area locations.
Product overview
First Bank Chicago operates as a privately held community bank offering a unified banking platform with integrated modules across personal, business, commercial, and private banking segments. Core deposit products include multiple checking and savings account tiers for consumers and businesses, complemented by specialized lending divisions covering business, commercial real estate, franchise, professional services, and lease financing ($5B+ delivered since 1987). Treasury Management Solutions provide integrated cash management including ACH, wire transfers, deposit capture, and fraud protection. Digital banking modules (Online Banking, Mobile Banking with app, Bill Pay, Zelle) operate as integrated add-ons within the core platform. Supplementary services include ATM/debit cards with digital wallet support, account alerts, virtual appointments, and community-focused financial literacy programs. The product portfolio is managed as a single integrated bank with divisional specializations rather than standalone product lines.
Differentiator
Problem solved
Functional benefit
Products and services
- Commercial Checking Account Business deposit account with earnings credit applied to balance, business online banking included, and $100 minimum to open. Designed for business clients requiring standard commercial banking services.
- Community Business Checking Account Business checking account with no minimum balance requirement, up to 100 free items per month ($1.00 per additional item), and $100 minimum deposit to open. Targeted at small businesses with lower transaction volumes.
- Advanced Business Checking Business checking account requiring $3,500 average collected balance to avoid fees, with up to 350 free items per month and $100 minimum deposit to open. Designed for higher-volume businesses with more transaction activity.
- Community Partners Non-Profit Checking Account Interest-bearing checking account designed for eligible 501(c)(3) nonprofit organizations with low transaction volumes. No minimum deposit required, no monthly fees, and earns variable interest rates paid monthly.
- Business Advantage Account Business operating account that earns interest monthly with no minimum balance but requires an eligible operating account to be maintained. Designed for businesses seeking interest-bearing deposit functionality.
- Preferred Business Money Market Account Business money market account with $5,000 minimum deposit to open, tiered variable interest rates, and free cashier's checks and money orders. Targeted at businesses seeking yield on surplus funds.
- Business Lending Comprehensive business financing for business owners, professionals, and non-profit organizations since 1955. Includes term loans, SBA lending, accounts receivable and inventory financing, and equipment/machinery loans.
- Professional Services Lending Specialized lending for doctors, attorneys, and other professional fields. Products include working capital lines, equipment financing, real estate and construction financing, term financing, SBA 504b financing, and letters of credit.
- Franchise Finance Franchise-specific financing supporting store acquisitions, real estate purchases, refinancings, and new store development lines of credit. Designed for franchise expansion, remodeling, equipment upgrades, and property purchases.
- Commercial Real Estate Lending Financing for commercial property acquisition, construction, and refinancing with fixed or variable rate options. Covers multi-family, mixed-use, industrial, retail, and office properties.
- Commercial & Industrial Lending C&I-focused lending including working capital lines, machinery and equipment financing, owner-occupied real estate, and acquisition financing for middle market companies. Large Corporate team participates in syndicated credits for Fortune 1000 firms.
- Lease Finance Equipment lease financing established in 1987 with over $5 billion delivered. Provides equipment leasing for technology, medical, and manufacturing equipment with financing terms up to seven years. Deal sizes from $100,000 to $30 million for companies with revenues exceeding $250 million.
- Treasury Management Solutions Comprehensive cash management including ACH collections and disbursements, wire transfers, remote and mobile deposit capture, Positive Pay fraud protection, lockbox services, sweep accounts (zero balance, target balance, loan sweeps, investment sweeps), merchant services, and commercial credit cards.
- Non-Profit Banking Specialized banking for nonprofit organizations including the Community Partners Non-Profit Checking Account with interest earnings, access to Fundica AI funding search, Foundation Directory Online subscription, networking events, and financial literacy programs.
- Private Banking Group Comprehensive deposit and liquidity solutions for family offices, business owners, industry professionals, and high-net-worth individuals, provided by Managing Director and advisors with personalized financial advisory services.
Quantifiable outcome
- Over $5 billion in lease financing solutions delivered since 1987
- +2 more outcomes
Companies that use First Bank Chicago
Customer profileSegments8 records
Ideal customer profiles4 records
First Bank Chicago technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability2 records
Feature4 records
First Bank Chicago partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Fiserv Solutions, Inc.coreTechnology partnership for core banking platform providing online and mobile banking services. The Fiserv-powered platform enables personal and commercial online banking, mobile banking applications for iOS and Android, and electronic banking services.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
First Bank Chicago competitors and assessment
Company assessmentDirect peers
- Byline Bank: Byline Bank is a Chicago-based community bank focused on small business, middle-market commercial, and CRE lending — closely overlapping First Bank Chicago's SMB, C&I, and franchise finance focus in the same metro market, with a similar branch-supported model.
- Old Second Bancorp: Old Second National Bank is an Illinois chartered community bank with comparable commercial, retail, and treasury management services and a similar family-influenced ownership profile, making it a near-substitute community banking franchise for First Bank Chicago.
- Tompkins Financial Corporation: Tompkins Financial is a community-focused regional bank operating multiple locally branded charters with commercial, treasury management, and wealth services — directly comparable in business mix and family-anchored governance to First Bank Chicago.
- Northbrook Bank & Trust (Wintrust subsidiary): Northbrook Bank & Trust is one of Wintrust's locally branded charters physically located in Northbrook, IL — overlapping directly with First Bank Chicago's flagship branch geography. It offers essentially the same community banking products (consumer, SMB, CRE, treasury management) in direct competition.
- Peapack-Gladstone Financial Corp. Peapack-Gladstone is a privately/community-oriented commercial bank with private banking for HNW individuals and family offices, similar specialty lending verticals (CRE, C&I, equipment finance) and an institutional-versus-mega-bank positioning that mirrors First Bank Chicago's go-to-market.
- Beverly Bank & Trust Company (Wintrust subsidiary): Beverly Bank & Trust is another Wintrust locally branded charter offering full-service community banking to consumers and small businesses in the Chicago market. Its vertically-segmented business model and emphasis on relationship banking directly mirror First Bank Chicago's positioning.
Broad incumbents
- Wintrust Financial Corporation: Wintrust is a Chicago-area community banking group with several locally branded subsidiaries (e.g., Northbrook Bank & Trust, Lake Forest Bank & Trust). It serves the same Chicagoland geography with overlapping SMB, CRE, and specialty lending franchises but at materially larger scale.
- Old National Bancorp: Old National is a Midwest-focused regional community bank with full-service consumer, commercial, and treasury offerings. While broader in geography and public-traded, its community banking model and middle-market C&I focus closely parallel First Bank Chicago's playbook.
- Heartland Financial USA (HTLF): HTLF operates a network of community banks across the Midwest and Southwest with multi-vertical commercial, treasury, and consumer banking. Its community-banking-as-a-platform approach and inclusion of independent community bank charters makes it structurally comparable to First Bank Chicago's vertically-segmented divisions.
Regional players
- S&T Bancorp: S&T Bank is a Mid-Atlantic/Pennsylvania community bank with comparable consumer, commercial, and treasury management products. While its geography doesn't overlap with First Bank Chicago, its mid-sized community-bank scale and full-service business banking franchise make it a structural comparable.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
First Bank Chicago social profiles
Digital presenceFirst Bank Chicago compliance and trust
Trust signalCompliance3 records
First Bank Chicago financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Bank Chicago leadership team
Management profileNumber of profiles
Profiles10 records
First Bank Chicago funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Bank Chicago 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 First Bank Chicago
What does First Bank Chicago do?
First Bank Chicago is a privately held community bank providing personal banking, business banking, commercial banking, private banking, treasury management, and equipment lease financing services. It offers deposit accounts (checking, savings, money market), consumer and commercial loans, specialized lending (franchise finance, professional services, commercial real estate, commercial & industrial), treasury management solutions, and digital banking through Fiserv-powered online and mobile platforms across four Chicago-area locations.
Is First Bank Chicago a public or private company?
First Bank Chicago is a private company. It is classified as family owned and is currently operating.
When was First Bank Chicago founded?
First Bank Chicago was founded in 1955. It employs 51 to 100 people.
Where is First Bank Chicago based?
First Bank Chicago is headquartered in Northbrook, United States, in the North America region.
How does First Bank Chicago make money?
Six revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Account Fees and Services, treasury Management and Cash Management Fees, lease Finance, electronic Banking Services and private Banking Services.
Who are First Bank Chicago's main competitors?
Direct peers on record are Byline Bank, Old Second Bancorp, Tompkins Financial Corporation, Northbrook Bank & Trust (Wintrust subsidiary), Peapack-Gladstone Financial Corp. and Beverly Bank & Trust Company (Wintrust subsidiary). Broad incumbents are Wintrust Financial Corporation, Old National Bancorp and Heartland Financial USA (HTLF). S&T Bancorp is listed as a regional player.
Does First Bank Chicago have an API?
No public API is recorded for First Bank Chicago.
What industry is First Bank Chicago in?
First Bank Chicago'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 FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 52211 and its SIC code is 6022.