What Town Center Bank does

Town Center Bank is an FDIC-insured community bank headquartered in Frankfort, Illinois, operating two full-service branches in Frankfort and New Lenox and serving the Lincoln-Way corridor (Frankfort, Mokena, New Lenox, Manhattan, Orland Park, Tinley Park). It is the operating bank subsidiary of publicly-traded TC Financial Holdings, Inc., which trades on OTC Markets under the ticker TCNB. The bank offers a full suite of retail and commercial banking products — deposit accounts (checking, savings, money market, CDs), consumer and business Mastercard credit cards, mortgages and HELOCs, commercial and commercial real estate lending, cash management (ACH/wire origination, Positive Pay, sweep accounts), and merchant services powered by Payroc — augmented by an ID TheftSmart identity-protection subscription delivered in partnership with Kroll.

The technology stack is built on standard community-bank infrastructure: an iOS/Android mobile banking app, 24/7 online banking with Zelle integration, Remote/Xpress mobile deposit capture, and rule-based fraud tools like Positive Pay. The bank's commercial banking platform supports ACH/wire origination, business credit cards (via cardmanager.net), and a payroc-powered merchant services stack with POS, mobile, and gateway solutions. Distribution is a hybrid model — physical branches plus a mobile/online platform — with named relationship managers for commercial lending, commercial real estate, and mortgage origination.

Revenue is generated primarily through net interest income (spread on loans and deposits), supplemented by deposit and account fees, commercial cash-management fees, merchant processing revenue (Payroc revshare), credit card fees and interest, the ID TheftSmart subscription ($15/month per adult), and ancillary fees (coin counting, property tax processing). The bank does not publicly disclose revenue. Go-to-market is community-led: locally owned and managed with deep involvement in 17+ local organizations, earning the #1 Financial Institution ranking in the 2025 Herald News Best of Lincoln-Way Readers' Choice Awards.

Name

Town Center Bank

Legal name

Town Center Bank

Website

https://towncenterbank.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Town Center Bank is an FDIC-insured community bank with two branches in Frankfort and New Lenox, Illinois, serving Lincoln-Way retail and small-business customers with deposit accounts, mortgages, HELOCs, commercial lending, Mastercard credit cards, cash management, and merchant services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

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

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Cash & Coin Processing / Cash Centers (FSAMAOAF)

Keywords

• Community banking
• Personal banking
• Commercial lending
• Mortgage loans
• Merchant services

Headquarters

HQ city

Frankfort

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: The primary revenue stream for Town Center Bank is the spread between interest earned on loans (mortgages, commercial loans, home equity loans/LOC, consumer loans, CDs) and interest paid on deposits (checking, savings, money market, CDs). This represents the core of traditional community bank earnings.
2. Deposit and Account Fees: Monthly maintenance fees on accounts that fall below minimum balance thresholds, excessive transaction fees, and other service charges. Fee schedule published annually.
3. Commercial Banking Services: Revenue from business checking, commercial lending, commercial real estate lending, cash management services, and merchant card processing powered by Payroc. Includes item-based charges for deposits and transactions.
4. Credit Card Fees and Interest: Annual fees on certain credit card products (e.g., $49 annual fee on Business Choice Rewards Card), transaction fees, and interest charged on revolving balances for consumer and business Mastercard products.
5. Merchant Services: Payment processing revenue generated through the Payroc partnership for merchant card processing services, providing businesses with POS systems, mobile payment options, and payment gateway services.
6. Identity Theft Protection Subscription: Monthly subscription fee of $15 per adult for ID TheftSmart protection service (or $25 for two adults in a household), with optional free coverage for children. Revenue shared with Kroll.
7. Ancillary Services: Fees for coin counting (3% for non-customers), Will County property tax payment processing, and other miscellaneous banking services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Town Center Bank is a community bank headquartered in Frankfort, Illinois, providing deposit accounts, consumer and commercial loans, mortgages, and merchant services to individuals and small-to-mid-sized businesses in the Lincoln-Way area. The bank offers personal banking (checking, savings, CDs, credit cards), commercial banking (business checking/savings, commercial loans, real estate lending, wire transfers), and digital banking channels including mobile and online banking with bill pay, eStatements, and person-to-person payments.

Product overview

Town Center Bank is a community bank offering a unified platform of banking products and services across personal, commercial, and mortgage segments. The core digital banking platform provides 24/7 online and mobile banking access, integrated with Zelle for payments and Mastercard for credit card services. Personal banking includes checking accounts (Free Interest Checking, Money Market, Premier Interest Checking), savings accounts (Personal Statement Savings, Minor Statement Savings), CDs, and money market accounts with promotional rates. Credit products include Consumer Value Card and Everything Rewards Premier Plus Card for consumers, and Business No Fee Card and Business Choice Rewards Card for businesses. The mortgage suite encompasses purchase loans, refinancing, HELOCs, home equity loans, and a mortgage calculator. Commercial banking provides Business Checking (Small Business, Business Advantage, Commercial, Business Interest Checking variants), Business Savings (Money Market, Statement Savings, CDs), Cash Management services (ACH/wire origination, positive pay, sweep accounts), commercial lending, commercial real estate lending, and merchant services powered by Payroc. Identity protection is offered through ID TheftSmart (Kroll-powered) and fraud awareness via OUCH! newsletters. Additional community services include coin counting, property tax payments, and food pantry collections.

Differentiator

Problem solved

Functional benefit

Brands

• ID TheftSmart: Identity theft protection service offered to customers, provided through Kroll's Licensed Private Investigators, including credit monitoring, minor monitoring, ID Integrity Scan, and ID Theft Restoration.

Products and services

• Personal Checking Accounts

Quantifiable outcome

• ID TheftSmart identity theft protection offered at $15/month for individuals and $25/month for two adults, with free coverage for children

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PayroccoreTechnology or IntegrationTown Center Bank partners with Payroc to power its Merchant Services division, providing businesses with industry-leading payment solutions including modern point-of-sale (POS) systems, mobile payment options, and Payroc's advanced app and payment gateway. This partnership enables the bank to offer comprehensive payment processing to commercial customers.
• Kroll (Licensed Private Investigators)coreStrategic or Co-development PartnerTown Center Bank partners with Kroll's Licensed Private Investigators to offer ID TheftSmart identity theft protection services to its customers. Kroll provides 24/7 identity monitoring, dark web scanning, credit monitoring, minor monitoring, ID Integrity Scan, and full identity restoration services through licensed private investigators.
• MastercardcoreTechnology or IntegrationTown Center Bank issues consumer and business Mastercard credit cards through a licensing partnership with Mastercard. The bank offers multiple card variants including Consumer Value Card, Consumer Everything Rewards/Premier Plus Card, Business No Fee Card, and Business Choice Rewards Card, all backed by Mastercard benefits and global acceptance network.
• Paul Fried FamilyminorStrategic or Co-development PartnerThe Paul Fried family owns and manages the mixed-use commercial building at 1038 W. Lincoln Highway in New Lenox, which was renamed the Town Center Bank Building in December 2024. The bank's New Lenox branch is located at the heart of this building, and the Fried family manages the building that also houses various retail, dining, and office tenants.
• SANS Security AwarenessminorStrategic or Co-development PartnerTown Center Bank partners with SANS Security Awareness to provide monthly OUCH! cybersecurity newsletters to its customers, offering practical tips and the latest insights on protecting personal and financial information online. The bank hosts and distributes these newsletters on its website.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Busey Bank: Illinois-headquartered community bank with branches across central and suburban Illinois, offering consumer deposits, commercial lending, mortgages, and wealth services. Comparable scale, charter type, and product mix to Town Center Bank with overlapping presence in the broader Illinois community banking market.
• Old Second National Bank: Illinois-chartered community bank headquartered in Aurora serving the western Chicago suburbs with personal banking, commercial lending, mortgages, and treasury management. Comparable Illinois community bank offering similar full-service retail and commercial products to overlapping suburban Chicago markets.
• Inland Bank and Trust: Chicago-area community bank providing business banking, commercial lending, treasury management, and personal banking products. Directly comparable Illinois community bank serving overlapping suburban Chicago SMB and consumer segments with similar full-service model.
• Byline Bank: Chicago-based community bank serving small businesses and consumers across the Chicago metro area with deposit products, commercial lending, and treasury management. Directly competes with Town Center Bank in the same geographic market with similar SMB and consumer banking focus.
• First Financial Bank: Indiana-based community bank with Chicago-area expansion, offering consumer and commercial banking, mortgages, and treasury management. Comparable community-bank scale, full-service product suite, and competing for similar small business and consumer relationships in northern Illinois.

Broad incumbents

• Old National Bank: Large regional bank holding company serving the Midwest with full retail, commercial, mortgage, and wealth products. Provides comparable banking services across Illinois and competes for both retail and small business customers in the broader Chicagoland/suburban Illinois market.
• BMO Harris Bank: Major Chicago-based national bank offering full retail, commercial, mortgage, and wealth products across the Chicago metro. Competes with Town Center Bank for both consumer and small business relationships in the same Lincoln-Way / Will County market with vastly greater resources and branch density.
• Wintrust Financial: Large Chicago-area banking holding company with deep community banking franchise across Chicagoland suburbs including Will County. Operates multiple community bank charters (e.g., Hinsdale Bank, Libertyville Bank) with similar full-service retail, commercial, and mortgage products targeting similar local business and consumer segments as Town Center Bank.

Regional players

• Standard Bank & Trust (Standard Financial): Independent community bank serving Chicago's south suburbs (including Will County area) with consumer banking, mortgages, and commercial lending. Comparable product set and geographic proximity creates direct overlap with Town Center Bank's Lincoln-Way footprint.

Emerging players

• Consumers Credit Union: Illinois-based member-owned credit union serving Lake, Cook, and surrounding counties (with expanding reach) offering consumer deposits, mortgages, and consumer loans. Competes with Town Center Bank for retail banking relationships in northern Illinois, though more limited on the commercial banking side.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/towncenterbank
• LinkedInlinkedin.com/company/town-center-bank-illinois
• Instagraminstagram.com/towncenter_bank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Town Center Bank