Question 1

What is First Bank and Trust Company of Illinois?

Accepted Answer

First Bank and Trust Company of Illinois is a community-focused commercial bank specializing in national commercial lending. Based in Palatine, Illinois, within the Chicago metropolitan area, the bank operates as a state-chartered commercial bank supervised by the Federal Deposit Insurance Corporation (FDIC).

With approximately $228.6 million in total assets and $191.8 million in deposits, First Bank and Trust Company of Illinois has established itself as a specialized commercial lender with a national presence. Despite its broader reach, the bank maintains a personalized, relationship-driven approach characteristic of community banking institutions.

Question 2

When was First Bank and Trust Company of Illinois founded?

Accepted Answer

First Bank and Trust Company of Illinois was established on December 20, 1962. For over 60 years, the bank has evolved from its community banking roots while maintaining its commitment to personalized service and meaningful customer relationships.

The institution has continuously adapted to the changing financial landscape, transitioning from a traditional community bank into a prominent commercial lending specialist. Throughout its history, the bank has maintained its focus on being a pillar of support for the communities and businesses it serves.

Question 3

Where is First Bank and Trust Company of Illinois headquartered?

Accepted Answer

First Bank and Trust Company of Illinois is headquartered in Palatine, Illinois, located in Cook County. The bank's main office is situated at 300 E. Northwest Highway in the 60067 zip code area.

Palatine is part of the Chicago-Naperville-Elgin metropolitan statistical area, providing the bank with access to one of the nation's largest and most diverse commercial markets.

Question 4

Where does First Bank and Trust Company of Illinois operate?

Accepted Answer

While headquartered in Palatine, Illinois, First Bank and Trust Company of Illinois operates as a national commercial lender. The bank maintains one domestic office but extends its lending services across the United States.

The bank's national reach allows it to serve commercial clients throughout the country, particularly focusing on specialized financing opportunities. Despite this broad geographic scope, the institution maintains its community bank ethos and personalized service approach.

Question 5

What services does First Bank and Trust Company of Illinois offer?

Accepted Answer

First Bank and Trust Company of Illinois specializes in comprehensive commercial lending services with typical loan sizes ranging from $1 million to $7 million. The bank offers refinancing, acquisition financing, bridge loans, and working capital lending solutions across diverse business sectors.

Commercial Lending Products:
• Owner-occupied properties and related businesses across various industries
• Single tenant properties, including construction projects
• Apartment financing (minimum 70% occupancy)
• Manufactured housing, including chattel financing
• Student housing projects
• Government Services Administration (GSA) properties
• Tax lien investments with advance rates up to 90%
• USDA-backed projects nationwide
• SBA loans nationwide
• Equipment financing
• Investment lines of credit
• TIF/Bond monetization
• Tax credit financing
• Cash surrender value loans

Digital Banking Services:
The bank provides a user-friendly mobile banking app that enables customers to manage accounts on the go. Digital services include account management, fund transfers, Zelle® payment integration for fast peer-to-peer transfers, online bill pay, and 24/7 account access.

Question 6

What makes First Bank and Trust Company of Illinois unique?

Accepted Answer

First Bank and Trust Company of Illinois distinguishes itself through its specialized focus on commercial lending combined with a streamlined decision-making process. All transactions are funded on a portfolio basis, allowing for greater flexibility and faster execution compared to banks that rely on secondary market sales.

The bank's management team takes pride in being creative and open-minded when exploring various business lines, particularly when unique deal aspects require experienced finance professionals. This approach enables the bank to serve clients that may fall outside traditional lending parameters.

Despite its national commercial lending presence, First Bank and Trust Company of Illinois maintains a community bank mindset where customers are treated as individuals rather than account numbers. The institution emphasizes building strong, lasting relationships based on trust, respect, and personalized attention.

Question 7

What type of financial institution is First Bank and Trust Company of Illinois?

Accepted Answer

First Bank and Trust Company of Illinois is a Commercial Bank with a state charter and Federal Deposit Insurance Corporation (FDIC) supervision. The bank operates as a community bank with commercial lending specialization.

As a commercial bank, the institution focuses primarily on business lending and commercial real estate financing rather than traditional retail banking services. This classification reflects the bank's strategic positioning as a specialized lender serving businesses across multiple industries with complex financing needs. The bank combines the regulatory framework and stability of a state-chartered commercial bank with the personalized service model of a community financial institution.

First Bank and Trust Company of Illinois

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About First Bank and Trust Company of Illinois in the United States