Question 1

What is Parkway Bank?

Accepted Answer

Parkway Bank is a locally owned and operated community bank that provides comprehensive commercial and retail banking services. Established in the Chicago area, the bank has grown to become a regional financial institution with over $3.7 billion in assets and 27 branch locations.

The bank serves individuals, small businesses, mid-market companies, and multi-million-dollar corporations across Illinois and Arizona. As a state-chartered commercial bank supervised by the Federal Deposit Insurance Corporation (FDIC), Parkway Bank combines the personalized service of a community bank with sophisticated financial products and technology.

Question 2

When was Parkway Bank founded?

Accepted Answer

Parkway Bank was founded on January 22, 1964, when it opened its doors to serve the northwest Chicagoland community. The bank was established with a mission to offer full-service financial products backed by truly personal, customer-oriented service.

Throughout its history, the bank has maintained strong community roots through donations, volunteer work, and educational initiatives. This commitment to community involvement has remained central to its identity even as the institution has grown significantly over six decades.

Question 3

Where is Parkway Bank headquartered?

Accepted Answer

Parkway Bank is headquartered in Harwood Heights, Illinois, a suburb in Cook County within the greater Chicago metropolitan area. The main office is located at 4800 N. Harlem Avenue.

The headquarters serves as the corporate center for the bank's operations across both Illinois and Arizona, providing centralized management and support for all branch locations.

Question 4

Where does Parkway Bank operate?

Accepted Answer

Parkway Bank operates 27 branch locations across two states: Illinois and Arizona. In Illinois, the bank has an extensive presence throughout the Chicago-Naperville-Elgin metropolitan area, with branches in communities including Antioch, Arlington Heights, Chicago (multiple neighborhoods including Cumberland, Elston, Jefferson Park, and Six Corners), Elmwood Park, Glendale Heights, Harwood Heights, Niles, Orland Park, Park Ridge, and Wood Dale.

The bank expanded to Arizona in 2004 with the acquisition of United Arizona Bank in Cave Creek, establishing a footprint in the Phoenix metropolitan area. Additional branches were added in the Phoenix region through 2009, extending the bank's reach beyond its original Chicagoland base.

Question 5

What services does Parkway Bank offer?

Accepted Answer

Parkway Bank provides a comprehensive range of banking services for both personal and business customers. Personal banking services include checking accounts (featuring Kasasa reward accounts with perks like high interest, cash back, and ATM fee refunds), savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and consumer lending products including mortgages and auto loans.

For business customers, the bank offers commercial banking solutions, small business banking, treasury management services, commercial real estate lending, lines of credit, and customized lending options. Digital banking services include online banking with bill pay capabilities, mobile banking apps for iOS and Android devices, remote deposit capture, mobile check deposit, eStatements, account alerts via text and email, and funds transfer capabilities.

The bank also provides Zelle payment services through its mobile app, merchant payment solutions, and various time-saving account management tools designed to give customers 24/7 access to their accounts.

Question 6

What makes Parkway Bank unique?

Accepted Answer

Parkway Bank distinguishes itself through its dual-state presence spanning Illinois and Arizona, which is uncommon for community banks of its size. This bi-regional footprint allows the bank to serve diverse markets while maintaining its community banking approach.

The bank's strategy combines state-of-the-art banking products with personalized, one-on-one service rooted in local communities. Its Kasasa reward checking accounts offer distinctive features like ATM fee refunds nationwide, high interest rates, cash back, and even credits for music, movies, and apps.

With over 60 years of continuous operation and growth through strategic acquisitions, Parkway Bank has demonstrated stability while maintaining its founding mission of community leadership. The bank emphasizes customized lending solutions tailored to individual customer needs, whether for commercial real estate or consumer financing, working closely with clients to find budget-friendly solutions.

Question 7

What type of financial institution is Parkway Bank?

Accepted Answer

Parkway Bank is a state-chartered commercial bank that is not a member of the Federal Reserve System and is supervised by the Federal Deposit Insurance Corporation (FDIC). This classification places it in the category of state non-member commercial banks.

As a commercial bank, Parkway Bank focuses on serving both retail consumers and businesses, with particular strength in commercial banking, small business lending, and treasury management services. The bank operates as a traditional community bank model, emphasizing relationship banking and local decision-making while offering the full spectrum of commercial and retail banking products typically associated with larger regional institutions.

Parkway Bank

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About Parkway Bank in the United States