Founded 1964 | ||
 | ||
Elgin State Bank in Elgin, IL is a private company categorized under Banks and Financial Institutions. Elgin State Bank offers banking products and services in Illinois. Its deposit products include checking accounts, savings account, and money market accounts. The bank's loan products include construction loans, equipment acquisition loans, and letters of credit, as well as home and vehicle loans. Elgin State Bank's other services include mortgage loans, individual retirement accounts, certificate of deposits, wire transfers, and savings bonds. The bank was founded in Elgin in 1964 as Lincoln State Bank with its main office at the corner of Summit Street and Dundee Avenue. It changed its name in 1973 to Elgin State Bank. The bank remains based in Elgin, Illinois. Elgin State Bank is a subsidiary of Elgin State Bancorp, Inc.
The Elgin State Bank currently has three branches all located in Elgin, IL. The main branch is located at 1001 South Randall Road, with two other branches on McLean Bvd. and Summit St.
In 2011 Elgin State Bancorp, Inc., the parent company of Elgin State Bank, was purchased by Wintrust Financial Corporation. The purchase price was approximate $13.75 million. As part of the transaction, Elgin State Bank merged into Wintrust's wholly owned subsidiary, St. Charles Bank & Trust Company. Elgin State Bank's three banking locations operate as branches of St. Charles Bank & Trust Company under the brand of Elgin State Bank.