|
|
 NorStates
Bank
is proud of our history and heritage – and excited about our
future. The past year has been transformative for our bank and we
stand ready to demonstrate to you how you can benefit from our new
strengths.
Fred Abdula
Chairman, President & CEO
NorStates Bank is a wholly owned subsidiary of the Northern States Financial Corporation
(NASDAQ: NSFC). It is the combination of the Bank of Waukegan (founded in 1962,)
and First State Bank of Round Lake (founded in 1949) which merged
in 2005 to form a single bank with assets in excess of $750
million. The bank has eight branches throughout Lake County – an
area known for its charming rural communities, highly developed
urban centers, wealthy suburbs and tourist amenities.
Our name,
NorStates Bank,
tells you that we are a community bank that has expanded beyond
the borders of any one community to ensure that our financial and
investment services are available to more people, in more
neighborhoods throughout Lake County. In fact, the name
NorStates Bank
reflects our promise to provide the highest quality financial
services to anyone who calls northeastern Illinois and
southeastern Wisconsin their home.
NorStates Bank
is managed by a strong local board
and its management team is made up experienced bankers, many with
more than 20 years of service to the bank. As a full service
commercial bank, we provide our customers with a complete line of
loan, deposit and cash management services. As a
community-oriented bank, our capable and friendly staff takes the
time to get to know you. That is why at
NorStates Bank,
our motto is, Our Most Important Customer Is You.
CORPORATE HEADQUARTERS
NorStates Bank
1601 N. Lewis Avenue
P.O. Box 39
Waukegan, IL 60079-0039
|
History of the NorStates Bank
|
 |
Bank of
Waukegan was founded
in 1962 as a state chartered commercial bank, headquartered in
Waukegan, Illinois.
| |
|
On June 2, 1980, a second facility was opened on the west side of town and appropriately named the Westside Facility.
| |
|
In 1982, the bank joined the newly formed Cash Station network, and installed the area's first ATM.
| |
|
On April 2, 1984 the
bank’s third facility was opened in Antioch, Illinois.
| |
|
In October 1984 the
Bank of Waukegan became a wholly owned subsidiary of its newly formed holding company, the Northern States Financial Corporation.
| |
|
In November of 1984, the Antioch Trust Company was purchased and renamed the Northern States Trust Company. It was later merged into the
Bank of Waukegan’s Trust Department in January of 1992.
| |
|
On July 1, 1991 the Northern States Financial Corporation completed the acquisition of First Federal Bank, fsb through a merger/conversion. Despite this merger/conversion, both financial institutions continued to operate independently. As part of this same process, Northern States was registered with the Securities and Exchange Commission and its stock began trading on the NASDAQ under the ticker NSFC.
| |
|
In April of 1998, First Federal Bank and its three branches were merged into the NorStates Bank. Due to its proximity to the bank’s main office, the smallest of the former First Federal Bank offices was closed shortly thereafter.
| |
|
On November 30, 1998 another branch office was established, when the bank successfully bid on a location in Winthrop Harbor, Illinois.
|
|
|
In January 2004, Northern
States Financial Corporation acquired Round Lake Bankcorp,
Inc. and it's wholly-owned subsidiary First State Bank of
Round Lake with two branches in the Round Lake area.
|
|
|
On November 10, 2005, Bank of Waukegan merged with First State
Bank of Round Lake to become NorStates Bank with a combined
eight branches in Lake County, IL.
|
|
 back to top
|
|
