About Standard Bank

Your Neighborhood Bank

Standard Bank was incorporated as Standard State Bank in 1947.  It served the southwest metropolitan Chicago community at 79th Street and Ashland Avenue.  In 1970, the Bank moved to 95th Street and Western Avenue in the Evergreen Park community.   In 1980, the Bank’s first branch was opened in the Oak Lawn community and, in 1986, a second branch began to serve the community of Palos Park.  Throughout the 1980’s and 1990’s Standard Bank & Trust Co. continued to expand into the communities of Orland Park, Hickory Hills and Naperville, Illinois. Standard Bank and Trust’s corporate headquarters are now located in Hickory Hills.

In 1999, the Bank’s “area of service” expanded when we purchased the historic Exchange Bank located in Gardner, Illinois.  Exchange Bank, which had been established in 1871, was the only bank in Grundy County to remain open for business every single day during the “Great Depression.”  We are proud to have added the communities of Gardner, Wilmington, South Wilmington, and Morris in which we serve.  Also in 1999, our New Lenox Branch opened in April, our Joliet branch opened in July, and our Frankfort branch opened in November.

The year 2000 brought us into the Villa Park and Coal City communities.

The opening of the Shorewood and Bolingbrook branches in 2002 introduced Standard Bank to these two communities.

In the year of 2003, the Bank purchased the Dolton Branch of Umbrella Bank, the six branches of BankChicago, and the six branches of Security Federal Bank & Trust in Indiana.  Thus, Standard Bank has the opportunity to serve the Lyons, Oak Forest, and southeastern communities of Chicago, as well as communities in northwest Indiana.  These Indiana communities are St. John, Chesterton, East Chicago, Hammond, Highland and Lowell, Indiana.

On June 21, 2004, the North Riverside Branch opened at the corner of Cermak and First Avenue, providing another new community in which to serve.

During 2005, Standard Bank opened branches in the communities of Wrigleyville (one block from historic Cubs Park); Lockport, Illinois; Merrillville, Indiana and a second branch in the Oak Lawn community.

In March of 2006, we opened the Southport branch.  Also opened in 2006 were our Sheridan Branch and our Minooka Branch. These three branches are each located in communities that are new to Standard Bank, thus expanding Standard Bank’s opportunity to “champion the success of our communities…”

In August 2009, we opened an additional branch office in Thorek Hospital within the Wrigleyville community of Chicago.

We believe it is important that new employees be acquainted with the names of those individuals who make the decisions, which have made Standard Bank & Trust Company the successful, profitable, growing organization that it is.  In addition to Mr. Timothy J. Gallagher, Chairman of the Board, and Mr. Lawrence P. Kelley, Chief Executive Officer and President and Alfred J. O’Malley, Chairman Emeritus, the business professionals who serve on our Board of Directors are:

Fredric A. DiPaolo, President - DiPaolo Construction Company
John D. Gallagher, Partner -  Gallagher & Henry
Thomas J. Mertens, President - Tracz & Associates
Patrick J. Mulchrone, President - P.J. Mulchrone Company
David F. O’Keeffe, President - Star Moulding & Trim Company
Howard K. Priess II - Sole Practioner
Robin C. Purdy, President - The Purdy Company of California
Martin Lee Tew, Retired, J.M. Brennan and Company, Inc.
Mary A. Laraia – Senior Fellow & Project Director – The Aspen Institute

Standard Bank acknowledges the responsibility it has to the communities it serves.  Officers represent the Bank in the various service organizations in the area, and they are very involved in making these communities better places in which to live and work.