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Wintrust Sees Room to Go Big in Chicago


(2) Comments



Comments (2)
Chicago is one of the most competitive markets in the U.S. In 1983, the middle market was dominated by Continental (pre-Penn Square). Then it was American National Bank & Trust Company of Chicago, which every other bank has since tried to emulate. But, alas, ANBATCO was acquired by First Chicago/Bank One/Chase and disappeared as a brand and an entitiy. The talent went down the street to Exchange, which was acquired by LaSalle, and for a while LaSalle was the predominant middle-market lender. It then slipped, and was sold to BofA which for reasons no one will ever understand, dissolved it. No one has been able to fill the gap since, and there are good reasons to believe no one will. Chicago will always invite competition. All a bank can do is carve a niche and defend it mightily. No bank can be dominant in this market. Wintrusts market share is still small, and will never approach the 20% share once enjoyed by Continental Bank.
Posted by | Tuesday, February 12 2013 at 8:00PM ET
"We tell people the 'M' in BMO Harris stands for Montreal, the 'P' in PNC stands for Pittsburgh, Fifth and Third are two streets in Cincinnati," he says. "Our motto is, 'Bring it home, Chicago.' We'll see if it works."

Yah, I wonder what the WTF in WTFC stands for.
Posted by crankysam | Friday, February 08 2013 at 6:38PM ET
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