Ed Wehmer saw an opportunity to fill in a niche in Chicago as the change in branch banking laws quickly created a void for hometown banks to fill.

Wehmer quit his job as chief financial officer at River Forest Bancorp, rented a 1,200-square-foot storefront on Main Street in Lake Forest, Ill., picked up a case of beer and a box of cigars and invited some colleagues to start a bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.