Oak Bank, now celebrating 45 years of business, has built a home in the heart of Chicago from the ground up. In its earliest days, the bank operated out of a trailer parked on Oak Street. From this humble beginning, Oak Bank has grown into an institution with over two hundred million dollars in assets, which is honored to serve the residents of the Gold Coast Historic District and the Near North Side.
The small group of local investors who founded Oak Bank envisioned a community bank dedicated to serving the neighborhood and its residents. Their vision became a reality in July of 1970, when Oak Trust and Savings Bank was established in its temporary location at 34 E. Oak Street.
Within a few months of opening its doors, Oak Bank moved into a permanent home. However, they didn’t have to go far, jumping from the trailer at the corner of Rush and Oak Streets to the building at the same corner. This new address, 1000 N. Rush Street, has remained their home ever since.
The Bank has been locally owned and operated since its inception. It is truly a community bank, created by and for residents of the Gold Coast, and has become the premier banking institution for this beautiful neighborhood.
The Near North Side is Chicago’s oldest community area, dating back to the earliest known permanent settlement in the 1780s. Some residents of this venerable neighborhood have also become “permanent settlers” at Oak Bank—many of the Bank’s clientele have been with the institution for more than three decades.
This loyalty can also been found among the staff of Oak Bank, who have an average tenure of more than 17 years. Oak Bank employees know the Bank and its customers inside and out, which helps them to provide friendly and exceptional service at all times.
Even when they move away, many customers remain with Oak Bank because of the quality of the services they receive. In the early 2000s, Oak Bank began to offer electronic banking services, which have made it even easier for the Bank to serve customers in far flung locations. Nevertheless, the mission of Oak Bank will continue to be serving the people and businesses of the Near North Side and Gold Coast of Chicago.