North Shore National Bank of Chicago
Early History
In 1922, several residents of the Rogers Park Community, feeling that the people of this area should have the conveniences of a substantial state bank, organized the Howard Avenue Trust and Savings Bank. Seven years later, the bank had outgrown its original quarters at Howard Street and Ashland Avenue and moved its home to 1737 W. Howard Street. Groundbreaking ceremonies were held the day the Stock Market crashed, Friday, October 29, 1929.
During this time when all the other banks in Rogers Park closed, the Howard Avenue Trust and Savings Bank continued to meet all its obligations.
In 1938, the bank's directors decided to change its charter from that of a state bank to that of a national bank. It then became known as the North Shore National Bank of Chicago.
The North Shore National Bank had two locations in 1979, 1737 W. Howard Street and 2545 W. Devon Avenue.
1982
4 Chicago Banks Join Forces | SPECIAL TO The New York Times Published: May 20, 1982
CHICAGO, May 19
Four small Chicago area banks jointly announced today that they had combined their marketing and operational forces and would operate as a single entity called Affiliated Group Inc.
The combination was not a merger, but an arrangement that would allow the banks to compete more effectively by pooling their marketing and product resources.
The banks - the North Shore National Bank of Chicago, the Western National Bank of Cicero, the Franklin Park Bank, and the Morton Grove Bank - had combined assets of $475 million.
The group banks, which have interlocking directorships and share stock ownership, have informally cooperated with each other for several years, said Marvin E. Neland, chairman of all four banks.
"While the group technically has not formed a multibank holding company, we wanted to take advantage of the spirit of this new law and thus have created this logical marketing thread," he said.
The group will collaborate on new financial products aimed at more affluent customers, including a checking account tied to such other services as credit cards and credit lines.
Photos
RPWRHS photo F002-0101 shows Mayor William Hale Thompson - North Shore National Bank of Chicago Hall.
