Vision

To be recognized as a leader by providing quality banking products/services and building relationships that enhance lives and financial futures in the communities we serve.

History

Seaway Bank and Trust Company is a full-service commercial bank that emphasizes quality service and community commitment. Established in 1965 as Seaway National Bank of Chicago, it was created to counter discriminatory lending practices on Chicago's South Side. The founders, a group of local businessmen, sold shares door to door throughout the community to raise the $1,000,000 in capital needed to secure the Federal charter. By the end of its first year, Seaway's assets had climbed to over $5,000,000, and the bank has grown steadily over the years.

By year end 2013, Seaway had more than $555,000,000 in assets and almost 300 employees.

We support numerous churches, schools, and community groups through charitable donations, and thanks to our partnerships with leading corporations, we are able to reinvest in our family of customers and local businesses. Our mission remains to help minority professionals and entrepreneurs obtain the financial assistance they need and to be responsive to the credit needs of our community.

1965 Seaway opened for business on January 2nd in a rented storefront at 8555 S. Cottage Grove Avenue. Permanent Main Bank facility at 645 E. 87th Street was opened on November 18th.

1969 A second floor was added to the Main Bank.

1972 A second (East) branch opened at 825 E. 87th Street.

1977 Seaway opened the first 7-day branch in Chicago at Jewel Grand Bazaar, 87th Street and the Dan Ryan Expressway (I-94).

1980 Walter E. Grady appointed President and CEO of Seaway Bank and Trust Company.

1982 Seaway founder Ernest Collins retired as Board Chairman.

1983 Jacoby Dickens became Board Chairman. Seaway acquired Union National Bank (now Seaway's South Branch) and became the largest Black-owned bank in the country.

1990 A fourth (West) branch opened at 87th Street and the Dan Ryan Expressway (I-94).

1992 Seaway established a Corporate Trust Department to serve public and corporate debt market.

1994 Seaway established the Seaway Community Development Corporation to rebuild neighborhoods.

1997 A new branch opened in University Park (operated until 1999).

1998 Seaway became the first Black-owned bank to offer online banking.

2000 Seaway moved bookkeeping and data processing operations to a renovated facility on 87th Street. Seaway began Foreign Currency Exchange services in Terminal 5 at O'Hare International Airport, expanding into all terminals the following year.

2001 Seaway became a certified Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury.

2002 Seaway received an "outstanding" CRA rating from bank regulators and introduced a foreign currency facility at Chicago Midway Airport to accommodate the addition of international flights.

2004 Seaway opened a Loan Production Office in Waukegan (expanded to full service in 2009 and closed in September 2012).

2007 In May Seaway opened a new branch at 11116 S. Michigan Avenue in the Chicago Roseland neighborhood. On December 30th, Seaway National Bank recieved a State Charter and was renamed Seaway Bank and Trust Company.

2009 Seaway opened a branch in Chicago’s historic Bronzeville neighborhood in September.

2010 In October, Seaway acquired First Suburban National Bank, with branches in Maywood, Broadview and Crestwood.

2011 In March, Seaway acquired Legacy Bank, with one branch in Milwaukee, WI.

Seaway Bank and Trust Company is an FDIC Member, an Equal Housing Lender, and an Equal Opportunity Employer. Seaway Bancshares, Inc. is the bank's Holding Company.

 

 

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