North Community Bank Rebrands Itself As Byline Bank
It may seem like a new bank has moved into Andersonville and Edgewater. But rest assured: It’s just North Community Bank, renamed.
Byline Bank’s new name “means authorship. For us, it means putting our name behind everything we do and working hard to help you, our customers, write your own story,” CEO Alberto Paracchini wrote in a letter to customers on Jan. 6.
A story in Crain’s Chicago Business said the name change was slated to become effective in February. North Community Bank had been owned by Peter and Paula Fasseas, well known civic figures who sponsor the North Side PAWS animal shelter. Peter Fasseas purchased the lender in 1978 when it had just $16 million in deposits and 15 employees, the story said. The bank would have failed but for a $207 million recapitalization led by Roberto Herencia in June 2013. Herencia, a Chicago banker, is now Byline Bank’s new chairman.
According to a story in The Chicago Tribune, the Byline Bank name will be applied to the entire North Community Bank nameplate and all 91 of its branches. It has $2.4 billion in assets.
PR NewsWire said the neighborhood-focused bank was looking to enhance its online and mobile banking experiences. In Andersonville and Edgewater, Byline Banks are located near the intersections of W. Lawrence and N. Clark, W. Berwyn and N. Clark, and W. Balmoral and N. Broadway.
A call to Byline Bank’s public relations department for more information was not returned by press time.
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