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Itasca Bank & Trust Co.: A true community bank

As an independent, locally owned bank, Itasca Bank & Trust Co. is a true community bank with roots in Itasca and the surrounding communities for over 68 years.

What Itasca Bank & Trust Co. is today can be found in the heritage of the Franzen and Mensching families. H.H. Franzen teamed up with two brothers to open their first bank in 1890. Over the next half-century, "Franzen" banks sprang up in many surrounding towns. H.H. Franzen was a founder of the Roselle State Bank in 1903, and the Itasca State Bank in 1916. He is said to have been involved in founding over a dozen suburban banks. In 1948, Itasca Bank & Trust Co. was opened in Itasca. From its inception, the bank has been run by a member of the combined Franzen and Mensching family. The bank is currently run by James R. Mensching, the grandson of Elmer Franzen.

The bank maintained one location from 1948 until 2011 when it opened a branch located 2.6 miles away at the corner of Roselle Road and Irving Park Road in Roselle.

From the beginning, Itasca Bank & Trust Co. has had a soft spot for small to medium businesses. Many of their clients are closely-held, entrepreneurial and multigenerational owner-operated.

Over the years, the bank has guided their clients through the good times as well as the more challenging times. They have a strong client base, a solid capital position, and most importantly, an experienced group of bankers who are very good at understanding their clients' goals and maintaining strong long-term relationships.

Itasca Bank & Trust Co. offers a 20-year term for real estate transactions, which is a clear advantage for business owners who want the security of a loan commitment without the cost of renewing their loan every three to five years. This is a unique opportunity that few banks offer. As an independently owned bank, lines of credit and equipment loans can be structured with flexible terms and the bank offers competitive closing costs. In addition, the bank's business checking accounts are quite reasonable when compared to other local banks, which offers a substantial savings to business owners and an advantage when the bank is considered as an option. A small business lending program has been created offering business loans under $10,000. That program offers another opportunity for a small-business owner who may not think they can qualify for a loan.

John Hunt, senior vice president of the bank's loan department said, "Our commercial banking team views lending as a core function of our business. As a result, we approach each relationship with the skill set and knowledge to provide unique solutions for our clients. If you are looking for a new banking relationship or are in need of a commercial loan, we are aggressively seeking new lending opportunities."

Itasca Bank & Trust Co., founded in 1948, is a privately-held, full-service community bank with locations in Itasca and Roselle with assets of $475 million. The bank directors include Jack Mensching, chairman, Jim Mensching, Don Sofolo, Cal Koeppel, Richard Soukup, Scott Metzler, Dr. Roy Scheck, Robin VanCastle and James Wade.

For more information about business lending, call John Hunt at (630) 773-0350, ext. 223.

• Ginny Wagner is vice president/director of marketing for Itasca Bank & Trust Co.

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