LaSalle Bank brand disappears as BofA takes over

B of A is laying off 2,500 Illinois workers, well I'm laying B of A after my CD matures this month.

Good luck finding a Chicago-based bank. They are few and far between.

Harris? Owned by BMO (Bank of Montreal).

I think Northern Trust is still headquarted in Chicago.

LaSalle was previously owned by ABN-AMRO. At least a U.S.-based bank purchased it in this deal.

JML wrote:

Good luck finding a Chicago-based bank. They are few and far between.

Good luck finding ANY Chicago-based business. The Mom-and-Pop businesses are getting shut out by national chains. Whether you're talking about the neighborhood grocer, sandwich shop, coffeehouse, car repair and now banks, the country is rapidly becoming the United States of Wal-Mart.

Really too bad that B of A had to eliminate so many "redundancies" in 07, 08, 09 all for the sake of profit. What is the economic impact on the city of Chicago after so many have lost jobs and will not be contributing to the local tax base?

JML wrote:

Good luck finding a Chicago-based bank. They are few and far between.
Harris? Owned by BMO (Bank of Montreal).
I think Northern Trust is still headquarted in Chicago.
LaSalle was previously owned by ABN-AMRO. At least a U.S.-based bank purchased it in this deal.

There are a number of local Chicago-based left in Chicago and still very independent. Community banks like Glenview State Bank, Broadway Bank, and Austin Bank of Chicago have the same services with often times better customer service.

It's a shame that Chicago's losing its big name companies through mergers and poor management.

Another bland, boring bank that charges $3.00 ATM fees.... these banks just suck money out of Chicago who deposit withm them. There "Cherry Red" signage is just awful and most bank branches have the authority to do nothing.

Thank God for Illinois having alot of terrific Community Banks that can handle alot of consumer and business needs.

www.KeepItWrigley.org

...yet another Chicago icon slowly disappearing from landscape! The very same thing could be happening to "Wrigley Field" if the its naming rights are sold to the highest bidder...

We can't do anything about LaSalle Bank or Marshall Field's, but we can still say something about Wrigley Field!

Show your support for Wrigley Field -- register and sign the petition - at www.KeepItWrigley.org

It's good to hear that so many small business clients are migrating to other banks now that LaSalle is no more. It seems that Harris, MB Financial, PrivateBanc and even Chase have something to gain in that regard at the expense of BoA.

Be carful when picking one of those local "Banks". Most are not chartered as banks at all. They are Savings and Loans. After the S&L scandel that they went through several years ago none of the S&L wanted to be known as S&Ls any longer. So they worked the word "Bank" in to their names.

Always look for a federal charter when choosing a bank. They have to pass the most stringent criteria, therefore are the best run and safest.

Jack Celtic

Rio Rancho, New Mexico

Keep It Wrigley wrote:

www.KeepItWrigley.org
...yet another Chicago icon slowly disappearing from landscape! The very same thing could be happening to "Wrigley Field" if the its naming rights are sold to the highest bidder...
We can't do anything about LaSalle Bank or Marshall Field's, but we can still say something about Wrigley Field!
Show your support for Wrigley Field -- register and sign the petition - at www.KeepItWrigley.org

Just came back from St.Louis series . We lost of 3 but Busch stadium is a exampkle of great park. We need to have a world calss facility here in Chicago and this old dumpy park that has the second highest prices in MLB. If the naming rights can brning in the revenue to renovate the park without the taxpayers or raising ticket prices then I am for it. It is ashame that everty time there is a merger people loose their jobs. I cannot comment of BOA, I do not bank there, and LASalle never cared for them, they were the first to raise the ATM fees, so I avoided them

LaSalle Bank brand disappering...

Along with hundreds of jobs in the Chicagoland area...

This is progress?!?

It's better for small business to go with local or regional banks anyway. So who cares.

Chicago Jack wrote:

Be carful when picking one of those local "Banks". Most are not chartered as banks at all. They are Savings and Loans. After the S&L scandel that they went through several years ago none of the S&L wanted to be known as S&Ls any longer. So they worked the word "Bank" in to their names.
Always look for a federal charter when choosing a bank. They have to pass the most stringent criteria, therefore are the best run and safest.
Jack Celtic
Rio Rancho, New Mexico

Jack, if you're still reading this, please let us know what you mean by "federal charter." Such as, if I go to a bank's website, should I see the actual words "federal charter" somewhere on the site? I have CDs spread around Chicago banks and always assume the FDIC insurance is enough. Is it?

http://www.fieldsfanschicago.org

Interestingly, LaSalle traces it's rise to Marshall Field's. It moved into promininence as a Chicago bank when an heir to the Marshall Field's department store estate acquired National Builders Bank of Chicago and built into LaSalle National Bank in 1940.

In reply to KeepItWrigley.org in Elgin, KeepitWrigley.org is pretty active and very worthwhile, but there is about 5-10 times the posts and activity at http://www.fieldsfanschicago.org . There's plenty that can still be done to bring back Field's. It's been rumored that Macy's pretty much has but a three year plan before they give-up and sell to someone else.

The http://www.fieldsfanschicago.org boycott is making a difference. Even at Looptopia this past Friday night they were out there with swarms of people on State wearing pin-on buttons for Field's that were being distributed.

Keep It Wrigley wrote:

...yet another Chicago icon slowly disappearing from landscape! The very same thing could be happening to "Wrigley Field" if the its naming rights are sold to the highest bidder...
We can't do anything about LaSalle Bank or Marshall Field's, but we can still say something about Wrigley Field!
Show your support for Wrigley Field

Actually, Marshall Field's brand and buildings are owned by Macy's and Macy's could restore Field's or sell it to be restored by someone else. Field's was more successful than Macy's, employed thousands of people who were fired by Macy's, was admired around the world as a unique Chicago destination store and attracted millions of tourists. Certainly Chicago was much better off with Field's in the landmark building on State Street and many people are actively working to see Field's brought back.

I agree that the loss of Chicago's LaSalle Bank is sad, as is the potential loss of the Wrigley Field name. But frankly, unlike Marshall Field's, no one outside of Chicago travels to our city to visit the LaSalle bank and few around the world have ever even heard of our local banks, so the loss to Chicago is felt primarily in the loss of jobs and banking management that favors our Chicago area needs.

Many people seem to feel that local names aren't important, but clearly they make a big difference due to the relationships forged with customers and the reputations they earn over time. Even if acquired by different owners, the prominent local names can and should be preserved.

Oh good...now the illegal aliens in the area can get credit cards without having government-issued ID. What a great boon to the economy.

LaSalle was a very good bank. Makes me sad to see it taken over by the Bank of Mexico.

JML wrote:

Good luck finding a Chicago-based bank. They are few and far between.
Harris? Owned by BMO (Bank of Montreal).
I think Northern Trust is still headquarted in Chicago.
LaSalle was previously owned by ABN-AMRO. At least a U.S.-based bank purchased it in this deal.

Try cole taylor bank. Family owned and is in chicago only. Has 8 locations, plus bankers there actually care about the customers. they deal with the problem then and there instead of giving you a 800 number to call

Get the facts before you start bashing B of A. Great company and will be great for Chicago. People always talk about ATM fees, well, if you have a BofA acct, you don't have to pay and their ATMs are everywhere!

Steve wrote:

B of A is laying off 2,500 Illinois workers, well I'm laying B of A after my CD matures this month.

im sure they could care less if you leave or not. Not trying to be mean, just being honest. I respect your decision to "stick it to the man", however if you leave, two more people will bank with them.

I have been with BofA for a number of years and I can tell you what an amazing company they are. They went above and beyond when my identity was stolen and had to clean up the financial mess. It's a great company and I'm glad to see them expand in Chicago!