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{{Use mdy dates|date=August 2023}}
{{Infobox Defunct Company
{{Infobox company
|company_name = LaSalle Bank N.A.
|name = LaSalle Bank N.A.
|company_logo = [[Image:Lasalle_bank_logo.gif|120px]]
|logo = Lasalle bank logo.png
⚫
|slogan =
|logo_size = 200px
⚫
|fate = Absorbed by [[Bank of America]]
⚫
|caption =
⚫
|fate = Acquired by [[Bank of America]]
|successor = Bank of America N.A.
|successor = Bank of America N.A.
|foundation = 1927
|foundation = 1927
|defunct = 2008 <!--date it went bankrupt/merged etc.-->
|defunct = 2008 <!--date it went bankrupt/merged etc.-->
|location = [[Chicago, Illinois]], [[USA]]
|location = [[Chicago, Illinois]], United States
|industry = Financial Services <!--types of products or services offered-->
|industry = Financial Services <!--types of products or services offered-->
|key_people =
|key_people =
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}}
}}


'''LaSalle Bank''' Corporation was the holding company for LaSalle Bank N.A. and [[LaSalle Bank Midwest N.A.]] With $116 billion in assets, it was headquartered at 135 South [[LaSalle Street]] in [[Chicago]], Illinois. LaSalle Bank Corporation was formerly an indirect subsidiary of Netherlands-based [[ABN AMRO]] Bank N.V., one of the world's largest banks, with total assets of EUR 986 billion, more than 3,000 locations in over 60 countries and a staff of more than 105,000. [[Bank of America]] acquired LaSalle Bank Corp. effective October 1, 2007 and officially adopted the Bank of America name on May 5, 2008.
'''LaSalle Bank''' Corporation was the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. (formerly [[Standard Federal Bank]]). With US$116&nbsp;billion in assets, it was headquartered at [[Field Building (Chicago)|135 South]] [[LaSalle Street]] in [[Chicago]],<ref>{{cite news |url=http://www.chicagobusiness.com/apps/pbcs.dll/article?AID=9999200030735 |date=August 26, 2008 |title=In brief: LaSalle Bank Building, American Apparel |newspaper=[[Crain's Chicago Business]] |access-date=7 May 2015 }}</ref> Illinois. LaSalle Bank Corporation was formerly an indirect subsidiary of Netherlands-based [[ABN AMRO]] Bank N.V., one of the world's largest banks, with total assets of EUR 986&nbsp;billion, more than 3,000 locations in over 60 countries and a staff of more than 105,000. [[Bank of America]] acquired LaSalle Bank Corp. effective October 1, 2007, and officially adopted the Bank of America name on May 5, 2008.


==Corporate Profile==
==Corporate Profile==
⚫
===LaSalle Bank N.A.===
Founded in 1927 as National Builders Bank of Chicago, it changed its name to LaSalle National Bank in 1940. ABN acquired the bank in 1979. In a merger of co-owned banks, the LaSalle Bank N.A. name was adopted in 1999. It was the largest bank headquartered in Chicago with $72.2 billion in assets and $46.8 billion in deposits. LaSalle Bank maintained 146 retail locations and 450 ATMs throughout Chicago and its neighboring suburbs.


⚫
===LaSalle Bank N.A.===
⚫
LaSalle Bank maintained regional offices in [[Atlanta]], [[Boca Raton]], [[Boston]], [[Cincinnati]], [[Cleveland]], [[Columbus, Ohio|Columbus]], [[Connecticut]], [[Dallas]], [[Denver]], [[Des Moines]], [[Houston]], [[Indianapolis]], [[Kansas City, Missouri|Kansas City]], [[Los Angeles]], [[Miami]], [[Milwaukee]], [[Minneapolis]], [[Nashville]], [[New Jersey]], [[New York City]], [[Omaha]], [[Philadelphia]], [[Pittsburgh, Pennsylvania|Pittsburgh]], [[San Francisco]], [[St. Louis, Missouri|St. Louis]], [[Tampa]], [[Tustin]], and [[Washington, D.C.]] Subsidiaries included LaSalle National Leasing Corporation, LaSalle Business Credit, LLC, and LaSalle Financial Services, Inc.
Founded in 1927 as National Builders Bank of Chicago, it changed its name to LaSalle National Bank in 1940 after a team led by [[John Nuveen & Co.|John Nuveen]] acquired control.<ref>{{cite web |author=<!--Staff writer(s); no by-line.--> |url=http://archives.chicagotribune.com/1940/03/16/page/27/article/builders-bank-changes-hands-will-move-site |date=16 March 1940 |title=Builders Bank Changes Hands; Will Move Site |newspaper=[[Chicago Tribune]] |access-date=7 May 2015 |archive-date=May 18, 2015 |archive-url=https://web.archive.org/web/20150518183236/http://archives.chicagotribune.com/1940/03/16/page/27/article/builders-bank-changes-hands-will-move-site/ |url-status=live }}</ref> In the 1960s LaSalle acquired the Mutual National Bank of Chicago founded by [[Frank C. Rathje]]. [[Algemene Bank Nederland]] (ABN) acquired the bank in 1979. In a merger of co-owned banks, the LaSalle Bank N.A. name was adopted in 1999. It was the largest bank headquartered in Chicago with US$72.2&nbsp;billion in assets and US$46.8&nbsp;billion in deposits. LaSalle Bank maintained 146 retail locations and 450 ATMs throughout Chicago and its neighboring suburbs.

⚫
LaSalle Bank maintained regional offices in [[Atlanta]], [[Boca Raton]], [[Boston]], [[Cincinnati]], [[Cleveland]], [[Columbus, Ohio|Columbus]], [[Connecticut]], [[Dallas]], [[Denver]], [[Des Moines]], [[Houston]], [[Indianapolis]], [[Kansas City, Missouri|Kansas City]], [[Los Angeles]], [[Miami]], [[Milwaukee]], [[Minneapolis]], [[Nashville, Tennessee|Nashville]], [[New Jersey]], [[New York City]], [[Omaha]], [[Philadelphia]], [[Pittsburgh, Pennsylvania|Pittsburgh]], [[San Francisco]], [[St. Louis, Missouri|St. Louis]], [[Tampa]], [[Troy, Michigan|Troy]], [[Tustin]], and [[Washington, D.C.]] Subsidiaries included LaSalle National Leasing Corporation, LaSalle Business Credit, LLC, LaSalle Financial Services Inc, LaSalle ABN Capital Markets LLC, AMO Capital Markets, AMO Commercial Holdings LLC, ABN Commercial Real Estate Holdings LLC. Upon the acquisition Nova Global Markets and Nova Holdings became a part of the official records.


===LaSalle Bank Midwest N.A.===
===LaSalle Bank Midwest N.A.===
{{main|LaSalle Bank Midwest}}
{{main article|Standard Federal Bank}}
In 1996, ABN AMRO acquired [[Troy, Michigan]]-based [[Standard Federal Bank|Standard Federal Bancorporation]], the largest savings bank in the Midwest. In 2000, ABN AMRO acquired [[Michigan National Bank|Michigan National Corporation]] of [[Bloomfield Hills, Michigan|Bloomfield Hills]] and merged it into Standard Federal. The merged bank took the Standard Federal name, but operated under Michigan National's charter. In 2005, it changed its name to ''LaSalle Bank Midwest N.A.'' when ABN AMRO consolidated its U.S. commercial banking operations under the LaSalle name.
The midwestern bank was headquartered in [[Troy, Michigan]], with $43 billion in assets and $24.1 billion in deposits. LaSalle was one of the largest banks in the Midwest, serving individuals, small businesses, middle-market companies and institutions through 264 branches and 1,000 ATMs in Michigan and Indiana. It was founded in [[1893]] and was known as Standard Federal Bank before it adopted the LaSalle name in [[2005]].

As of 2007, it was one of the largest banks in the Midwest, with US$43&nbsp;billion in assets and US$24.1&nbsp;billion in deposits. It operated 264 branches and 1,000 ATMs in Michigan and Indiana.


===Sale to Bank of America===
===Sale to Bank of America===
On [[April 23]] [[2007]], an agreement was made to sell LaSalle Bank Corporation to [[Bank of America]] for $21 billion<ref>[http://www.abnamro.com/pressroom/releases/2007/2007-04-23-en-l.jsp ABN AMRO announces USD 21 billion sale of LaSalle to Bank of America].</ref> Bank of America Corp officially took over LaSalle Bank Corp on [[October 1]] [[2007]] <ref>[http://bankofamerica.mediaroom.com/index.php?s=press_releases&item=7885 Bank of America | Newsroom - Press Releases<!--Bot-generated title-->]</ref>. The acquisition makes Bank of America the largest bank by deposits in both greater Chicago and Detroit; Bank of America previously had a minimal presence in Chicago and none in Michigan <ref>[http://www.msnbc.msn.com/id/18269962/ Bank of America to buy LaSalle Bank for $21B, enters Chicago area - U.S. business - MSNBC.com<!--Bot-generated title-->]</ref>. The banks adopted the Bank of America name on Sunday, May 4, 2008.<ref>[http://www.lansingstatejournal.com/apps/pbcs.dll/article?AID=/20080502/NEWS03/805020382 Bank of America name replaces LaSalle | lansingstatejournal.com | Lansing State Journal<!--Bot-generated title-->]</ref>
On April 23, 2007, an agreement was made to sell LaSalle Bank Corporation to [[Bank of America]] for US$21&nbsp;billion.<ref>{{cite web |url=http://www.abnamro.com/pressroom/releases/2007/2007-04-23-en-l.jsp |title=ABN AMRO announces USD 21 billion sale of LaSalle to Bank of America |work=www.abnamro.com |archive-url=https://web.archive.org/web/20070715074353/http://www.abnamro.com/pressroom/releases/2007/2007-04-23-en-l.jsp |archive-date=15 July 2007 }}</ref> Bank of America officially took over LaSalle on October 1, 2007.<ref>{{Cite web|url=http://bankofamerica.mediaroom.com/index.php?s=press_releases&item=7885|archiveurl=https://web.archive.org/web/20071013085717/http://bankofamerica.mediaroom.com/index.php?s=press_releases|url-status=dead|title=Bank of America &#124; Newsroom - Press Releases<!--Bot-generated title-->|archivedate=October 13, 2007}}</ref> This was a defensive move by ABN AMRO to stave off [[ABN AMRO#Acquisition battle|its own purchase]] by a consortium led by [[Royal Bank of Scotland]]. RBS wanted to merge LaSalle with its [[Citizens Financial Group]] division. At one stroke, this made Bank of America the largest bank by deposits in both Chicago and Detroit; Bank of America previously had a minimal presence in Chicago and none at all in Michigan. The investment banking arm was purchased by the third largest bank in Canada by deposits and market capitalization.

Strong connections exist to the Chicago-based PrivateBank as a swath of bankers moved to establish that bank in the mold of the original LaSalle Bank and to avoid the big bank takeover. PrivateBank was later sold to the US division of [[Canadian Imperial Bank of Commerce]] (CIBC). <ref>{{cite web |url=https://www.bizjournals.com/twincities/stories/2008/02/18/story3.html |title=Former LaSalle lenders open Private Bank |first=Bryant Ruiz |last=Switzky |access-date=2023-08-14 |date=Feb 17, 2008 |archive-date=September 8, 2008 |archive-url=https://web.archive.org/web/20080908040552/http://www.bizjournals.com/twincities/stories/2008/02/18/story3.html |url-status=live }}</ref><ref>{{cite news |url=https://www.wealthbriefingasia.com/article.php?id=9661 |title=Twelve Former LaSalle Directors Join the Private Bank-Chicago |first=Bob |last=Reynolds |access-date=2023-08-14 |date=23 October 2007 |newspaper=WealthBriefingAsia |publisher=ClearView Financial Media |archive-date=June 16, 2023 |archive-url=https://web.archive.org/web/20230616145912/https://www.wealthbriefingasia.com/article.php?id=9661 |url-status=live }}</ref>


==Sponsorships==
==Sponsorships==
LaSalle sponsored a number of events in its Chicago home. Many of these events will now be re-branded with Bank of America's name.
LaSalle sponsored a number of events in its Chicago home. Many of these events will now be re-branded with Bank of America's name.
*[[LaSalle Bank Open|LaSalle Bank Open]] a [[Nationwide Tour]] golf tournament
*[[LaSalle Bank Open]] a [[Nationwide Tour]] golf tournament
*[[Chicago Marathon|The Chicago Marathon]]
*[[Chicago Marathon|The Chicago Marathon]]
*[[Chicago White Sox|The Chicago White Sox]]
*[[Chicago White Sox|The Chicago White Sox]]
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*[[Navy Pier|The Navy Pier]] Winter WonderFest
*[[Navy Pier|The Navy Pier]] Winter WonderFest
*[http://www.shamrockshuffle.com The Shamrock Shuffle] the largest 8&nbsp;km race in the world
*[http://www.shamrockshuffle.com The Shamrock Shuffle] the largest 8&nbsp;km race in the world
*[https://web.archive.org/web/20100307212344/http://www.imfchicago.org/diymain.html Handel's "Do-it-yourself" Messiah]
*[https://web.archive.org/web/20130524155213/http://www.armyreservejobs.org/goarmy/army-reserve-jobs/ Army Reserve Jobs]


==References==
==References==
{{Reflist}}
{{Portal|Banks}}
{{reflist|colwidth=30em}}


{{50 largest US banks}}
{{Bank of America}}
{{Authority control}}


[[Category:Banks in Illinois]]
[[Category:Banks based in Illinois]]
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[[Category:Private banks]]
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[[Category:Companies based in Chicago, Illinois]]
[[Category:Bank of America legacy banks]]
[[Category:Bank of America legacy banks]]
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[[Category:ABN AMRO]]

[[Category:Banks established in 1927]]
[[nl:LaSalle Bank]]
[[Category:Banks disestablished in 2008]]
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[[Category:Defunct companies based in Chicago]]
[[Category:Defunct banks of the United States]]

Latest revision as of 09:45, 14 August 2023

LaSalle Bank N.A.
IndustryFinancial Services
Founded1927
Defunct2008
FateAcquired by Bank of America
SuccessorBank of America N.A.
HeadquartersChicago, Illinois, United States
ProductsMiddle-Market Commercial Lending,

Middle-Market Commercial Real Estate Lending, Domestic and International Cash Management Commercial Banking, Wealth Management, Retail Banking,

Trust and Treasury
ParentBank of America (current)
ABN AMRO (former)

LaSalle Bank Corporation was the holding company for LaSalle Bank N.A. and LaSalle Bank Midwest N.A. (formerly Standard Federal Bank). With US$116 billion in assets, it was headquartered at 135 South LaSalle Street in Chicago,[1] Illinois. LaSalle Bank Corporation was formerly an indirect subsidiary of Netherlands-based ABN AMRO Bank N.V., one of the world's largest banks, with total assets of EUR 986 billion, more than 3,000 locations in over 60 countries and a staff of more than 105,000. Bank of America acquired LaSalle Bank Corp. effective October 1, 2007, and officially adopted the Bank of America name on May 5, 2008.

Corporate Profile

[edit]

LaSalle Bank N.A.

[edit]

Founded in 1927 as National Builders Bank of Chicago, it changed its name to LaSalle National Bank in 1940 after a team led by John Nuveen acquired control.[2] In the 1960s LaSalle acquired the Mutual National Bank of Chicago founded by Frank C. Rathje. Algemene Bank Nederland (ABN) acquired the bank in 1979. In a merger of co-owned banks, the LaSalle Bank N.A. name was adopted in 1999. It was the largest bank headquartered in Chicago with US$72.2 billion in assets and US$46.8 billion in deposits. LaSalle Bank maintained 146 retail locations and 450 ATMs throughout Chicago and its neighboring suburbs.

LaSalle Bank maintained regional offices in Atlanta, Boca Raton, Boston, Cincinnati, Cleveland, Columbus, Connecticut, Dallas, Denver, Des Moines, Houston, Indianapolis, Kansas City, Los Angeles, Miami, Milwaukee, Minneapolis, Nashville, New Jersey, New York City, Omaha, Philadelphia, Pittsburgh, San Francisco, St. Louis, Tampa, Troy, Tustin, and Washington, D.C. Subsidiaries included LaSalle National Leasing Corporation, LaSalle Business Credit, LLC, LaSalle Financial Services Inc, LaSalle ABN Capital Markets LLC, AMO Capital Markets, AMO Commercial Holdings LLC, ABN Commercial Real Estate Holdings LLC. Upon the acquisition Nova Global Markets and Nova Holdings became a part of the official records.

LaSalle Bank Midwest N.A.

[edit]
Main article: Standard Federal Bank

In 1996, ABN AMRO acquired Troy, Michigan-based Standard Federal Bancorporation, the largest savings bank in the Midwest. In 2000, ABN AMRO acquired Michigan National Corporation of Bloomfield Hills and merged it into Standard Federal. The merged bank took the Standard Federal name, but operated under Michigan National's charter. In 2005, it changed its name to LaSalle Bank Midwest N.A. when ABN AMRO consolidated its U.S. commercial banking operations under the LaSalle name.

As of 2007, it was one of the largest banks in the Midwest, with US$43 billion in assets and US$24.1 billion in deposits. It operated 264 branches and 1,000 ATMs in Michigan and Indiana.

Sale to Bank of America

[edit]

On April 23, 2007, an agreement was made to sell LaSalle Bank Corporation to Bank of America for US$21 billion.[3] Bank of America officially took over LaSalle on October 1, 2007.[4] This was a defensive move by ABN AMRO to stave off its own purchase by a consortium led by Royal Bank of Scotland. RBS wanted to merge LaSalle with its Citizens Financial Group division. At one stroke, this made Bank of America the largest bank by deposits in both Chicago and Detroit; Bank of America previously had a minimal presence in Chicago and none at all in Michigan. The investment banking arm was purchased by the third largest bank in Canada by deposits and market capitalization.

Strong connections exist to the Chicago-based PrivateBank as a swath of bankers moved to establish that bank in the mold of the original LaSalle Bank and to avoid the big bank takeover. PrivateBank was later sold to the US division of Canadian Imperial Bank of Commerce (CIBC). [5][6]

Sponsorships

[edit]

LaSalle sponsored a number of events in its Chicago home. Many of these events will now be re-branded with Bank of America's name.

References

[edit]
  1. ^ "In brief: LaSalle Bank Building, American Apparel". Crain's Chicago Business. August 26, 2008. Retrieved May 7, 2015.
  2. ^ "Builders Bank Changes Hands; Will Move Site". Chicago Tribune. March 16, 1940. Archived from the original on May 18, 2015. Retrieved May 7, 2015.
  3. ^ "ABN AMRO announces USD 21 billion sale of LaSalle to Bank of America". www.abnamro.com. Archived from the original on July 15, 2007.
  4. ^ "Bank of America | Newsroom - Press Releases". Archived from the original on October 13, 2007.
  5. ^ Switzky, Bryant Ruiz (February 17, 2008). "Former LaSalle lenders open Private Bank". Archived from the original on September 8, 2008. Retrieved August 14, 2023.
  6. ^ Reynolds, Bob (October 23, 2007). "Twelve Former LaSalle Directors Join the Private Bank-Chicago". WealthBriefingAsia. ClearView Financial Media. Archived from the original on June 16, 2023. Retrieved August 14, 2023.
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