President’s Letter

 

Welcome to the Crystal Lake Bank & Trust Web Site!

Crystal Lake Bank & Trust is a community bank committed to offering financial solutions and financial security to our customers. It is impossible to have that mission and make the poor lending and business decisions made by other banks and financial companies. As our customer, you should know:

  • We did not make any sub-prime or “no-doc” mortgages. We have avoided the write-offs and troubles that currently afflict the mortgage industry.
  • We maintained strict underwriting and pricing standards for our commercial loans over the last several years, avoiding the huge write-offs and problem loans that are hurting many other banks.
  • Crystal Lake Bank & Trust is part of Wintrust Financial Corporation, a $10 billion financial services company with 15 individually chartered banks, 79 locations, and a dozen other specialty finance and wealth management companies. Unlike other banks and holding companies, Crystal Lake Bank & Trust and Wintrust remain profitable.
  • By all current and regulatory standards, Crystal Lake Bank & Trust and its parent, Wintrust Financial Corporation, are well-capitalized institutions.
  • Crystal Lake Bank & Trust and the other Wintrust banks are commercial banks, not investment banks. Investment banks issue and sell securities in the bond and equity markets. Commercial banks collect deposits (that are insured by the FDIC) and make commercial and consumer loans.
  • Wintrust does not own any investment banks. The problems plaguing Lehman Brothers, Merrill Lynch and Morgan Stanley are unique to investment banks. Their problems do not affect Crystal Lake Bank & Trust or Wintrust.
  • Wintrust does not own any insurance companies. The problems plaguing AIG are unique to that organization. Their problems do not affect Crystal Lake Bank & Trust or Wintrust.
  • The products offered by Crystal Lake Bank & Trust (including its MaxSafe Money Market Account and CDs) are insured by the FDIC. (As compared to Money Market Funds offered by brokerage firms, which are backed by investments and may lose value.)

The current gyrations in the financial markets can be frightening in a number of ways. Please rest assured that your community bank remains strong and here for you and your family. If you have any additional questions, please don’t hesitate to ask us.

Sincerely,
Jim Thorpe
President & CEO