State Bank of Chicago was an American banking firm which conducted business under a

state of Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolita ...

charter issued on February 10, 1891. State Bank of Chicago operated from offices in the Chamber of Commerce Building located at the southeast corner of La Salle and Washington streets in

Chicago, Illinois (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

. State Bank of Chicago was a successor to the private banking partnership of Haugan & Lindgren, Bankers which had been in operation since 1879. Haugan & Lindgren had been housed at No. 57 and No. 59

La Salle Street LaSalle Street is a major north-south street in Chicago named for Robert de La Salle, a 17th century French explorer of the Illinois Country. The portion that runs through the Chicago Loop is considered to be Chicago's financial district. Sout ...

, Chicago. That bank was founded by Norwegian born Helge Alexander Haugan and his partner John R. Lindgren. It had initially focused on the large population of

Scandinavia Scandinavia; Sámi languages: /. ( ) is a subregion in Northern Europe, with strong historical, cultural, and linguistic ties between its constituent peoples. In English usage, ''Scandinavia'' most commonly refers to Denmark, Norway, and Swe ...

n residents within the Chicago area. In 1929,

Walter W. Head Walter William Head (December 18, 1877 – May 3, 1954) was an American banker and insurance executive. He was president and founder of the General American Life Insurance Company, now a part of MetLife, and president of the American Bankers A ...

took over as president of State Bank of Chicago and guided through a merger with Foreman National Bank. All of the State Bank's assets were transferred to the Foreman National. The merger with Foreman National eventually made the remaining institution, the Foreman-State Bank, one of the three largest banks in Chicago. During June 1931, the Foreman-State Bank was acquired by the

First National Bank of Chicago First Chicago Bank was a Chicago-based retail and commercial bank tracing its roots to 1863. Over the years, the bank operated under several names including The First National Bank of Chicago and First Chicago NBD (following its 1995 merger with ...

References

External links

“History of Norwegians of Illinois”“History of State Bank of Chicago”“Chicago Jewish History”
Banks established in 1891 Defunct companies based in Chicago Norwegian-American culture in Chicago 1891 establishments in Illinois {{Illinois-stub