Our Story

The Principles We Bank On

We believe in the power of shared values to create a strong and vibrant banking community.  At the heart of our organization - our six core values.  Each of these values represents the essence of who we are and guides us in every decision we make.  These are the principles we bank on.  Each video below delves deeper into each core value, illustrating the impact they have on our culture and the work we do.

Core Value #1: INITIATE

Core Value #2: ADVOCATE

Core Value #3: COLLABORATE

Core Value #4: EXCEED

Core Value #5: GROW

Core Value #6: DELIVER

Community: The Only Benchmark That Matters

At Devon Bank, we don’t measure our success in dollars and cents.
Or by the number of new loans we write.
It’s not about how many new checking accounts we open or CDs we sell.
Those are all just numbers on a balance sheet.
And while they matter, the kind of success we care most about can’t be reduced to a number.
Like a retired teacher in Andersonville who’s starting a community garden.
Or a Muslim family in West Ridge who’s able to buy their first home in a manner that adheres to their faith.
You can see it in an after-school program at a local synagogue. And the long line of loyal customers at a neighborhood pierogi shop.
It’s about making sure everyone feels welcome here.
It doesn’t matter what language you speak or how much money you have.
Or whether your Chicago roots go back a few generations…or a just a few months.
And when an Afghan or Somali or Ukrainian refugee is embraced with kindness and empathy in our community, well, as far as we’re concerned, we’re succeeding beyond our wildest dreams.
Because as a community bank, we’re only as successful as our community.
And by that measure, we’re doing very well indeed.

About Us

Devon Bank originally opened as the Devon North Town State Bank on September 15, 1945, just after the end of World War II. Our founders were local merchants who believed that the community known then as North Town, on Chicago’s North Side, would benefit from a community bank. Today, well over seven decades later, Devon Bank remains an independent community bank with deep roots in our communities and with the dedicated customer commitment envisioned by our founders. Primarily owned and operated by the Loundy family since 1953, Devon Bank has grown and changed, along with our customers and our communities.

One thing never changes. We are a full service community bank offering business and personal banking, commercial, real estate and mortgage loans, trust and international services. We also offer a broad range of electronic banking services from online banking and bill pay to ATM/Debit Cards and Mobile Banking. In addition to a high level of professional service, our service is personalized to the individual needs of our customers and our communities. Unlike many larger banks, there’s no “one size fits all” when it comes to banking services from Devon Bank.

Devon Bank’s mission has always been to be the bank that the neighborhood demands—to tailor its service offerings to the particular needs of the community. This means that with our headquarters in one of the most diverse neighborhoods in the country, the Devon Bank staff on average speaks collectively more than 30 languages. It means that we have provided mortgage seminars in Romanian. We have presented financial literacy classes in Assyrian. It means that we have developed the premier Islamic Finance program in the country and expanded it out geographically to help serve a broader un-met need. We have developed gap-bridging student loan programs for the Jewish Federation. We have helped resettle Russian refugees. In addition, we have proudly provided support to churches, synagogues, mosques, a Buddhist temple, social service agencies, community groups, medical providers, and providers of subsidized housing, developers, builders, visionaries, and those that just want to sell groceries to the locals. The caring community bank envisioned by our founders is exemplified in both our business and philanthropic commitments. Whether an individual needs a business loan, a home mortgage, or an organization like a religious or a social service group wants to finance a new facility, we go the extra mile to help them find a way to achieve their financial objectives. We know that time is money. Since we are locally owned, all decisions are made locally, so customers get swift answers and action at all our branch locations.

We do not use a remote call center. When you call us, you will be connected directly with an experienced, resourceful banker from one of our locations. Feel free to stop by any of our branches to meet our friendly and knowledgeable staff.

To obtain a copy of our impact report, please click here

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