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.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154