Allstate Bank · Vernon Hills, IL United States
Company Description
Phone: 847-968-7661
Fax: 847-968-6717
View Allstate Bank Locations On A US Map
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This link will open in a new window Available via the Internet in all states, Allstate Bank is the banking arm of insurance giant The Allstate Corporation . The bank, which targets its parent's existing customers, offers checking and savings accounts, money market accounts, certificates of deposit, residential mortgages, home equity loans, and ATM and debit cards through Allstate agencies across America, as well as on the Web. It accepts deposits via the mail, ATMs, direct deposit, and wire transfers. Allstate Bank was established in 1998 in anticipation of the 1999 Gramm-Leach-Bliley Act, which eased restrictions on the types of services and products financial companies can provide. To read the full description, subscribe now.
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Key Allstate Bank Financials
| Company Type | Subsidiary Single Location |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $51.2 |
| Employees | 40 |
Allstate Bank Executives
3 executives listed for Allstate Bank's Vernon Hills, IL location.
| Title | Name & Bio | Contact |
| Director Operations | Deborah Bradel | Network |
| VP and CFO | Nick Georgakopoulos | Network |
| Director, Human Resources | Tom Norton | Network |
Competition
Competitive Landscape for Allstate Bank
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Allstate Bank Competitors
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