Mutual Bank - Bank History

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The origin of Mutual Bank can be traced to June 6, 1962 when it was first established as a State Chartered Financial Institution. Mutual Bank is a progressive, well-capitalized institution with more than $1.5 billion in assets. Over the past five years, the bank has seen phenomenal growth and expansion. Mutual Bank's strengths lie in its diversely experienced banker's commitment to providing attentive, results-oriented services and its conveniently located banking centers and ATMs serving the Chicagoland area.

The following is a brief timeline of Mutual Bank:

June 6, 1962:	Established as a State Chartered Financial Institution and named First State Bank of Harvey.
Dec. 1962:	Celebrated its grand opening under the stewardship of a Board of Directors that included prominent local businessmen and community leaders.
Year 1979:	Decision to move the bank’s premises to its current location at 16540 S. Halsted St. Harvey, IL.
June 1979:	Bank name changed to “Mutual Trust and Savings Bank”
Nov. 3, 1994:	Name changed again to “Mutual Bank”
August 1998:	Bank purchased by Mr. Pethinaidu Veluchamy. Mr. Amrish Mahajan named as the CEO and President.
Dec.18, 2000:	Opened banking center at 6335 N. Western Avenue, Chicago, IL 60659.
Feb. 12, 2001:	Opened banking center at 801 E. Nerge Road, Roselle, IL 60172.
June 8, 2001:	Opened banking center at 298 W. North Avenue, Villa Park, IL 60181.
Feb. 7, 2004:	Mutual Bank and Security Bank of DuPage agreed to merge under the unified name of Mutual Bank. The transaction was carried out to ensure a stronger financial institution keeping in mind the best interests of shareholders, customers and communities served.
Mar 24, 2007:	Mutual Bank acquired two branches of Northfield Savings Bank at Staten Island, New York and Edison, New Jersey. The new branches are a further step in the Banks’ progress towards a new era of growth and providing greater convenience and accessibility to its customers.
Aug 7, 2007:	Opened banking center at 5711 Hillcroft, Suite A1, Houston, TX 77036.
Aug 29, 2007:	Opened Banking Center at 3999 West 75th Street, Aurora, IL 60504.


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