Harris Bank
Encyclopedia
BMO Harris Bank is a subsidiary of Montreal-based Canadian bank Bank of Montreal
. Today the bank holding company is formally named BMO Bankcorp, Inc.
The bank is headquartered in a complex of three buildings in Chicago's Loop neighborhood. The original 21-story building was constructed in 1910 at 119 West Monroe Street. The entrance to the building is flanked by two bas-relief sculptures of lions which continue to be used in the bank's logo. In 1960, a 23-story structure was added to the east with the address of 111 West Monroe. In 1974, a second 38-story tower was added to the west with the address of 115 South LaSalle Street. Both additions were designed by the firm of Skidmore, Owings and Merrill
and are in the modern
style. The bank uses the address of the 1960 building.
BMO Harris N.A. is a member of the Federal Reserves system.
On December 17th, 2010, Bank of Montreal
(BMO) agreed to purchase Marshall & Ilsley in an all-stock transaction valued at about $4.1 billion USD. Marshall & Ilsley will be combined with BMO's Harris Bank subsidiary based in Chicago, Il.
in the US (not including total assets from parent company). With offices primarily located in the Midwest, the bank operates more than 700 branches and 1350 ATMs in Illinois, Wisconsin, Minnesota, Indiana, Missouri, Kansas, Arizona, Nevada and Florida. It is the third-largest Chicago-area bank based on number of full-service branches.
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
. Today the bank holding company is formally named BMO Bankcorp, Inc.
The bank is headquartered in a complex of three buildings in Chicago's Loop neighborhood. The original 21-story building was constructed in 1910 at 119 West Monroe Street. The entrance to the building is flanked by two bas-relief sculptures of lions which continue to be used in the bank's logo. In 1960, a 23-story structure was added to the east with the address of 111 West Monroe. In 1974, a second 38-story tower was added to the west with the address of 115 South LaSalle Street. Both additions were designed by the firm of Skidmore, Owings and Merrill
Skidmore, Owings and Merrill
Skidmore, Owings and Merrill LLP is an American architectural and engineering firm that was formed in Chicago in 1936 by Louis Skidmore and Nathaniel Owings; in 1939 they were joined by John O. Merrill. They opened their first branch in New York City, New York in 1937. SOM is one of the largest...
and are in the modern
Modern architecture
Modern architecture is generally characterized by simplification of form and creation of ornament from the structure and theme of the building. It is a term applied to an overarching movement, with its exact definition and scope varying widely...
style. The bank uses the address of the 1960 building.
History
In 1882, Norman Wait Harris established N.W. Harris & Co., a Chicago-based municipal bond broker and the forerunner of Harris Bank. Other key events for Harris Bank include:- Harris Trust and Savings Bank established 1907
- Merger with Chicago National Bank 1960
- Restructured as Harris Bankcorp, Inc. 1972
- Bank of MontrealBank of MontrealThe Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
(later as BMO Financial Group) acquires Harris 1984 - First National Bank of Barrington acquired 1985
- Acquired State Bank of St. Charles and First National Bank of Batavia 1988
- Libertyville Federal Savings Bank and Loan and Frankfort Bancshares 1990
- Harris Bankcorp and Suburban Bancorp combined under the Harris name 1994
- Acquired 54 Chicago area branches from Household Bank 1996
- Direct brokerage firm Burke, Christensen & Lewis merged with Harris Investors Direct to form Harris InvestorLine 1999
- Freeman Welwood acquired 2000
- Village Bank of Naples (Florida) and Century Bank in Arizona acquired 2001
- First National Bank of Joliet acquired 2001
- Northwestern Trust and Investors Advisory Company in Seattle, Washington acquired 2002
- Harris InvestorLine is combined with CSFBdirect to form Harrisdirect 2002
- Online client accounts of Morgan Stanley Individual Investor Group acquired 2002
- myCFO acquired 2002
- Sullivan, Bruyette Speros & Blayney Incorporated acquired 2003
- Lakeland Community Bank in Round Lake and New Lenox State Bank in Will County acquired 2004
- Mercantile Bancorp. Inc. based in Hammond, Indiana acquired 2004
- Intent to acquire Villa Park Trust and Savings Bank 2005
- Retired the Harris Trust and Savings Bank name 2005
- First National Bank & Trust, based in Kokomo, Indiana acquired 2007
- Ozaukee Bank, Based in Cedarburg, WI acquired 2008
- Merchant and Manufacturers Bankcorp Inc, Based in New Berlin, WI acquired 2008
- Amcore Bank N.A. acquired April 23, 2010
- Marshall & Ilsley acquired July 5 2011
- Restructured as BMO Bankcorp July 5 2011
BMO Harris N.A. is a member of the Federal Reserves system.
On December 17th, 2010, Bank of Montreal
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
(BMO) agreed to purchase Marshall & Ilsley in an all-stock transaction valued at about $4.1 billion USD. Marshall & Ilsley will be combined with BMO's Harris Bank subsidiary based in Chicago, Il.
Operations
BMO Harris Bank N.A. is the 16th largest (by total assets) commercial bankCommercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in the US (not including total assets from parent company). With offices primarily located in the Midwest, the bank operates more than 700 branches and 1350 ATMs in Illinois, Wisconsin, Minnesota, Indiana, Missouri, Kansas, Arizona, Nevada and Florida. It is the third-largest Chicago-area bank based on number of full-service branches.
Organization
The executive management of Harris includes:- William Downe, President and Chief Executive Officer, BMO Financial Group
- David A. Galloway, Chairman, BMO Financial Group
- Ellen M. Costello, Chief Executive Officer, BMO Financial Corp and U.S. Country Head
- Mark Furlong, President and Chief Executive Officer, BMO Harris Bank N.A.
- Peter McNitt, Vice Chairman, BMO Harris Bank, N.A.
- Hubert The Lion, Harris Bank Mascot
Services
A list of services provided at Harris Bank:- personal financial services
- wealth management
- small business banking
- middle market banking
- investment and corporate banking
- equipment leasing
See also
- Harris, Hall & Co.Harris, Hall & Co.Harris, Hall & Co. was midwestern investment banking firm headquartered in Chicago. The firm was spun out from Harris Bank and would leater merge with Dean Witter & Co. in 1953....
, securities affiliate established in 1934, following passage of the Glass Steagall Act and acquired by Dean Witter & Co. in 1953 - Harris, Forbes & Co.Harris, Forbes & Co.Harris, Forbes & Co. was an investment banking affiliate of Harris Bank incorporated in 1911. Harris, Forbes firm was acquired by Chase Manhattan Bank in 1930 to form Chase Harris, Forbes. Just two years later, in 1932, the firm was dissolved after the passage of the Glass–Steagall Act in 1932...
, securities affiliate established in 1911 and acquired by Chase Manhattan BankChase Manhattan BankJPMorgan Chase Bank, N.A., doing business as Chase, is a national bank that constitutes the consumer and commercial banking subsidiary of financial services firm JPMorgan Chase. The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000...
in 1930