When the bank opened on May 12, 1945, Mr. John McCarthy served as a founding director and chairman of the board.
After a career in real estate, Mr. McCarthy raised $250,000 from family, friends, and local business owners to capitalize a new bank. With World War II ending, and most of the nearby banks shuttered from the Great Depression, he and his investors believed the neighborhood would need and support a new bank. Under his guidance, the new bank would focus on financing essential assets – cars, homes, and apartment buildings – for people in the neighborhood. He thought this was the best way to promote the interests of the depositors, neighbors and shareholders. Following this strategy, Marquette Bank has grown to one of the top 25 largest banks in Illinois and has been profitable every year since 1946.
Employees who knew Mr. McCarthy commented on how he always knew their name, their families, and showed up when they needed him most - at personal times of success and grief. He was a man with great character and compassion recounted many. His focus on his employees paved the way for the tremendous culture at the bank where many spend their entire careers and decades of their lives.
While the size of the bank has grown dramatically over the past 80 years, the measured growth still includes real estate lending, giving back to the neighborhoods, and shareholders who are descendants of the original founders - all things Mr. McCarthy would resonate with and appreciate.
Now, 80 years later, Mr. McCarthy’s son, Paul, serves as bank chairman, carrying on his father’s legacy.