Urban Partnership Bank Company Background and Operations

Urban Partnership Bank was a community development bank that operated from 2007 to 2017. It was established to provide financial services to underserved communities in the Midwest.

The bank was headquartered in Chicago, Illinois, and had branches in several other locations in the region. Urban Partnership Bank was a subsidiary of the non-profit organization, Illinois Institute of Technology, and the Chicago Urban League.

Urban Partnership Bank's primary goal was to provide financial services to low-income individuals and small businesses in underserved communities. The bank offered a range of products and services, including checking and savings accounts, loans, and investment services.

The bank's operations were focused on serving the needs of its target market, which included low-income individuals, small business owners, and non-profit organizations.

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Urban Partnership Bank was founded in 2011 by the former management of ShoreBank, which had failed but was allowed to remain in place and maintain ownership through a newly chartered bank. The FDIC took the unusual step of permitting the current management team to purchase ShoreBank through Urban Partnership Bank.

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The bank became a viable institution thanks to capital injections from large US banks totaling $140 million, write downs taken on nonperforming assets by the FDIC, and a loss-share agreement to cover future losses on assets. This support helped Urban Partnership Bank acquire all of ShoreBank's $1.54 billion in deposits and most of its $2.16 billion in assets.

Urban Partnership Bank was certified as a community development financial institution (CDFI) in July 2011, making it eligible to receive Community Reinvestment Act credit and apply for programs through the CDFI Fund to support its mission to revitalize urban neighborhoods.

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Urban Partnership Bank had a tumultuous start, enduring significant losses every year since its creation. In 2016, the bank made a crucial decision to cut its operating costs by reducing its number of branches and employees. This move resulted in stable fourth quarter numbers and the bank's first ever profit. After a decade of financial struggles, the bank finally achieved a milestone.

In 2018, Providence Bank & Trust of South Holland, Illinois, announced its plan to acquire Urban Partnership Bank. This acquisition was completed in January 2019.

The combined institution will have approximately $1.08 billion in assets, combining Providence's $630 million with Urban Partnership's $450 million.

Providence will maintain the four Urban Partnership branches in the Chicago area.

The acquisition aims to provide a stronger banking network and enhanced services for customers, including access to an array of services and increased lending options for commercial customers and small businesses.

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Urban Partnership Bank was led by a team of experienced financial services professionals with roots in the community.

The bank's leadership team, consisting of President William Farrow and Executive Chairman David Vitale, brought their personal histories to the role, which motivated them to fill the gap left by ShoreBank.

Their experience and community ties likely helped them navigate the challenges of running a community bank, allowing them to make informed decisions that benefited the community.

Effective leadership is crucial for any organization's success. Urban Partnership Bank was led by a team of experienced financial services professionals with roots in the community.

Their leadership team included President William Farrow and Executive Chairman David Vitale, who were driven by their personal histories.

The Chief Credit Officer plays a crucial role in any organization. Robert Dennis is the Chief Credit Officer of Urban Partnership Bank, overseeing the bank's credit operations.

Effective leadership is essential for a Chief Credit Officer to manage risk and make informed lending decisions. This position requires a deep understanding of financial markets and regulatory requirements.

In the case of Urban Partnership Bank, Robert Dennis brings his expertise to the table. His experience and knowledge are vital in navigating the complex world of credit management.

A good Chief Credit Officer must balance the needs of the bank with the needs of its customers. This requires strong communication and interpersonal skills to build trust and relationships.

Robert Dennis's leadership at Urban Partnership Bank is a great example of this balance in action. His dedication to credit management has helped the bank achieve its goals.

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Employment Numbers can play a significant role in the success of a bank, like Urban Partnership Bank, which has 45 people employed.

Having a lean team allows for more efficient decision-making and resource allocation, as seen in Urban Partnership Bank's operations.

A smaller team can also foster a sense of community and collaboration among employees, which can lead to better customer service and overall performance.

Urban Partnership Bank's employment numbers indicate a focus on keeping operations streamlined and effective.

Urban Partnership Bank is deeply committed to giving back to the community it serves. The bank's community involvement efforts are a testament to its dedication to social responsibility.

The bank has a long history of partnering with local organizations to provide financial education and resources to underserved communities. This includes hosting financial literacy workshops and seminars.

One notable example is the bank's partnership with the Chicago Urban League to provide financial education and job training programs to low-income residents. The bank has also provided financial support to the organization.

The bank's community involvement efforts have had a significant impact on the lives of its customers and the community at large.

Urban Partnership Bank had a strong presence in several cities, with a focus on serving diverse communities.

The bank maintained branches in Chicago, serving neighborhoods such as Chatham, Austin, and Bronzeville.

In addition to Chicago, Urban Partnership Bank also had branches in Cleveland and Detroit.

Urban Partnership Bank has a presence in several neighborhoods in Chicago. The bank's branches in Chicago serve the communities of Chatham, Austin, Bellwood, Bronzeville, Greater Grand Crossing, South Shore, Kenwood, Loop, West Ridge, and Stone Park.

The bank has a significant presence in the Midwest, with branches in Cleveland and Detroit.

The Urban Partnership Bank's annual revenue is a notable figure. The bank's annual revenue was $26 million in 2025.

Urban Partnership Bank's financials are relatively small-scale, which can be beneficial for local communities. This is evident from its annual revenue.

The bank's revenue is a significant aspect of its financial health, and it's essential to consider this when evaluating its overall performance.

Urban Partnership Bank has formed partnerships with various organizations to achieve its goals. One notable partnership is with the U.S. Department of the Treasury.

The bank received a $175 million investment from the Treasury Department in 2008. This investment helped the bank to stabilize its financial position.

Urban Partnership Bank has also partnered with the Illinois Housing Development Authority to provide financing for affordable housing projects. This partnership has enabled the bank to support community development initiatives.

The bank's partnerships have helped it to expand its services and reach more customers.

Urban Partnership Bank operates in a competitive market, with several banks and financial institutions offering similar services. One of its main competitors is ShoreBank, which was also a community development bank.

ShoreBank was known for its focus on community development and its commitment to providing financial services to underserved communities. It had a strong presence in the Midwest, particularly in Illinois.

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However, Urban Partnership Bank has managed to carve out its own niche in the market, offering a range of financial services to small businesses and individuals. Its expertise in community development and its commitment to financial inclusion have helped it stand out from the competition.

Another alternative to Urban Partnership Bank is the Opportunity Fund, a non-profit community development financial institution. The Opportunity Fund provides financial services to low-income entrepreneurs and small business owners.

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