First American Bank

Commercial bank · Elk Grove Village, United States

First American Bank is an Illinois state-chartered bank founded in 1901, with USD 8.63 billion of assets and 58 offices in Illinois, Florida and Wisconsin at 30 June 2026. Two parts of its business set it apart from other banks of its size. It runs a U.S. Banking for Foreign Corporations desk with a Business Global Checking account for overseas companies, subsidiaries and investors setting up in the United States, and it runs a treasury desk for FinCEN-registered money services businesses with named specialists and trade body memberships. Foreign exchange covers spot, forward, option and swap contracts through a module inside its Ca$hTrac online banking, and trade finance covers letters of credit and export working capital loans. The entry business checking account costs USD 5 a month, waived on a USD 500 balance, with 250 free transactions.

Legal name: First American Bank
Regulated by: FDIC (deposit insurance, certificate 3657), Illinois Department of Financial and Professional Regulation
Licence confirmed: yes, on a regulator's own list
Established: 1901
Website: www.firstambank.com

Scores, 0 to 10

7.0United States

58 offices in Illinois, Florida and Wisconsin holding USD 5.55 billion of domestic deposits at 30 June 2026, with ACH origination and wire transfer in Ca$hTrac, and a published route for companies based outside the United States to open accounts. · source

7.0Fintech companies that need a partner bank

A named treasury team banks FinCEN-registered money services businesses and financial service centres, and the bank belongs to MSBA.org, INFiN Alliance and the New Jersey Financial Services Centers, which is a standing programme rather than case-by-case tolerance. · source

7.0Financial strength & stability

USD 8.63 billion of assets, total risk-based capital of 14.80%, tier 1 risk-based capital of 13.77% and a 1.52% return on assets at 30 June 2026. · source

7.0Customer satisfaction

The First American Bank app scores 4.82 out of 5 from 6,536 US App Store ratings. · source

7.0Foreign-owned & non-resident companies

A dedicated page and a Business Global Checking account exist for foreign corporations, international subsidiaries and overseas investors, with named contacts, and the business checking FAQ tells companies based outside the United States where to go. · source

6.5Lowest fees

Business Checking costs USD 5 a month, waived at a USD 500 minimum balance, opens with USD 100 and includes 250 free transactions with USD 0.60 for each extra; the bank states fees are counted on transactions rather than revenue, size or balances. · source

6.5Trade, manufacturing & import-export

Trade finance covers letters of credit, transactional trade finance lending, the SBA Export Working Capital Program and SBA CAPLines for exporters waiting on foreign buyer payments, alongside international payments and foreign cheque clearing. · source

6.0Cross-border payments, FX and multi-currency accounts

Wires go to most countries in US dollars or foreign currency, foreign exchange covers spot, forward, option and swap contracts through the Ca$hTrac FX module, and the branch counter deals in more than 80 currencies, but no margin is published. Ca$hTrac online banking carries payables and receivables, fraud prevention, a foreign exchange module, line of credit sweep, zero balance accounts and a mutual fund sweep, though accounts and pooling are US dollar only. · source

5.5Fast digital onboarding

An Open an Account link runs from every page and the business checking FAQ answers directly what a business based outside the United States should do, but no time to open and no fully online business flow is stated. · source

5.0Best interest on business balances

Excess balances can be invested overnight through a Mutual Fund Sweep or held in a Business Money Market, and a Line of Credit Sweep repays borrowing from surplus cash, but no business annual percentage yield is published. · source

5.0Startups & VC-backed companies

SBA loans, ESOP financing and business-stage guidance are offered, and the foreign corporations page says the bank works with startups as well as established companies, but there is no venture debt or pre-revenue product. · source

4.5Online businesses: e-commerce and SaaS

Merchant services and card services sit in the treasury management menu alongside receivables solutions, but no multi-currency collection account or marketplace payout product is published. No banking API, no accounting or payment platform integration and no revenue-based financing is published; a software company is treated as any other business client. · source

4.5Business cards (Visa, Mastercard)

Business card services sit in both the banking and treasury menus and business checking comes with a debit card, but no card fee, foreign transaction charge, virtual card or spend control is published. · source

4.0Crypto-friendly bank

The bank runs a desk for FinCEN-registered money services businesses, which is closer to crypto firms than most community banks get, but no page names crypto exchanges, brokers or virtual asset service providers and no digital asset policy is published. · source

3.5High-risk verticals (iGaming, cannabis, adult, forex)

The bank publishes no acceptable use list for gambling, cannabis, adult content or forex brokers, but it does publish a standing programme for one adjacent regulated vertical, money services businesses. · source

1.0Crypto wallet and custody for a business

No crypto holding for business clients: the business treasury and digital services pages list ACH, wires and positive pay only, and no digital asset product was found on the site or in press, checked September 2026. · source

1.0Accept crypto payments

No crypto or stablecoin acceptance for merchants appears in the bank's business or treasury pages, checked September 2026. · source

1.0Bitcoin

No bitcoin buying, custody or funds offered to business or personal clients was found on the bank's site or in press, checked September 2026. · source

1.0Ethereum

No ether product of any kind was found on the bank's site or in press, checked September 2026. · source

1.0Stablecoins (USDC, USDT and others)

No stablecoin accounts, payouts or settlement network membership was found; the MSB desk serves check cashers, money transmitters and financial service centers and names no crypto firms, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.