Press Release
February 19, 2014

Mayor Emanuel Announces The Federal Savings Bank Relocates National Headquarters To The City Of Chicago

Federally Chartered Home Lender Owned and Operated by Military Veterans to Create 100 New Jobs at New Chicago Headquarters
Mayor's Press Office    312.744.3334

Mayor Rahm Emanuel and Steve Calk, chairman and CEO of The Federal Savings Bank, announced today the mortgage giant has relocated its national headquarters to Chicago, a move that will bring 100 new jobs to the City. The Federal Savings Bank moved its headquarters from Overland Park, Kansas to Chicago following the opening of a National Home Loan Center in the City in June 2012.

“The Federal Savings Bank is another excellent example of a company recognizing Chicago’s many strengths and offerings as a city. Their move will create jobs and boost local economic opportunities,” said Mayor Emanuel.

This is the 27th corporate headquarters that has moved to the City of Chicago since Mayor Emanuel took office. Attracting corporate headquarters to Chicago is a key element of the Mayor’s Plan for Economic Growth and Jobs.

“The decision by The Federal Savings Bank speaks volumes about the business climate in Illinois,” said Governor Pat Quinn. “By adding its headquarters to the major office it already has here, the bank is strengthening its commitment to our state and putting more people to work.”

The bank previously opened a National Home Loan Center in Chicago, which brought more than 300 new jobs to the City in less than 24 months. The jobs included lenders, processors, underwriters, accountants, closers, etc. The National Home Loan Center was funded in part by the state’s Economic Development for Growing Economy (EDGE) corporate income tax credits and a TIFWorks grant awarded by the City of Chicago. The bank is not receiving additional assistance for the most recent relocation.

"The Federal Savings Bank is thrilled to move our headquarters to Chicago and to continue to build this great city's economy," said Steve Calk, chairman and CEO of The Federal Savings Bank. "With Chicago's incredible infrastructure, transportation access -- and most of all, strong pool of educated talent -- we look forward to continued growth through safe and sound lending practices. Mayor Emanuel's ongoing support of The Federal Savings Bank has been tremendous and we look forward to continuing our partnership."

The bank, which is owned and operated by military veterans, is proud to invest and support fellow veterans and wounded warriors. In addition to the bank’s own outreach efforts, the bank has supported the Mayor’s Office’s veteran focused initiative including participating in a veterans hiring events.

"I would like to thank the Federal Savings Bank for expanding their commitment to our city," said Alderman Walter Burnett, 27th Ward. "We have extremely talented people across our neighborhoods and communities waiting for opportunities just like these and I'm proud that they will be putting folks to work."

The company is accepting applications for administrative, accounting and finance positions. Interested applicants should send a resume and cover letter to recruiting@thefederalsavingsbank.com.

About The Federal Savings Bank
The Federal Savings Bank is a federally chartered savings bank. The Bank, established in 2011, became profitable within its first 3 months of operations, and has grown from nine employees and one office to approximately 600 employees throughout 10 offices. In 2011 The Federal Savings Bank was named by the American Bankers Association Journal as the most profitable bank in America with total assets of less than $100 million dollars. It has deposit and loan production offices in Overland Park, KS, and Chicago, IL with loan production offices throughout the United States.

###