Harris Bankcorp, Inc. · Chicago, IL United States
Company Description
View Harris Bankcorp, Inc. Locations On A US Map
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This link will open in a new window The US banking arm of Bank of Montreal (BMO), Harris Bankcorp offers financial services through Harris Bank and other subsidiaries. As BMO's US personal and commercial banking segment, Harris has about 280 bank branches in the Chicago area, Indiana, and Wisconsin. Additional affilated locations are in Arizona, Florida, New York, California, Texas, and Washington. In addition to standard deposit and lending services, other operations include investment management (Harris Investment Management), middle-market investment bank BMO Capital Markets, and private bank and wealth management unit Harris Private Bank.
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Key Harris Bankcorp, Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | October |
| Annual Sales (mil.) | $2,361.9 |
| Employees | 6,600 |
Harris Bankcorp, Inc. Executives
17 executives listed for Harris Bankcorp, Inc.'s Chicago, IL location.
| Title | Name & Bio | Contact |
| Vice-Chair and Head, Business Banking | Peter McNitt | Network |
| Vice Chairman | Charles Tonge | Network |
| CEO | Ellen Costello | Network |
Competition
Competitive Landscape for Harris Bankcorp, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Harris Bankcorp, Inc. Competitors
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