As consolidation increases in the banking industry and banks compete on market share and convenience, some area banks are thriving by offering unique services that set them apart from their peers in the nation’s most competitive market.

Even as many familiar names such as First Chicago, Oak Brook Bank and even Bank One have been swallowed up by bigger competitors seeking to increase their market share, these boutique banks place stock in personal customer service at one or just a handful of locations rather than placing an ATM within a half-mile of every customer.

For a select number, that strategy seems to be just the ticket to success in whatever form it takes, ranging from specific clientele-oriented offerings to doling out free shoe shines on Fridays.

One of them, Itasca Bank and Trust Co., has been a single-location bank for 60 years and has successfully withstood changes in demographics, in business, in technology and in the way of banking itself.

“In today’s market it is a very unique situation,” said Diane Middlebrooks, a vice president and Women’s Initiative coordinator. “We have been owned by the same group for 60 years and we are on our third generation. It is a special feeling.”

Middlebrooks said that traditionally Itasca’s customers have come from the immediate area, but in this age of Internet banking, many customers who move away nonetheless decide to remain with the bank because of the personal relationships they have built with staff.

The bank has also been able to reach out and connect with a new market in the past six years through its Women’s Initiative program, which targets professional women and business owners through networking sessions and informative seminars.

The program is open to anyone, men or women, whether or not they are Itasca Bank customers. The program has grown exponentially since its inception in 2000 and now has more than 4,000 members.

“It is very unique to see a bank stick by and fund a program like this for six years,” said Middlebrooks. “A lot of organizations start campaigns, but they rarely last this long. It really is a commitment that the bank has made.”

The program has helped contribute to the bank’s public reputation and has increased its number of clients, said Middlebrooks.

“This program is another way for us to establish relationships with people,” said Middlebrooks. “We want relationships, not just transactions. We have had numerous members leave their banks to become partners with Itasca Bank.”

Another bank seeking its niche in the market is Evergreen Private Bank in Oak Brook, which opened its doors in March of this year. The boutique bank offers its clients a taste of upscale treatment with free valet parking, doormen, wi-fi services, gourmet coffee and even shoe shines on Fridays.

It is not an exclusive bank and its principals covet a mixture of commercial and retail clients.

Darin Campbell, president and CEO, founded the bank following a career as a senior executive at Oak Brook Bank, which has been absorbed by MB Financial. Campbell thought that the market for a smaller bank still existed.

“Most banks today are not about service, but about market share,” said Campbell. “We want people to come here and have a very positive experience. Our model offers a unique upscale banking experience.”

Campbell got the bank off the ground by partnering with Evergreen Community Bank, which provided a quicker avenue because mergers require fewer regulations than start-ups.

However, Campbell is not going to be content with a single-location operation. He plans a “slight” expansion over the next five years and envisions five-to-six locations with the same business model.

“Our next location will probably be downtown (Chicago),” he said. “We are already ahead of schedule. We are over $105 million in assets.”

All future banks will be under the Evergreen Bank Group moniker.

While some banks attempt to win clients with unique services, others hope that services will attract unique clients.

The PrivateBancorp, Inc. is a $4.3 billion asset financial institution with 18 locations in six states that concentrates on high-net-worth individuals.

The bank has eight offices in the Chicago area, with its locations in Oak Brook, St. Charles and Geneva accounting for $800 million in assets.

“I had the concept in my mind for sometime,” said Ralph B. Mandell, chairman, president and CEO of PrivateBank. “It is the right market to be in. High net-worth individuals are the fastest growing segment of the U.S. economy.”

In 2000 it was estimated that 56,000 households in DuPage, Kane and Will counties earned more than $150,000 annually. In 2011, MapInfo Corp. projects that number at 305,000 households.

It’s this target clientele that PrivateBank covets and it is that increase in the marketplace that has allowed it to grow, said Mandell.

“We started this business 16 years ago with 14 employees and seven managing directors,” said Mandell. “We now have 500 employees and over 150 managing directors.”

The majority of clients are generated through referrals and the company does not do much marketing, added Mandell.

Wealth management has become a competitive market and PrivateBank’s success is an example of that as it has managed to thrive in a market that has been dominated by Northern Trust, its competitor, in the past.

“There have been some companies that have developed a lot in the last 10 years,” said Darrell B. Jackson, Northern Trust group executive, private client services Illinois. “But we still differentiate ourselves by a strong focus in all areas. We had a 118-year head start.”

Those areas constitute private banking, asset management and trust services for wealthy clientele. For instance, Northern Trust counts 22 percent of the Forbes 400 as its clients, said Jackson.

Northern Trust still maintains a very large portion of the market, with $3.5 trillion in assets under custody and operations in 19 states. Forty percent of its business is done in Illinois and the Chicago region.

But even with such a large portion of the market, Northern does not put down its footprint by establishing numerous banks or by blitz advertising.

“You won’t see us with 100 locations in a market,” said Jackson. “In Illinois we have 17 banks.”

Jackson said that the bank has had a very good year and considers itself lucky that it does not have to worry about mergers or any acquisitions in today’s consolidation-heavy market.

“We still have a very strong brand reputation.”