The licence will allow Chicago Bancorp to offer its mortgage services, which include managing the entire loan process from origination to closing, to customers throughout the state.

With the new license, Chicago Bancorp will provide mortgage services in 17 states throughout the country Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, North Carolina, Oklahoma, Texas, Virginia, Wisconsin and now, New York.

Stephen Calk, founder, chairman and CEO of Chicago Bancorp, said: “We identified a strong demand in New York for a mortgage banker with the experience and lending power of Chicago Bancorp. By expanding the company’s unparalleled, full-service mortgage offerings to this new region, we are committed to working with more customers to simplify the loan process and help them experience the American dream of home ownership even in this challenging economic climate.”

John Calk, president and chief operating officer of Chicago Bancorp, said: “Chicago Bancorp’s expansion into New York is an important step for the continued growth of the company. As one of Chicago’s largest privately held retail mortgage banks, we look forward to working closely with customers and regulators to make a strong footprint in the state of New York.”