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Leadership, Experience, Expertise and Enthusiasm

Leadership, experience, expertise and enthusiasm — these words describe what most people want in their banker and what you will find at M&M Bank. We have an experienced, empowered team of managers and lenders able to provide a high level of service. Our customers have direct access to our decision makers and we invite you to get to know them too.

Management Team

Laurence G. Foy
President and CEO
Tel: (815) 740-3280

Mr. Foy co-founded the Bank following a 22 year career in Chicago banking. At 27, he was named the youngest Vice President in the history of one of Chicago’s major business banks, and throughout his career specialized in commercial lending and banking with privately held manufacturers, distributors and industrial service providers throughout the Midwest. In 1993, Mr. Foy and John Traeger, Chairman of the Board, along with a limited number of investors, acquired a Joliet-based institution and renamed it Merchants and Manufacturers Bank. Since the Bank’s founding, it has more than quintupled in size. He holds a bachelor’s degree from the College of William & Mary and a MBA in finance and accounting from Northwestern University. Mr. Foy is a member of the board of directors.

Brad W. Butler
Senior Vice President
Tel: (815) 467-3842

Mr. Butler worked for several years as an examiner for the FDIC, gaining valuable experience in credit and financial analysis before joining M&M Bank in 1998 as Vice President and Cashier. He oversees the Bank’s funding and retail operations, directs the investment portfolio and manages the bank’s interest rate risk exposure. In addition, he is an active lender, is a member of the senior lending team and directs the Bank’s Asset Liability Management activities. He graduated with a bachelor’s degree in finance from Bradley University in Peoria, Illinois.

Steven M. Davis
Senior Vice President
Tel: (815) 467-3824

Mr. Davis is a native of the western Chicago suburbs. He began his career as a bank examiner for the FDIC and was an instructor for the FDIC’s Examination Management School before joining M&M Bank in 2001. He is the Bank’s Senior Lender and heads up new business development, sales management and customer relations. He is also a member of the bank’s Asset Liability Committee. Steve is a former Chairman and former Treasurer of the Will County Community Health Center’s governing council. He earned his bachelor’s degree in finance from Southern Illinois University.

William F. Schraeder II
Senior Vice President, Operations

Mr. Schraeder was part of the management team of a successful suburban bank startup, and then spent more than a decade with EdgeMark Financial Corp., a five-bank holding company with assets of over $500 million, managing the data processing and back office operations, including consolidating the back office operations, accounting, check processing, and branch operations to one location. Mr. Schraeder joined M&M Bank in 1995 to organize and implement the necessary systems and procedures for back office and branch operations. A Chicago-area native, he graduated from Elmhurst College.

Anton C. Gust
Senior Vice President, Business Development
Tel: (630) 575-9706

A native to the area, Anton began his career with American National Bank in Chicago. Mr. Gust’s banking experience ranges from aiding small, privately-held businesses to assisting in larger, multi-bank transactions in excess of $100 million. For the last several years, he has specialized in new business generation, working with small and midsize businesses throughout the Chicago area and beyond. He joined M&M Bank in 2008 to coordinate the Bank’s growing need for business development. Mr. Gust graduated with his Bachelors of Science degree in finance from Miami University in Oxford, Ohio.

Richard L. Menczynski
Vice President and Credit Officer
Tel: (815) 724-2020

Mr. Menczynski has served as a commercial lending field examiner at General Electric Capital Corp. and held positions with several large commercial finance companies, including Vice President-Audit Manager and Vice President-Portfolio Manager. He joined M&M Bank in 2007. Mr. Menczynski received his bachelor’s degree and MBA from Chicago’s North Park University.

Maura E. O’Malley
Vice President

Tel: (630) 575-9705

Ms. O’Malley is a CPA and began her career in public accounting, auditing financial service companies.  After nine years in public accounting, she moved into the private sector, serving as a financial analyst and officer at a Suburban Chicago bank and subsequently a controller for a Lake County homebuilder.   She joined M&M Bank in 2011 to expand the Bank’s Life Equity Loan Program.  Ms. O’Malley graduated with her Bachelors and Masters in Accounting from DePaul University in Chicago.



Directors of the Bank

Laurence G. Foy
President and CEO
Mr. Foy is co-founder, President and CEO of the Bank’s holding company and President and CEO of M&M Bank.  Mr. Foy has over 40 years’ experience in the banking industry in the Chicago area.

John E. Traeger
Chairman of the Board
Mr. Traeger is Chairman of the Board of Directors of both M&M Bank and its holding company and co-founded the Bank’s holding company in 1992.  Mr. Traeger is the former owner of Artistic Carton Company, a fully-integrated manufacturer of folding cartons with carton manufacturing facilities in Elgin, Illinois and Elkhart, Indiana and a paper mill in southwest Michigan.  Mr. Traeger was previously a Director of Union National Bank, Elgin, Illinois for over 25 years.

Catherine C. Traeger
Mrs. Traeger, a Director of the Bank since 1993, is a retired educator.

John W. Murphy
Managing Director and Product Manager of the Life Equity Loan Product
Mr. Murphy has more than 40 years’ experience in Chicago-area banking and has served as President and CEO of two area banks.  Mr. Murphy joined the Bank’s Board of Directors in 1993 and presently serves as Managing Director of the Bank responsible for the Bank’s innovative Life Equity Loan product.

Robert C. Lindsten
Mr. Lindsten is the former President and owner of Hydro Components Research & Development Corporation, a 50-year old manufacturer of precision molded plastic products located in Streamwood.  Mr. Lindsten, a customer of the Bank since 2000, joined the Board of Directors in 2006.

Timothy J. Roberts
Mr. Roberts is co-founder of Catalyst Exhibits, Inc., a designer and manufacturer of large-scale commercial exhibits. Mr. Roberts and Catalyst began banking with M&M Bank shortly after Catalyst’s founding in 1998 and Mr. Roberts joined the Bank’s Board of Directors in 2006.

R. James Cashmore
Mr. Cashmore is President and majority shareholder of ISK Industries, Inc., a 50-plus year-old manufacturer’s representative firm in Rolling Meadows specializing in industrial hardware and tools.  A customer of the Bank for over 15 years, Mr. Cashmore joined the Board of Directors of the Bank in 1999 and the Board of Directors of the bank’s holding company in 2008.

David W. Benfer
Mr. Benfer was formerly President and CEO of St. Raphael Healthcare System, a Yale University teaching affiliate, in New Haven, Connecticut, and previously was President and Chief Executive Officer of Provena St. Joseph Medical Center, Joliet, Illinois, the largest hospital in Will County.  Mr. Benfer also served nationally as Chairman of the American College of Healthcare Executives.  A member of the Board since 1993.