Sutton Bank

What Sutton Bank does

Sutton Bank is an independent, FDIC-insured community bank founded in 1878 and headquartered in Attica, Ohio, operating a 9-branch network across north central Ohio that serves retail consumers, small businesses, and agricultural borrowers with deposits, consumer and commercial loans, treasury management, merchant card services (via Clover), and wealth advisory services through an Ameriprise partnership. In parallel, Sutton operates a Banking-as-a-Service franchise through its Sutton Payments Division, serving as a BIN sponsor and issuing bank for prepaid and debit card programs run by major U.S. fintechs and digital platforms including Cash App (Block), Robinhood, Square Checking, Albert, casino loyalty programs under the Play+ network (FanDuel, Caesars), and payroll and restaurant card programs (anyDay, Toast Pay), with program management support from Bluebanc and processing partnerships with Thredd (announced June 2026) and Shazam (Brella). Revenue is generated through traditional net interest income on loans and securities, deposit and service fees, interchange and program management fees from BaaS partners, and revenue sharing from Ameriprise investment products.

The bank is currently operating under an FDIC consent order issued in February 2024 over BSA/AML and third-party risk management failures, and has responded with a substantial leadership refresh between 2024 and 2026 — appointing a new COO (from Texas Capital, Signet Jewelers, and Nationwide), CFO, Chief Risk Officer, and General Counsel (a former senior FDIC Enforcement and OCC official), as well as two new board directors and a new board chair. The technology stack is a traditional core banking platform extended with partner-provided card issuing, fraud, and digital wallet integrations (Apple Pay, Google Pay, Samsung Pay, Zelle, Shazam Bolt/Brella); no proprietary AI/ML, patents, or differentiated technology assets are disclosed. The combination of a 146-year-old community franchise and a national embedded-finance program book — alongside an active regulatory remediation effort — defines the company's current investment profile.

Name

Sutton Bank

Legal name

Sutton Bank

Website

https://suttonbank.com

Company type

Private

Founded year

1878

Operating status

Operating

Headcount range

101–250 employees

Short description

Sutton Bank is an FDIC-insured independent community bank in north central Ohio serving retail, small business, and agricultural customers, while also operating a Banking-as-a-Service franchise as the issuing bank and BIN sponsor for major fintech and platform card programs including Cash App, Robinhood, and Square Checking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institution, Federally Chartered (6035), Mortgage Bankers & Loan Correspondents (6162), Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking
• BIN sponsorship
• Prepaid card issuing
• Agricultural lending
• Treasury management

Headquarters

HQ city

Ashland

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional bank lending revenue from personal, business, and agricultural loans including mortgages, auto loans, commercial real estate, and operating lines of credit
2. Fee Income: Non-interest fee income from deposit account service charges, merchant card processing services, and other banking fees
3. BIN Sponsorship / BaaS: Revenue from serving as sponsor bank for fintech prepaid and debit card programs, providing FDIC insurance, card issuing infrastructure, and regulatory compliance through program managers
4. Investment Services Revenue: Revenue sharing from investment and insurance products offered through Ameriprise Financial Services partnership

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Sutton Bank is an FDIC-insured independent community bank founded in 1878 and headquartered in Attica, Ohio, providing personal and business checking, savings, lending, credit cards, treasury management, and merchant card services across 9 branches in north central Ohio. The bank also operates a Sutton Payments Division that acts as a BIN sponsor for fintech and embedded finance providers, issuing prepaid and debit cards (Cash App, Robinhood, Albert, Monzo, Square, Toast Pay, FanDuel Play+, Caesars Play+) and offering investment services through Ameriprise Financial.

Product overview

Sutton Bank operates as a full-service community bank offering a unified portfolio of personal, business, and agricultural banking products. The core banking offerings include multiple checking and savings account variants (with Kasasa-branded rewards products), diverse lending products spanning consumer mortgages and auto loans to commercial real estate and specialized agriculture loans, and treasury management services. Digital banking capabilities provide online and mobile access with mobile wallet integration. The bank also serves as a BIN sponsor for prepaid and debit card programs through partnerships with fintech companies, and offers wealth management through Ameriprise. The product structure follows a traditional community bank model where accounts, loans, and digital services comprise the main offerings rather than a modular platform architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking

Named customers11 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• ThreddcoreStrategic or Co-development Partner · 19 June 2026Strategic partnership where Sutton Bank serves as U.S. BIN sponsor enabling Thredd clients to launch and scale prepaid and debit card programs. Thredd provides issuer processing platform including payments processing, card controls, risk and fraud tools, and digital wallet enablement. Partnership supports Thredd's strategy for flexible, partner-led issuing ecosystem across multiple geographies.
• Square (Block)coreChannel Partner/ Reseller/ DistributorSquare Checking is a business checking account offered by Square (part of Block) in partnership with Sutton Bank. Features no monthly fees, unlimited fee-free transactions, and instant access to revenue from Square payment processing. Sutton Bank serves as the issuing bank for Square's checking product.
• Rocket MortgagecoreStrategic or Co-development PartnerSutton Bank partnered with Rocket Mortgage to offer home mortgage loans for home buying and refinancing in Ohio. The partnership provides customers access to Rocket Mortgage's digital mortgage platform while Sutton Bank provides the underlying lending relationship.
• Cash App (Square)coreChannel Partner/ Reseller/ DistributorSutton Bank issues the Cash Card, a Visa prepaid debit card offered by Cash App (Square). The Cash Card is available exclusively through the Cash App mobile application. Sutton Bank does not issue or maintain Cash App accounts, only the Cash Card associated with the Cash App service.
• RobinhoodcoreChannel Partner/ Reseller/ DistributorSutton Bank issues the Robinhood debit card as part of Robinhood's prepaid card program. Sutton Bank does not provide customer support for Robinhood accounts, which is handled directly by Robinhood.
• AlbertminorChannel Partner/ Reseller/ DistributorSutton Bank issues cards for Albert's financial services products. Customer support for Albert is provided directly by Albert.
• MonzominorChannel Partner/ Reseller/ DistributorSutton Bank previously issued debit cards for Monzo's U.S. operations. Monzo announced exit from U.S. market in 2025 to focus on UK and European expansion.
• KasasacoreStrategic or Co-development PartnerSutton Bank offers Kasasa-branded consumer banking products including Kasasa Cash, Kasasa Cash Back checking, and Kasasa Saver savings accounts. These are reward-based checking and savings accounts with no monthly fees and cash back or interest rewards for meeting qualification requirements.
• BluebanccoreChannel Partner/ Reseller/ DistributorBluebanc serves as program manager connecting card issuers like Sutton Bank with various fintech and crypto card programs. Bluebanc manages the relationship between sponsor banks and card program operators for corporate and crypto card offerings.
• Ameriprise Financial ServicescoreStrategic or Co-development PartnerSutton Investment Services is offered through Ameriprise Financial Services, LLC. Hunter Mariotti serves as financial advisor providing retail and business customers with financial planning, retirement planning, fixed and variable annuities, IRAs, college planning, estate planning and insurance products.
• FanDuel Play+minorChannel Partner/ Reseller/ DistributorSutton Bank issues FanDuel Play+ cards, casino loyalty program cards for FanDuel sportsbook and gaming customers.
• CloverminorChannel Partner/ Reseller/ DistributorSutton Bank offers Clover point-of-sale solutions as part of merchant card services for business customers.
• Children's Hunger AllianceminorOthersSutton Bank partners with Children's Hunger Alliance for the fourth consecutive year to support CHA's Weekend Meals program, helping provide weekend meal packs for children facing food insecurities in local communities.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cross River Bank: New Jersey-chartered community bank that has become one of the most prolific Banking-as-a-Service and BIN sponsor banks for fintechs and embedded finance programs—directly comparable to Sutton's issuing-bank model serving Cash App, Robinhood, and Square.
• WebBank: Utah-chartered industrial bank widely recognized as a leading BIN sponsor bank partnering with fintechs (Affirm, Klarna, etc.) to originate and issue loans and cards. Closely comparable operating model to Sutton's Sutton Payments Division.
• Celtic Bank: Utah-based industrial bank that serves as a sponsor bank for fintech credit and card programs, notably for companies like SoFi and various BNPL and lending partners. Comparable BaaS sponsor structure to Sutton.
• Stride Bank: Oklahoma-chartered bank serving as a BIN sponsor for fintech prepaid programs (including Chime's earlier card program). Directly comparable role as sponsor bank for embedded finance and card programs.
• Coastal Community Bank: Washington-based community bank that operates a significant BIN sponsorship and Banking-as-a-Service division serving fintech and crypto programs. Direct overlap with Sutton Payments Division's card program management business.
• Sunrise Banks: Minnesota-chartered community bank with a nationally recognized BaaS and BIN sponsorship practice serving fintechs including payment, lending, and crypto programs. Comparable structure to Sutton's sponsor-bank model.
• Live Oak Bank: North Carolina-chartered digital community bank focused on lending niches (small business, USDA, SBA) with technology-driven deposit gathering. Compares to Sutton's digitally-augmented community banking franchise with a defined lending niche (agriculture).

Broad incumbents

• Pathward Financial (formerly MetaBank): Publicly-traded bank holding company with significant prepaid card issuing, tax refund, and BaaS businesses serving the same fintech and embedded finance customers as Sutton. Broader, more diversified incumbent with overlapping issuing-platform capabilities.
• Green Dot Corporation: Publicly-traded financial technology and bank holding company focused on prepaid debit cards, cash deposit programs, and embedded finance through Green Dot Bank. Broader incumbent with overlapping prepaid card issuing infrastructure.
• The Bancorp Bank: Wilington, Delaware-based subsidiary of Bancorp, Inc. (NASDAQ: TBBK) offering specialized banking services including prepaid cards, private label banking, and BaaS programs. Compares to Sutton's community bank plus issuing platform model at broader scale.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/suttonbank
• LinkedInlinkedin.com/company/sutton-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sutton Bank