Sutton Bank
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.
- Company typePrivate
- Founded1878
- HeadquartersAshland, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
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.
Sutton Bank firmographics
Firmographics- 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
Sutton Bank industry classification
Industry- 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
Where Sutton Bank is headquartered
LocationHeadquarters
- HQ city
- Ashland
- HQ country
- United States
- HQ region
- North America
Offices9 records
Markets served
Sutton Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income: Traditional bank lending revenue from personal, business, and agricultural loans including mortgages, auto loans, commercial real estate, and operating lines of credit
- Fee Income: Non-interest fee income from deposit account service charges, merchant card processing services, and other banking fees
- 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
- Investment Services Revenue: Revenue sharing from investment and insurance products offered through Ameriprise Financial Services partnership
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Free Kasasa Cash Checking - No monthly fee with qualifications required for rewards |
| Subscription | Monthly | Business Checking accounts - Fee-based with unlimited transactions options |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Sutton Bank product offering
Product offeringCore 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
Companies that use Sutton Bank
Customer profileNamed customers11 records
Segments3 records
Ideal customer profiles3 records
Sutton Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Sutton Bank partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- ThreddcoreStrategic 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)coreSquare 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 MortgagecoreSutton 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)coreSutton 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.
- RobinhoodcoreSutton 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.
- AlbertminorSutton Bank issues cards for Albert's financial services products. Customer support for Albert is provided directly by Albert.
- MonzominorSutton 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.
- KasasacoreSutton 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.
- BluebanccoreBluebanc 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 ServicescoreSutton 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+minorSutton Bank issues FanDuel Play+ cards, casino loyalty program cards for FanDuel sportsbook and gaming customers.
- CloverminorSutton Bank offers Clover point-of-sale solutions as part of merchant card services for business customers.
- Children's Hunger AllianceminorSutton 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
Sutton Bank competitors and assessment
Company assessmentDirect 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
Sutton Bank social profiles
Digital presenceSutton Bank compliance and trust
Trust signalCompliance4 records
Sutton Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sutton Bank leadership team
Management profileNumber of profiles
Profiles7 records
Sutton Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
Sutton Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sutton Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sutton Bank
What does Sutton Bank do?
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.
Is Sutton Bank a public or private company?
Sutton Bank is a private company. It is classified as management employee owned and is currently operating.
When was Sutton Bank founded?
Sutton Bank was founded in 1878. It employs 101 to 250 people.
Where is Sutton Bank based?
Sutton Bank is headquartered in Ashland, United States, in the North America region.
How does Sutton Bank make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are fee Income, BIN Sponsorship / BaaS and investment Services Revenue.
Who are Sutton Bank's main competitors?
Direct peers on record are Cross River Bank, WebBank, Celtic Bank, Stride Bank, Coastal Community Bank, Sunrise Banks and Live Oak Bank. Broad incumbents are Pathward Financial (formerly MetaBank), Green Dot Corporation and The Bancorp Bank.
Does Sutton Bank have an API?
No public API is recorded for Sutton Bank.
What industry is Sutton Bank in?
Sutton Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAEAG, Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks). Its NAICS code is 5221 and its SIC code is 6035.