What Lincoln Savings Bank does

Lincoln Savings Bank is a privately held, FDIC-insured community bank founded in 1902 (originally The German Savings Bank, renamed in 1917) and headquartered in Reinbeck, Iowa. The bank operates 16-17 full-service branches across Central and Northeast Iowa, serving individual consumers, small-to-medium businesses, agricultural operations, nonprofits, and — through its LSBX Financial Technologies division — fintech companies seeking embedded banking infrastructure. Its core products span consumer checking and savings accounts (Simply Free Checking, Savings, CDs, HSA, IRA, Limited Edition Savings at 2.28% APY), a full business banking suite (Business Checking/Savings, Treasury Management, Nonprofit Banking), a comprehensive lending book (home equity, vehicle, mortgage, agricultural, SBA/USDA, commercial real estate, business expansion, equipment leasing, child care center financing, recreational land), and an advisory/planning layer (LSB Capital Management, financial planning, business continuation planning, farmer succession planning, trust services).

The underlying technology stack combines a traditional relationship-led community bank with a modern digital layer: online banking, mobile app with mobile deposit, digital wallets (Apple Pay/Google Pay), eStatements, and a "Ledger" personal financial management tool. Critically, the bank operates LSBX Financial Technologies, an API-first Banking-as-a-Service division launched in 2014 that exposes account opening, ledgering, KYC/KYB, multi-rail payment options (VISA, Mastercard, Same Day ACH, virtual cards), and payment processing to fintech partners under the bank's FDIC charter. LSBX claims a position as the 40th largest US bank by number of accounts, and integrates DoorDash as a third-party rewards-program administrator.

The revenue model is dominated by traditional community-bank economics: net interest income from mortgages, consumer loans, commercial/agricultural lending, and SBA/USDA programs (transaction-fee spread on deposits and loans); deposit-related transaction fees including $35 overdraft charges (capped at 8/day); service charges on wires, cashier's checks, notary, and safe deposit; plus a managed-services revenue stream from LSBX fintech partnerships. The holding company structure (Lincoln Bancorp) encompasses wholly owned subsidiaries LSB Financial Services, Inc., LSB Capital Management, Inc., Vital FS, Inc., LendXP, LLC, and LSBX Financial Technologies. Distribution runs through the Iowa branch network for consumer/business customers and through the LSBX API platform for enterprise fintech customers globally.

Name

Lincoln Savings Bank

Legal name

Lincoln Savings Bank

Website

https://mylsb.com

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

251–500 employees

Short description

Lincoln Savings Bank is a privately held, FDIC-insured Iowa community bank founded in 1902, operating 16-17 branches across Central and Northeast Iowa serving consumers, small businesses, farmers, and nonprofits, with an LSBX Financial Technologies division that offers Banking-as-a-Service APIs to fintech partners.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Community banking services
• Agricultural lending
• Commercial real estate loans
• Treasury management
• Banking as a service

Headquarters

HQ city

Reinbeck

HQ country

United States

HQ region

North America

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income: Traditional lending operations generating interest income from mortgages, personal loans, commercial loans, agricultural lending, and SBA/USDA loans. Core banking revenue stream from spread income.
2. Deposit Account Fees: Monthly service charges on accounts, overdraft fees ($35 per item, max 8 per day), and other deposit-related fees.
3. Service Charges: Fees from wire transfers, cashier's checks, notary services, safe deposit boxes, and other branch services.
4. Banking as a Service (BaaS): Revenue from fintech partnerships through LSBX division, enabling embedded finance and payment processing services for third-party businesses.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Lincoln Savings Bank is a full-service community bank founded in 1902 that delivers personal and business deposit accounts, mortgage and consumer lending, agricultural and commercial lending, treasury management, trust and advisory services through 16 Iowa branches and digital channels. The bank also operates LSBX Financial Technologies, an API-first Banking-as-a-Service division enabling fintech partners to embed FDIC-insured banking products including accounts, KYC/KYB, multi-rail payments and card issuance.

Product overview

Lincoln Savings Bank is a full-service community bank serving Central and Northeast Iowa since 1902. The bank operates as a traditional banking platform with multiple product lines: (1) Consumer Banking including Simply Free Checking, Savings Accounts, Certificates of Deposit, Health Savings Accounts, Individual Retirement Accounts, and Limited Edition Savings Accounts; (2) Business Banking encompassing Business Checking, Business Savings, Treasury Management, and Nonprofit Banking Services; (3) Digital Banking services including Online Banking, Mobile Banking, Mobile Deposit, Digital Wallets, eStatements, and Ledger Budget Tracker; (4) Lending products covering Home Equity Loans, Vehicle Loans, Mortgage Loans, Agricultural Lending, SBA/USDA Loans, Commercial Real Estate Loans, Business Expansion Term Loans, and Equipment Leasing; (5) Investment and Advisory Services including LSB Capital Management, Financial Planning, Business Continuation Planning, Succession Planning for Farmers, and Trust Services; and (6) LSBX Financial Technologies, a Banking as a Service (BaaS) division providing API access for fintechs to build FDIC-insured financial products with Account Opening, Ledgering, KYC/KYB, and Multi-Rail Payment capabilities. The bank operates 17 branch locations across Iowa and has been certified as a Great Place to Work for two consecutive years.

Differentiator

Problem solved

Functional benefit

Brands

• LSBX Financial Technologies: Community Banking as a Service (BaaS) division enabling fintechs and other businesses to offer secure banking products backed by Lincoln Savings Bank.
• LSB Capital Management
• LSB Financial Services

Products and services

• Simply Free Checking A basic personal checking account with no monthly service charge and no minimum balance requirement, for consumer banking customers.
• Savings Account An interest-earning personal savings account with $50 minimum to open, competitive rates, and a $2.50 monthly maintenance fee waived with $100 minimum daily balance.
• Limited Edition Savings Account A high-yield savings account paying 2.28% APY, available to customers moving funds from a maturing CD, with a $10,000 minimum and no set time restrictions.
• Certificate of Deposit (CD) A fixed-term savings product that earns interest at a guaranteed rate over a set term, for consumer depositors.
• Health Savings Account (HSA) A tax-advantaged savings account for individuals with qualifying high-deductible health plans, offering tax-deductible contributions and tax-free withdrawals for qualified medical expenses.
• Individual Retirement Accounts (IRA) Traditional and Roth IRA options offering tax advantages for retirement savings, with Traditional IRA limits of $7,000/year ($8,000 if over 50).
• Home Equity Loan A consumer-secured loan using home equity to fund home improvements, education, weddings, vacations or other large personal expenses.
• Vehicle Loans Consumer vehicle financing for personal-use auto purchases, originated through Lincoln Savings Bank's personal lending channel.
• Mortgage Loans Residential mortgage loans including conventional, FHA, VA, USDA and IFA programs, originated in-house by branch-based mortgage lenders.
• Business Checking A core business checking account offered to local small and medium-sized businesses and commercial enterprises across the bank's Iowa footprint.
• Business Savings Business savings accounts including Certificates of Deposit, Money Market accounts and interest-bearing savings accounts for commercial customers.
• Business Debit Cards Debit card products linked to business deposit accounts, supporting commercial purchases and cash access.
• Nonprofit Banking Services Banking services tailored to local charitable organizations, community groups and nonprofits in Iowa, including checking and treasury support.
• Treasury Management Cash management and treasury services for business customers, supporting cash flow optimization and operational banking needs.
• Agricultural Lending and Farm Financing Specialized farm financing and agricultural lending services for Iowa farmers and agribusinesses, including operating capital and farm expansion.
• SBA & USDA Loans SBA and USDA government-backed small business loan programs offering up to $100,000 in funding with no hidden origination fees.
• Operating Lines of Credit Revolving operating lines of credit giving businesses flexible, ongoing access to working capital while managing interest charges.
• Commercial Real Estate Loans Financing solutions for commercial property acquisition, development and refinancing of commercial real estate.
• Business Expansion Term Loans Term loans designed to support business growth and expansion initiatives, with predictable repayment structures.
• Equipment Leasing Leasing options for business equipment acquisition, allowing commercial customers to obtain needed equipment with structured payments.
• Community Child Care Center Financing Specialized financing for child care business operations, expansions and facility development across Iowa communities.
• Recreational Land Lending Financing for purchases of recreational land, supporting buyers seeking parcels for personal or leisure use.
• Trust Services Trust and estate planning services that help customers manage and transfer assets to beneficiaries, delivered via the LSB Financial Services subsidiary.
• LSB Capital Management Investment management and personalized advisory services delivered through the LSB Capital Management brand, providing portfolio design and management.
• Financial Planning Comprehensive financial planning services helping customers define and pursue personal and family financial goals.
• Business Continuation Planning Planning services designed to ensure smooth business transitions and operational continuity for business owners.
• Succession Planning for Farmers Specialized succession planning services for agricultural operations facing upcoming ownership transitions between generations.
• Executive Benefits for Businesses Benefit programs designed for business executives and key personnel, supporting retention and supplemental coverage.
• Investment Portfolio Design Customized investment portfolio construction and ongoing management tailored to individual investor objectives.
• Retirement Planning Planning services helping customers prepare and invest for a financially secure retirement.
• College Planning Education savings and planning services to help families prepare for future college expenses.
• Online Banking A self-service digital banking platform that lets customers manage accounts, view balances, transfer funds, pay bills, view statements and apply for loans online, available 24/7.
• Mobile Banking A smartphone banking application enabling account access, mobile check deposit, digital wallet integration and push notifications.
• LSBX Financial Technologies — Community Banking as a Service An API-first Community Banking-as-a-Service platform enabling fintechs and businesses to offer FDIC-insured banking products — including account opening, ledgering, KYC/KYB, Same Day ACH payments, VISA and Mastercard card issuance, virtual cards and mobile wallets — backed by Lincoln Savings Bank's charter.

Quantifiable outcome

• Great Place to Work Certification for second consecutive year (2025-2026)
• +1 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

One partnership is on record.

• Fintech CompaniescoreStrategic or Co-development Partner · 1 January 2014Partnership model established in 2014 where Lincoln Savings Bank (through LSBX division) enables fintech companies to offer FDIC-insured banking products including account opening, payments, servicing, and KYC/KYB compliance. Banks and fintechs work together to build powerful financial products.

Scale indicators7 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Sutton Bank: Sutton Bank is an Ohio-based community bank best known as the issuing bank for numerous fintech prepaid and debit card programs. It is a direct BaaS competitor to LSBX with similar scale.
• Lead Bank: Lead Bank is a Missouri-based community bank that has built a substantial Banking-as-a-Service business serving fintech partners, directly comparable to LSBX in scale, model, and regulatory positioning.
• Coastal Community Bank: Coastal Community Bank is a Washington-state community bank with a well-known BaaS division serving fintech and embedded finance partners. Directly comparable to LSBX in model and scale.
• BankProv: BankProv is a community/sponsor bank offering Banking-as-a-Service rails to fintechs, much like Lincoln Savings Bank's LSBX division. Both are sub-$10B-asset banks that pair traditional community deposit franchises with API-first embedded banking.
• Cross River Bank: Cross River is a New Jersey state-chartered commercial bank widely recognized as a leading BaaS/fintech sponsor bank. It is the closest large-scale analog to LSBX's BaaS model and competes for the same fintech partner relationships.
• Five Star Bank: Five Star Bank is a New York-based community bank with a fintech-forward operating model and BaaS capabilities serving digital banking and embedded finance partners — comparable scale and BaaS orientation to Lincoln Savings Bank.

Regional players

• West Bank: West Bank is an Iowa-based community bank with similar branch-banking and commercial lending focus in markets overlapping with Lincoln Savings Bank's footprint. Closest geographic community-bank competitor in Iowa.
• GNB Bank (Great North Bank): GNB Bank (formerly Grundy National Bank) is an Iowa community bank with a similar small-town branch footprint and commercial/agricultural lending model, directly comparable to Lincoln Savings Bank's traditional business.

Emerging players

• Unit (Unit Finance): Unit is a banking-as-a-service infrastructure provider that partners with sponsor banks to deliver embedded banking products. It sits upstream of LSBX as a potential channel partner or competitor for fintech clients.

Broad incumbents

• Heartland Financial USA (HTLF): Heartland Financial operates community banks across multiple Midwestern states including Iowa. It is a much larger regional incumbent offering overlapping deposit, lending, and treasury management services to LSB's customer base.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/mylsb
• Facebookfacebook.com/mylsb
• LinkedInlinkedin.com/company/lincoln-savings-bank
• Instagraminstagram.com/lincolnsavingsbank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors2 records

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 Lincoln Savings Bank