Bank3

What Bank3 does

Bank3 is a privately held community bank headquartered in Memphis, Tennessee, operating seven branches across Tennessee and Mississippi under a charter that traces its heritage to The Farmers Bank, founded in 1910 and acquired by the Bank3 holding company in June 2016. As of mid-2024 the bank reported $450.4M in total assets, $387.4M in deposits, and $375.6M in loans. It serves four customer segments — personal, small business, mid-market, and enterprise — with a stated 7-minute loan decision model and relationship-led service positioning.

The bank's core deposit and lending products are delivered through a combination of physical branches and a digital platform, B3Connect, launched in 2025, which integrates treasury management, payments, and commercial lending tools. Operational infrastructure runs on a third-party core banking stack with Alkami providing behavioral-analytics-based fraud monitoring, and the bank has integrated FedNow instant-payment rails and contactless debit issuance. Mortgage lending is offered through dedicated offices within the existing footprint.

Revenue is generated primarily from net interest income on the loan portfolio and securities book, supplemented by non-interest income from deposit fees, treasury management, mortgage origination, and interchange. A $2.48M CDFI Fund grant (April 2023) subsidizes community development lending. Leadership transitioned in 2024 with founder Francis J. Cianciola moving to Executive Chairman and William J. Chase Jr. assuming the Chairman & CEO role, while Matt Shirley was promoted to President — a deliberate shift from founder-led to professional management intended to support continued growth in the Mid-South market.

Name

Bank3

Legal name

Banc3 Holdings, Inc.

Website

https://bank3.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Bank3 is a privately held Memphis-based community bank operating seven branches across Tennessee and Mississippi, serving personal, small business, mid-market, and enterprise customers with deposits, lending, treasury management, and digital banking services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

akta.pro secondary industries

Digital Retail Banking (Online & Mobile) (FSABAAAF), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Community banking
• Business banking
• Mortgage lending
• Treasury management
• Personal banking

Headquarters

HQ city

Memphis

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

Revenue model

1. Net Interest Income: Interest earned on loans (commercial, mortgage, consumer) minus interest paid on deposits. Core revenue driver for the commercial bank.
2. Non-Interest Income - Deposit Services: Fees from deposit account maintenance, transaction fees (per transaction charges after tier limits), wire transfers, and overdraft fees.
3. Treasury Management Services: Fees for business online banking, remote deposit capture, lockbox services, merchant services, ACH origination, wire transfers, and cash management solutions.
4. Mortgage Lending: Revenue from mortgage loan originations including conventional loans, FHA loans, VA loans, USDA loans, and adjustable-rate mortgages. Income from origination fees and interest rate spreads.
5. Business Banking Products: Monthly maintenance fees, transaction fees, and earnings credit for business checking, money market, and CD products.
6. Liquidity Management Products: Fees and spreads from Insured Cash Sweep (ICS) and CDARS products offered through IntraFi Network partnerships.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Bank3 is a community bank offering personal banking (checking, savings, money market, CDs), business banking (tiered business checking, money market), mortgage lending (conventional, FHA, VA, USDA, ARM), and treasury management services (remote deposit capture, lockbox, ACH origination, merchant services, positive pay, ICS/CDARS). Products are delivered through 7 physical banking centers in Tennessee and Mississippi and the B3Connect digital banking platform with FedNow instant payments and Alkami fraud prevention.

Product overview

Bank3 is a Memphis, Tennessee-based commercial bank offering a comprehensive suite of banking products and services through both traditional branch locations and its B3Connect digital banking platform. The core product portfolio includes personal banking (checking, savings, money market, CDs) and business banking (various checking tiers, money market accounts, treasury management). Treasury management services encompass Business Online Banking, Receivables Solutions (Remote Deposit Capture, Lockbox, Merchant Processing), Payable Solutions (ACH, wires, cards), Risk Management (Positive Pay, authentication), and Liquidity Management. Mortgage lending offerings include Conventional Loans, FHA, VA, USDA, Adjustable-Rate Mortgages, and Affordable Housing programs. Additional services include FDIC-insured deposit sweep products (ICS, CDARS) through IntraFi Network, SMS Banking, and Card Control features. The B3Connect platform serves as the unified digital banking experience integrating FedNow instant payments, Apple Pay/Google Pay, and Alkami-powered fraud prevention.

Differentiator

Problem solved

Functional benefit

Products and services

• Bank3 Personal Checking Foundational personal checking account with no monthly maintenance fee, unlimited transactions and check writing, Mastercard debit card with chip technology, complimentary online and mobile banking, integrated bill pay services. Designed for retail consumers seeking everyday banking.

Quantifiable outcome

• No domestic ATM transaction fees on personal checking accounts
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature10 records

Partnerships

Six partnerships are on record, tiered core and minor.

• IntraFi Network (ICS/CDARS)coreStrategic or Co-development PartnerPartnership with IntraFi Network enables Bank3 to offer Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Services (CDARS), allowing customers to secure 100% FDIC insurance coverage on balances exceeding $250,000 through multiple institutions while managing a single Bank3 relationship.
• Alkami TechnologycoreTechnology or IntegrationAlkami provides the technology platform powering Bank3's B3Connect digital banking system and industry-leading fraud prevention software that detects and prevents ACH and check fraud with real-time transaction monitoring.
• FedNow Service (Federal Reserve)coreTechnology or IntegrationFedNow instant payment solution integrated with B3Connect for real-time settlement, enhancing account reconciliation and reducing payment fraud. Available 24/7/365 with no scheduled downtime.
• Apple PaycoreTechnology or IntegrationApple Pay integration available for Bank3 debit card holders allowing mobile wallet payments through Apple devices.
• Google PaycoreTechnology or IntegrationGoogle Pay integration available for Bank3 debit card holders allowing mobile wallet payments through Android devices.
• KnowBe4minorStrategic or Co-development PartnerKnowBe4 is Bank3's security awareness and simulated phishing provider partner, offering educational resources including a free interactive cybersecurity kit for children to teach online safety skills.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• BankTennessee: BankTennessee is a Memphis-headquartered community bank with branches across the Mid-South offering personal, business, and mortgage banking. It competes with Bank3 in the Memphis MSA for retail and small business clients.
• Evolve Bank & Trust: Evolve Bank & Trust is a Memphis-headquartered community bank serving the Mid-South with personal banking, business banking, treasury management, and mortgage services. It competes directly with Bank3 in the Memphis metro for retail deposits, small business banking, and treasury management clients (several Bank3 staff, such as Brad Pannell and Donna Penrod, joined from Evolve).
• Renasant Bank: Renasant Bank (formerly Metropolitan Bank in TN) is a community bank with a strong Memphis and DeSoto County (Mississippi) presence that competes directly with Bank3 in those geographies. Multiple Bank3 team members (including Holly Paige, Maquecia Crumb, Susan Hooten) joined from Renasant/Metropolitan, showing direct talent and customer overlap.
• Pinnacle Bank: Pinnacle Financial Partners is a Nashville-headquartered community/commercial bank with a strong Tennessee franchise that competes with Bank3 in Memphis, Nashville (Franklin mortgage lending office), Jackson, and Union City markets. Several Bank3 commercial lenders (e.g., Tim Martin) joined directly from Pinnacle, indicating active talent and client overlap.
• Reelfoot Bank: Reelfoot Bank is a Union City, TN-based community bank serving Obion County and the Northwest Tennessee market. Bank3's Union City banking center directly competes with Reelfoot in the same primary market.
• Bank of Bartlett: Bank of Bartlett is a Tennessee-based community bank serving the Memphis metro including Bartlett and surrounding suburbs. It competes directly with Bank3 for retail deposits, small business checking, and consumer lending in the greater Memphis MSA.

Broad incumbents

• First Horizon Bank: First Horizon is the largest Memphis-headquartered bank with a full Mid-South community and commercial banking franchise spanning Tennessee, Mississippi, and beyond. Bank3 competes head-to-head with First Horizon for SMB and retail clients in the Memphis MSA but at a much smaller, more relationship-driven scale.
• Simmons Bank: Simmons Bank is an Arkansas-based regional bank that acquired Triumph Bank in 2021 and is now a direct competitor in Memphis and across Tennessee/Mississippi. Critically, Bank3 has recruited heavily from Triumph/Simmons (CEO Chase, multiple lenders and operations staff), and competes head-to-head for the same commercial and SMB relationships.
• Trustmark National Bank: Trustmark is a Mississippi-headquartered regional community/commercial bank serving Tennessee, Mississippi, and Alabama. It competes with Bank3's DeSoto County Banking Center in Southaven and for retail/SMB deposits across the broader Memphis-Mississippi corridor.
• Cadence Bank: Cadence Bank is a regional commercial bank with deep Tennessee/Mississippi roots (formerly BancorpSouth) that competes with Bank3 for mid-market and small business clients in the Mid-South. Bank3 competes against Cadence on treasury management, commercial lending, and SMB deposit gathering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bank3media
• LinkedInlinkedin.com/company/bank3memphis

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds1 record

Investors1 record

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 Bank3