What Citizens State Bank does

Citizens State Bank (CSB) is an FDIC-insured, independently held Wisconsin community bank founded in 1904, headquartered in Hudson, Wisconsin, and operating five branch locations across Western Wisconsin (Hudson, Roberts, Woodville, Menomonie, Elmwood) with a Community Reinvestment Act assessment area spanning eight counties including the Twin Cities Metro. The bank serves individual consumers and small-to-medium businesses with a full-service personal and commercial banking franchise: personal checking accounts (Free, 50+ Interest, Benefits, Premium Interest), savings and money market accounts, CDs (including 10-month and 20-month Rule Breaker CDs at 3.42% and 3.81% interest rates respectively), HSAs, IRAs, residential mortgages, home equity, construction/land, auto and personal loans, and business loans (commercial real estate, equipment, agricultural), plus treasury management, merchant services, and Positive Pay fraud prevention for business clients.

Underlying the franchise is a partner-led digital banking ecosystem rather than an in-house proprietary platform: the CSB iBank mobile app (iOS/Android), web-based Online Banking Suite, 24-hour Telebank line, mobile check deposit (same-day processing before 7pm), Apple Pay/Google Pay tokenized debit card integration, and the Rapid Transfer service which uses Moov infrastructure on top of Mastercard Send and Visa Direct card rails to deliver real-time account-to-account transfers at 0.75% (inbound) and 1.75% (outbound) fees. The My Financial Health add-on offers Experian/Equifax/TransUnion credit monitoring with VantageScore 3.0 scoring and dark web surveillance, available free with basic features and at $8.99/month for the premium tier. All AI/ML-adjacent functionality (credit scoring, identity monitoring) is sourced from third-party bureaus rather than developed in-house.

Revenue mechanics combine traditional net interest income from lending (the dominant stream) with deposit account service charges (e.g., $6/month Premium Interest Checking fee below $1,500 balance, $15/month money market fee below $2,500), transaction fees (ATM, wire, stop payments, overdraft), subscription revenue (Benefits Checking at $6.95/month bundling cell phone protection, identity theft resolution, accidental death insurance, and discounts; My Financial Health premium at $8.99/month), and referral income from Elan VISA business credit card partnership and MoneyPass ATM network access. Distribution blends a community-focused relationship model (5 branches, local sponsorships including Pepper Fest Parade, UFO Days, Roberts Lions Business of the Year 2025) with digital acquisition channels including online account opening via LendSmart and loanspq.com integration, social media presence (Facebook, Instagram, LinkedIn), and a referral program offering branded gifts (Mr. Bar-B-Q Brush) for new checking account referrals.

Name

Citizens State Bank

Legal name

Citizens State Bank

Website

https://csbnet.net

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

101–250 employees

Short description

Citizens State Bank is an FDIC-insured Wisconsin community bank founded in 1904, operating five branches across Western Wisconsin and Eastern Minnesota to serve individual consumers and small-to-medium businesses with deposit accounts, mortgage and consumer loans, business lending, and a partner-integrated digital banking suite.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

Keywords

• Community banking services
• Retail banking
• Mortgage lending
• Digital banking
• Small business banking

Headquarters

HQ city

Hudson

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue stream from originating and servicing mortgage loans (first and second home loans, construction/land loans, home equity products), auto loans, personal loans, and business loans (commercial real estate, equipment leasing, agricultural loans). Interest rate environment directly impacts this revenue stream.
2. Deposit Account Fees and Charges: Monthly service charges on certain account types when minimum balance requirements are not met. Examples include $5 monthly charge for savings accounts below $100 balance, $6 monthly charge for Premium Interest Checking below $1,500 balance, and $15 monthly charge for money market accounts below $2,500 balance.
3. Transaction and Service Fees: Fees for various banking services including ATM usage (for out-of-network ATMs), wire transfers, stop payments, overdraft protection services, cashier's checks (free for certain account holders), and safe deposit box rental.
4. Premium Account Subscriptions: Monthly subscription fees for premium account features including Benefits Checking at $6.95/month for Cell Phone Protection, Roadside Assistance, CyberScout Identity Theft Resolution, $10,000 Accidental Death Insurance, and Shopping/Travel/Entertainment Discounts.
5. Credit Card Partnership: Revenue sharing arrangement with Elan VISA for business credit cards. The bank refers customers to Elan for credit card products, generating referral or commission income.
6. Transfer Fees: Transaction fees for Rapid Transfer service: 0.75% of transfer amount (minimum $0.50) for inbound transfers using card rails, and 1.75% of transfer amount (minimum $0.50) for outbound transfers to external institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Citizens State Bank is an independent community bank that accepts consumer and business deposits (checking, savings, money market, CDs, HSAs, IRAs) and originates loans (home mortgages, home equity, construction/land, auto, personal, commercial real estate, equipment, and agricultural). The bank operates five Wisconsin branches and delivers its services through an integrated digital banking platform with mobile app, online banking, mobile deposit, real-time Rapid Transfer money movement, and identity/credit protection tools.

Product overview

Citizens State Bank offers a comprehensive community banking platform with both core deposit/loan products and a robust digital banking suite. The digital offerings include the Online Banking Suite as the central hub, supplemented by the Mobile App for iOS and Android, Mobile Deposit for check imaging, Bill Pay for electronic payments, Rapid Transfer for real-time money movement via card rails, and My Financial Health for credit monitoring. Digital management tools include MyCardRules for debit card controls, the Personal Financial Management System (PFMS) for budgeting, and Electronic Statements for paperless delivery. The bank also provides 24/7 Telephone Banking as an alternative channel. Core banking products span personal checking (Free, 50+ Interest, Benefits, Premium Interest), savings and money market accounts, CDs with special term offerings like Rule Breaker CDs, HSAs, and IRA accounts. Lending products include home mortgages, home equity loans/lines, construction/land loans, auto loans, and business loans (commercial real estate, equipment, agricultural). Business services include Treasury Management, Merchant Services, Business Credit Cards via Elan, and Business Checking accounts. The bank also operates the Citizens Elite 50+ Club as a senior loyalty program with enhanced CD rates and free services.

Differentiator

Problem solved

Functional benefit

Products and services

• Free Checking Account
• 50+ Interest Checking
• Benefits Checking Account
• Premium Interest Checking Account
• Citizens Select Money Market
• Standard Savings Account
• Certificate of Deposit (CD)
• Health Savings Account (HSA)
• IRAFlex CD
• Home Mortgage Loans
• Home Equity Loans
• Construction/Land Loans
• Auto and Personal Loans
• Business Loans
• Business Checking Accounts
• Treasury Management
• Merchant Services
• Business Credit Cards
• Positive Pay Fraud Prevention
• Tap2Local
• Online Banking Suite
• Business Online Banking Suite
• CSB iBank Mobile App
• Rapid Transfer
• Mobile Deposit
• Bill Pay
• Mobile Wallet Integration (Apple Pay & Google Pay)
• My Financial Health
• Wire Transfers
• Telephone Banking (Telebank)
• Citizens Elite 50 or Better Club

Quantifiable outcome

• Same-day deposit processing for Mobile Deposits approved before 7pm
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core.

• Elan VISAcoreGTM or Marketing PartnerBusiness credit card partnership providing business card solutions for small businesses, large corporations, and everything in between. The bank refers customers to Elan VISA for credit card products, with Elan handling card issuance, servicing, and transaction processing.
• MoneyPasscoreChannel Partner/ Reseller/ DistributorATM network partnership providing nationwide ATM access for Citizens State Bank customers. Customers can withdraw cash from MoneyPass ATMs across the country without incurring additional fees, expanding the bank's physical access footprint beyond its five branch locations.
• ExperiancoreTechnology or IntegrationCredit monitoring and scoring partnership providing VantageScore 3.0 credit scores, credit monitoring with alerts from all three bureaus (Experian, Equifax, TransUnion), and credit education resources through the My Financial Health platform.
• Apple Pay and Google PaycoreTechnology or IntegrationDigital wallet integration enabling customers to add their Citizens State Bank debit cards to Apple Pay and Google Pay wallets for secure contactless payments in stores, in apps, and online using tokenization technology.
• Mastercard Send / Visa DirectcoreTechnology or IntegrationCard rails network partnerships enabling real-time money movement through Rapid Transfer service. These networks process transfers instantly rather than traditional 1-2 day ACH transactions, allowing 24/7/365 money transfers between accounts.
• MoovcoreTechnology or IntegrationPlatform partnership enabling the Rapid Transfer money movement feature within online banking. Moov facilitates real-time card-based transfers using the underlying Mastercard Send and Visa Direct networks.
• VantageScorecoreTechnology or IntegrationCredit scoring methodology partnership providing VantageScore 3.0 credit scores through the My Financial Health platform. The scoring model considers payment history (40%), utilization (20%), balances (11%), depth of credit (21%), recent credit (5%), and available credit (3%).

Scale indicators3 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Nicolet National Bank: Wisconsin-headquartered community bank with similar footprint across Northern Wisconsin and the Green Bay region; comparable community banking model with personal/business banking, mortgage lending, and digital channels—directly analogous to Citizens State Bank's go-to-market.
• North Shore Bank: Wisconsin community bank headquartered in Brookfield serving the Milwaukee metro and surrounding communities; similar size and product mix (checking, savings, mortgage, business banking) makes it a close analog to Citizens State Bank's model.
• Waukesha State Bank: Independent Wisconsin community bank serving the Waukesha County market with personal, business, and mortgage banking; comparable in scale, branch count, and community-bank positioning to Citizens State Bank.
• Commerce State Bank: Wisconsin-based community bank serving the greater West Bend and Milwaukee suburbs; comparable community bank profile with full-service personal and business banking products analogous to Citizens State Bank's offering.
• Highland Bank: Minnesota-based community bank serving the Twin Cities Metro with personal and business banking; directly comparable community-bank scale and product offering within the same Eastern Minnesota geography where Citizens State Bank operates its Hudson/Roberts branches.

Broad incumbents

• Associated Banc-Corp: Green Bay-headquartered regional bank with extensive Wisconsin and Minnesota branch presence; offers overlapping consumer, mortgage, and business banking but at significantly larger scale—sets the competitive ceiling for community banks like Citizens State Bank in overlapping markets.
• BMO Harris Bank: Major regional bank with deep Wisconsin and Eastern Minnesota presence, including the Twin Cities Metro; competes for the same consumer deposit and mortgage customers as CSB but operates at national-bank scale with broader product sets.
• Bremer Bank: Mid-size regional bank with strong Minnesota and Wisconsin presence including the Twin Cities Metro area; offers overlapping community banking, mortgage, and business services in markets where Citizens State Bank operates.

Regional players

• Lake City Bank: Indiana-headquartered community bank widely cited as a top-performing community bank with similar relationship-based model and digital enhancements; operates in a different geography but exemplifies the operating playbook Citizens State Bank aspires to.
• Bell Bank: Upper Midwest community bank (headquartered in Fargo, ND) with full-service personal, business, and mortgage banking; similar relationship-driven community bank model with growing digital capabilities, though operating in a different geography than Citizens State Bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/csbcitizensstatebank
• LinkedInlinkedin.com/company/citizens-bancshares-inc.
• Instagraminstagram.com/citizens.state.bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

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 Citizens State Bank