First State Bank

What First State Bank does

First State Bank is a privately held community bank founded in 1884 and headquartered in Winchester, Ohio. It operates 17 banking centers across rural Southern Ohio (13 branches) and Eastern Kentucky (4 branches), serving individual consumers, small-to-medium businesses, agricultural operators, and government and non-profit entities. The bank's product portfolio spans personal and business deposit accounts (including the Kasasa Cash, Kasasa Cash Back, and Kasasa Saver rewards suite), mortgage and consumer lending, commercial real estate and agricultural loans, and treasury management services such as ACH origination, Positive Pay, Remote Deposit Capture, and merchant card services.

The technology stack is conventional for a community bank: an online banking platform with bill pay, a mobile banking app supporting mobile deposit and mobile wallet integration (Apple Pay, Google Pay, Samsung Pay, MasterPass), e-statements with up to 18 months of payment history, and ACH transaction processing. Security relies on 128-bit SSL encryption and firewalls. Digital wallet support and money management software data export indicate standardized third-party integrations rather than proprietary technology development; in-house capabilities focus on local decision-making for loan origination and transaction processing rather than software engineering.

Revenue is generated primarily through net interest income on the loan portfolio (residential mortgages, commercial real estate, agricultural, auto, personal, and business lines of credit) net of interest paid on deposits, supplemented by non-interest fee income from debit/credit cards, merchant card services, treasury management, overdraft (Bounce Protection), and account maintenance. The bank's go-to-market is direct-to-consumer and direct-to-business via its physical branch network, digital banking channels, business development officers, and retail market lenders serving rural Ohio and Kentucky communities. Growth has historically been driven by a combination of organic de novo branches and selective tuck-in acquisitions of community bank branches or whole banks (Oak Hill Financial 2008, First Safety Bank 2016, Inez Deposit Bank 2021).

Name

First State Bank

Legal name

First State Bank

Website

https://fsb4me.com

Company type

Private

Founded year

1884

Operating status

Operating

Headcount range

101–250 employees

Short description

First State Bank is a privately held community bank founded in 1884, operating 17 branches across rural Ohio and Kentucky, offering personal and business deposit accounts, mortgage and commercial lending, agricultural loans, and treasury management services to consumers, small businesses, and local government entities.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), 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

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Personal and business checking
• Commercial and agricultural lending
• Treasury management services
• Digital and mobile banking

Headquarters

HQ city

Winchester

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from loan portfolio including residential mortgages, commercial real estate loans, agricultural loans, auto loans, personal loans, and business lines of credit, offset by interest paid on deposit accounts including checking, savings, money market, and certificates of deposit.
2. Fee-based Income: Non-interest income from various banking services including online banking, bill payment, debit and credit cards, merchant card services, ATM fees, overdraft protection (Bounce Protection), and account maintenance fees.
3. Treasury Management Services: Cash management services for business customers including ACH transactions, Positive Pay fraud protection, remote deposit capture, and merchant card services generating fee income.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels9 records

Core offering

First State Bank is a community bank that accepts deposits (checking, savings, money market, CDs, IRAs, HSAs) and originates loans (mortgages, home equity, construction, auto, personal, business term, commercial real estate, business lines of credit, and agricultural loans) for individuals, small to medium businesses, agricultural operations, and government and non-profit entities across 17 banking centers in Ohio and Kentucky. The bank complements its deposit and lending products with treasury management, merchant card services, and digital banking (online, mobile with mobile deposit, and mobile wallet).

Product overview

First State Bank is a community bank offering a comprehensive suite of banking products and services through 17 banking center locations in Ohio and Kentucky. The bank's portfolio consists of personal and business checking and savings accounts, with flagship products including the Kasasa rewards checking suite (Kasasa Cash, Kasasa Cash Back, Kasasa Saver), various mortgage and lending products, and business treasury management services. Core products are organized around personal banking (checking, savings, lending), business banking (checking, savings, commercial lending), and digital banking (online, mobile, cash management). The bank also provides specialized services including mobile wallet integration, identity protection, and retirement savings accounts. All products are delivered through the bank's own branch network and digital banking platforms, with in-house loan processing and transaction servicing.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa: A rewards-based banking program offering Kasasa Cash checking (5.00% APY on balances up to $15,000), Kasasa Cash Back checking, and Kasasa Saver savings products.
• FSB (First State Bank) Online Banking
• FSB Mobile Banking

Products and services

• Kasasa Cash Checking
• Kasasa Cash Back Checking
• Kasasa Saver
• First Freedom Checking
• Golden Opportunity Checking
• First Premier Checking
• Student Checking
• Elite Business Checking
• Platinum Business Checking
• Small Business Checking
• Commercial Business Checking
• Public Entity Interest Checking
• Non-Profit Interest Checking
• Money Market Savings
• Certificates of Deposit (CDs)
• CDARS (Certificate of Deposit Account Registry Service)
• Insured Cash Sweep (ICS)
• Individual Retirement Accounts (IRAs)
• Health Savings Account (HSA)
• Ohio Homebuyer Plus Savings Account
• Home Mortgage Loans
• Home Equity Line of Credit (HELOC)
• Construction Loans
• Auto Loans
• Personal Loans
• Business Term Loans
• Commercial Real Estate Loans
• Business Lines of Credit
• Agricultural Loans
• Cash Management
• Treasury Management Services
• Merchant Card Services
• Remote Deposit Capture
• Online Banking and Bill Pay
• Mobile Banking with Mobile Deposit
• Mobile Wallet
• Welcome Home Program

Quantifiable outcome

• Earn 5.00% APY on Kasasa Cash Checking balances up to $15,000
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

One partnership is on record.

• KasasacoreTechnology or IntegrationKasasa provides rewards checking account programs including Kasasa Cash (high-yield checking) and Kasasa Cash Back. These products allow First State Bank to offer competitive rewards programs to attract and retain customers with incentive-based checking accounts that pay interest or cash back when qualification requirements are met.

Scale indicators6 records

Recent moves18 records

Expansion highlights6 records

Broad incumbents

• Park National Corporation: Ohio-based community bank holding company operating Park National Bank with branches across Ohio and adjacent states. Comparable as a multi-county community bank serving similar rural and small-metro Ohio markets with consumer and commercial banking products.
• Peoples Bancorp Inc. Marietta, Ohio-based bank holding company operating Peoples Bank with branches across Ohio, Kentucky, and West Virginia. Direct geographic overlap with First State Bank's Southern Ohio and Eastern Kentucky footprint, with comparable consumer, business, and mortgage lending products.
• First Financial Bancorp: Cincinnati-based bank holding company with branches across Ohio, Indiana, and Kentucky. Comparable community bank competitor in the same Southern Ohio and Kentucky markets, offering similar deposit, lending, and treasury management products.
• Huntington Bancshares: Large regional bank holding company headquartered in Columbus, Ohio, with extensive Ohio and Kentucky branch networks. Competes with First State Bank in overlapping Ohio markets for consumer and small business banking, though at substantially larger scale.
• Fifth Third Bank: Major regional bank with dense Ohio and Kentucky branch presence. CEO Michael Pell previously spent 20+ years at Fifth Third Bank, signaling direct competitive familiarity. Competes across consumer, business, and mortgage product lines.

Direct peers

• LCNB Corp: Ohio-based community bank holding company operating LCNB National Bank across Southwest and Central Ohio. Closely comparable in size, community banking model, and rural Ohio market focus with similar deposit and lending product suites.
• Premier Financial Corp: Defiance, Ohio-based bank holding company operating Premier Bank across Ohio, Michigan, and Indiana. Comparable community bank with similar commercial, agricultural, and consumer lending focus in rural and small-metro markets.
• Stock Yards Bancorp: Kentucky-based community bank holding company with operations in Kentucky, Indiana, and Ohio. Comparable community banking model with overlapping Kentucky market presence and similar business banking, treasury management, and wealth services.
• Oak Hill Financial (legacy): Former Jackson, Ohio-based community banking company whose Ripley, Georgetown, and Mt. Orab branches were acquired by First State Bank in 2008. Historical peer indicating direct competitive overlap in Brown County markets.
• Community Trust Bancorp: Pikeville, Kentucky-based community bank holding company with branches across Eastern Kentucky. Direct geographic overlap with First State Bank's Kentucky expansion (Maysville, Inez, Louisa, Warfield) and similar rural community banking model.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FSB_4_Me
• Facebookfacebook.com/fsb4me
• LinkedInlinkedin.com/company/first-state-bank_3
• Instagraminstagram.com/FSB4Me

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 First State Bank