Dieterich Bank

What Dieterich Bank does

Dieterich Bank is a privately held, Illinois state-chartered community bank headquartered in Effingham, Illinois, operating 14 branches across central and southern Illinois plus a commercial loan production office in South County St. Louis. Originally chartered on November 15, 1909 as the First National Bank of Dieterich, the bank converted to a state bank charter on June 25, 2018 and rebranded to Dieterich Bank in September 2015. As of 2024, the bank holds approximately $1 billion in assets, employs approximately 190 people, and serves individual consumers, small-to-medium businesses, agricultural operations, and seniors primarily in Effingham, the surrounding south-central Illinois counties, and the Metro East corridor along with adjacent Missouri markets.

The bank operates a full-service consumer and commercial banking platform built on standard digital infrastructure (CSI digital banking with iOS/Android mobile apps and 24-hour telebanking) layered over a physical branch distribution model. Consumer products include six checking variants (Basic Green, Now Green, Dream Green 55+, Cash Back, Extreme Green high-yield, and Super Green Savers for children), savings and money-market accounts, a Health Savings Account, mortgages (conventional, USDA, FHA, VA, HELOC, refinance), auto and recreational vehicle loans, personal loans, and consumer credit cards offered through an Elan Financial Services partnership. Business and agricultural banking includes business checking, savings, and money market accounts, commercial real estate loans, business lines of credit, letters of credit, agricultural equipment / real estate / operating lines of credit, business credit cards, merchant services, and a treasury management suite (Positive Pay fraud detection, Remote Deposit Capture, Same Day ACH, wire transfers, Zero Balance and Sweep accounts, ICS/CDARS via IntraFi, and Autobooks for receivables).

Dieterich Bank generates revenue primarily through net interest income from its loan portfolio (personal, mortgage, auto, commercial, ag) and deposit spread, supplemented by transaction-based fees (interchange on debit cards via mobile wallet integrations with Apple Pay, Google Pay, and Samsung Pay; overdraft and account fees), subscription-style fees on business treasury management services, and interchange/portfolio revenue from Elan-issued credit cards. Account pricing spans no-fee basic checking (Basic Green), interest-bearing checking with activity requirements (0.08% APY Now Green, 4.00% APY Extreme Green up to balance caps), and senior discounts (0.30% APY Dream Green). Deposit and loan growth has been driven by a hybrid strategy combining de novo branch openings (Lake Sara 1999, Effingham 2008, Edwardsville 2021, Downtown Waterloo 2024) with two completed acquisitions (First State Bank of Red Bud in January 2012 adding $95 million in assets; five First Bank branches in August 2020 adding approximately $221 million in deposits).

Name

Dieterich Bank

Legal name

Dieterich Bank

Website

https://dieterichbank.com

Company type

Private

Founded year

1909

Operating status

Operating

Headcount range

101–250 employees

Short description

Dieterich Bank is a privately held Illinois-chartered community bank operating 14 branches across central and southern Illinois plus a St. Louis loan production office, serving individual consumers, small-to-medium businesses, agricultural operations, and seniors with deposit, lending, mortgage, credit card, and treasury management products since 1909.

Ownership category

akta.pro rank

Headquarters

HQ city

Effingham

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Traditional bank lending including personal loans, mortgages, business loans, and agricultural loans. Generates interest income from loan portfolios.
2. Deposit Account Fees and Interest: Interest-bearing checking and savings accounts, CDs. Monthly fees on accounts (waived with minimum balances), overdraft fees, and other account-related charges.
3. Treasury Management Services: Business banking services including fraud prevention (Positive Pay), payment solutions (ACH, wire transfers), and receivable solutions
4. Credit and Debit Card Revenue: Credit card partnerships generate interchange revenue; debit card usage fees

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Dieterich Bank is a community bank that accepts consumer and business deposits, originates personal, mortgage, auto, recreational vehicle, commercial real estate, agricultural, and business loans, and provides payment and treasury management services (Positive Pay, ACH, wire, merchant card processing, Autobooks invoicing, sweep and zero-balance accounts). Revenue is generated from interest earned on loans and deposit balances, deposit account fees, interchange on debit and credit cards, and service fees on treasury and merchant products.

Product overview

Dieterich Bank is a community bank offering a unified portfolio of consumer and business banking products. Consumer offerings include six Green Checking variants (Basic Green, Now Green, Dream Green, Cash Back, and Extreme Green with BaZing Benefits), multiple savings accounts (Save Green, Super Green Savers, Christmas Club, Money Market Plus), Health Savings Accounts, consumer credit cards through Elan Financial Services, debit cards with mobile wallet integration, and personal loans including auto, recreational vehicle, and mortgage financing with conventional, USDA, FHA, and VA options plus HELOC and refinance products. Business banking encompasses checking and savings accounts, commercial real estate loans, lines of credit, letters of credit, agricultural lending (equipment, real estate, operating lines), business credit cards, merchant services for card processing, and treasury management services including Positive Pay fraud protection, Remote Deposit Capture, Same Day ACH, wire transfers, Autobooks invoicing and accounting, Zero Balance and Sweep accounts, and IntraFi ICS/CDARS for FDIC coverage on high balances. All segments are supported by a digital banking platform comprising online banking, mobile banking app, telebanking, and mobile check deposit.

Differentiator

Problem solved

Functional benefit

Products and services

• Basic Green Checking Unlimited no-monthly-fee personal checking account with $25 minimum initial deposit, free debit card, eStatements, and digital banking access.
• Now Green Checking Interest-earning personal checking account offering 0.08% APY with a $1,000 minimum balance; $5 monthly fee waived with minimum balance.
• Dream Green Checking Interest-earning checking account for customers aged 55+ offering 0.30% APY with a $2,500 minimum daily balance, free checks, banking discounts, and $5 safe deposit box discount.
• Cash Back Checking Rewards checking account paying 2.00% cash back on debit card purchases up to $10 per month, requiring 15 debit card transactions per statement cycle and direct deposit or recurring ACH.
• Extreme Green Checking High-yield personal checking account paying up to 4.00% APY on balances up to $10,000 with up to $15 monthly ATM refunds and BaZing Benefits (roadside assistance, cell phone protection, local discounts); requires qualifying debit card activity and direct deposit or ACH.
• Save Green Savings Everyday personal savings account earning interest, requiring a $25 minimum deposit to open and open to any age.
• Super Green Savers Children's savings account for ages 0-12 with $0 minimum to open, 0.50% APY, and deposit rewards; auto-converts to Save Green at age 13.
• Christmas Club Savings Holiday savings account earning interest with $2 minimum to open, available to ages 16+.
• Money Market Plus Higher-yield savings account for larger balances with $1,000 minimum to open, including debit card and check access.
• Health Savings Account (HSA) Tax-advantaged savings account for qualified medical expenses, available to individuals enrolled in a High Deductible Health Plan.
• Green Savings Duo Combination savings and CD product pairing high-yield savings (0.55% APY, $25 minimum) with a 16-month CD (0.85% APY, $5,000 minimum).
• Extreme Green Savings High-yield savings add-on account earning up to 4.00% APY on balances up to $20,000 when paired with Extreme Green Checking.
• Consumer Credit Cards Line of Visa credit cards issued through Elan Financial Services, including Platinum, Everyday Rewards+, Max Cash Preferred, Travel Rewards+, Reserve Rewards+, College Real Rewards, Max Cash Secured, and Secured Card options.
• Debit Cards EMV chip contactless debit cards with Instant Issue at account opening, mobile wallet integration (Apple Pay, Google Pay, Samsung Pay), and card on/off toggling through digital banking.
• Personal Loans Fixed-rate consumer loans for unexpected expenses, vacations, debt consolidation, and other personal needs, with local decision-making and flexible terms.
• Auto Loans Vehicle financing including private party auto loans, refinancing, and fixed-rate auto loans with pre-approval available before dealership visits.
• Recreational Vehicle Loans Financing for boats, jet skis, motor homes, and ATVs with fast local approvals and competitive rates.
• Mortgage Loans Home loans including conventional fixed-rate mortgages (15-, 20-, and 30-year terms), USDA loans (no down payment for qualifying rural borrowers), FHA loans (as low as 3.5% down), VA loans (100% financing for qualified veterans), lot loans, and construction loans.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for home improvements, debt consolidation, vehicle purchases, or other expenses, with funds accessible as needed.
• Mortgage Refinance Refinancing options to replace existing mortgages with new loans offering lower rates, shorter terms, or switches between adjustable- and fixed-rate products.
• Business Checking Business checking account with no minimum balance requirements, online banking access, and a free business debit card.
• Business Interest Checking Interest-earning business checking account with a $2,500 minimum balance and a low monthly fee, including online banking access and a free business debit card.
• Business Savings Business savings account earning interest with online banking access and anytime fund availability.
• Business Money Market Higher-yield liquid business investment account for excess cash balances with a $1,000 minimum balance.
• Commercial Real Estate Loans Commercial property financing including construction loans, fixed- or variable-rate term loans, and capital improvement loans for facility upgrades.
• Business Lines of Credit Flexible revolving credit for managing cash flow, covering unexpected expenses, and seizing growth opportunities without reapplying for loans.
• Letters of Credit Secure payment guarantees for international and domestic trade transactions that ensure goods or services delivery and expand business opportunities.
• Ag Equipment Loans Financing for agricultural machinery and technology to increase farm efficiency and productivity.
• Ag Real Estate Loans Farmland purchase and refinancing loans for expanding agricultural operations or refinancing existing property.
• Farm Operating Line of Credit Revolving credit for agricultural operating costs and unexpected expenses, providing ongoing access to funds without individual loan applications.
• Business Credit Cards Visa business credit cards issued through Elan Financial Services with fraud protection, transaction audit trails, multi-user access, and spending limit controls.
• Merchant Services Credit and debit card payment processing with point-of-sale systems, mobile payments, countertop solutions, virtual terminals, and e-commerce technology offering same-day funding and next-day availability.
• Positive Pay Check fraud detection service cross-referencing checks presented for payment against issued check lists, flagging unauthorized transactions for business review.
• Remote Deposit Capture Electronic check deposit service allowing businesses to scan and upload check images from their office, improving funds availability and reducing bank trips.
• Online Wire Transfers Wire transfer initiation within the online banking portal, eliminating the need to complete paper forms at the bank branch.
• Same Day ACH Same-day ACH payment processing with file submission deadlines at 10:00 am or 2:30 pm for credit into recipient accounts by close of business.
• Autobooks Receivable & Accounting Solution Integrated accounting software allowing businesses to accept electronic payments, send digital invoices, manage and track payments, and organize finances via Dieterich Bank online and mobile banking.
• Zero Balance Account (ZBA) Business checking account maintaining a zero balance linked to a master account, automatically transferring exact amounts needed for purchases and sweeping deposits back to the master account.
• Sweep Account Automated savings service sweeping excess checking balances above a target limit into higher-yield money market accounts and returning funds when balances fall below target to prevent overdrafts.
• ICS and CDARS IntraFi network services enabling FDIC insurance coverage on business deposits exceeding $250,000 by placing funds in money market or CD accounts at multiple IntraFi member banks through a single banking relationship.
• Online Banking Platform Web-based digital banking platform providing account balance review, transaction history, check imaging, bill payment, external transfers, eStatements, alerts, card management, and stop payments.
• Mobile Banking App iOS and Android smartphone application providing on-the-go account access, balances, bill payment, fund transfers, mobile check deposit, and card management.
• Mobile Check Deposit Smartphone feature allowing secure check deposits by photographing checks through the mobile banking app, eliminating bank branch visits.
• Telebanking 24-hour telephone banking service providing balance inquiries and recent transaction information accessible any time via 1-877-245-2265.
• Treasury Management Services Comprehensive cash flow, fund strategy, and financial risk management services for businesses combining fraud prevention, payment solutions, receivable solutions, and liquidity management.

Quantifiable outcome

• Named Best Place to Work in Illinois for 6 consecutive years
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Elan Financial ServicescoreTechnology or IntegrationPartnered with Elan Financial Services to provide Visa business credit card options for business customers. Elan handles credit card processing and card management services.
• IntraFi (ICS and CDARS)coreTechnology or IntegrationIntraFi network provides FDIC insurance coverage for business deposits exceeding $250,000 limit through ICS (IntraFi Cash Service) and CDARS (Certificate of Deposit Account Registry Service).
• Elan Financial ServicescoreTechnology or IntegrationConsumer and business credit cards offered through Elan Financial Services partnership, providing multiple card options including rewards, travel, and secured cards.

Scale indicators7 records

Recent moves12 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Dieterich-Bank-143922368954202
• LinkedInlinkedin.com/company/dieterichbank
• Instagraminstagram.com/dieterichbank
• Xx.com/dieterichbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds3 records

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 Dieterich Bank