Lea County Bancshares

What Lea County Bancshares does

Lea County Bancshares is the privately held parent of Lea County State Bank (LCSB), a community bank headquartered in Hobbs, New Mexico, and operating two branches — Hobbs (main office at 1017 N. Turner) and Lovington (320 S Main St), both equipped with Interactive Teller Machines. Chartered on November 2, 1928, LCSB is self-described as the only locally owned bank in Lea County, having been returned to local investor ownership in September 1991 after a period as First Interstate Bank of Lea County. The bank employs 60+ people and serves individual consumers, small and mid-size businesses, and a national niche of Soaring Society of America members seeking specialized sailplane financing.

The product set spans personal banking (Preferred/Preferred Plus/Golden Value/Second Chance checking, savings, money market, CDs, IRAs, consumer loans including auto, boat, RV, vacation, HELOC, mortgages, and sailplane financing), business banking (Basic, Plus, and Account Analysis business checking; business savings, money market, and CDs; commercial lending including land, construction, real estate, lines of credit, and equipment leasing), and digital services (iOS/Android mobile banking app, online banking at my.onlinelcsb.com, video banking via Eltropy, Apple Pay/Google Pay/Samsung Pay digital wallets, Zelle P2P, telephone banking, and merchant services). Technology is delivered through a third-party core banking platform with proprietary front-end channels, a digital lending portal (APP.prod.digitallending.online/onlinelcsb), and ecosystem partnerships with MoneyPass (37,000+ no-surcharge ATMs), IntraFi Network (CDARS for large-deposit FDIC coverage), Harland Clarke (gift cards), and ZixMail (encrypted email). A major online banking system upgrade was completed on July 18, 2022.

The revenue model is a traditional bank net-interest-income-plus-fee model: primary revenue comes from the spread between loan interest (consumer, mortgage, sailplane, commercial) and deposit interest, supplemented by transaction fees (NSF/overdraft at $32/item, domestic wires at $30, foreign wires at $65), merchant services and interchange revenue (LCSB Business Rewards Visa, Visa gift cards at $4.99), CDARS placement fees, and ancillary services (safe deposit boxes, coin counting, notary). GTM is a hybrid of branch-led relationship banking and direct-to-consumer digital onboarding via openanywhere.onlinelcsb.com. Customers are acquired primarily through community presence (top-five United Way of Lea County contributor, sponsor of 50+ local organizations), branch walk-ins, referrals, organic website traffic driven by 50+ financial calculators, and the BankNotes newsletter.

Name

Lea County Bancshares

Legal name

Lea County State Bank

Website

https://onlinelcsb.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

51–100 employees

Short description

Lea County Bancshares is the private holding company of Lea County State Bank, a locally owned community bank founded in 1928 and headquartered in Hobbs, New Mexico. It offers consumer and business banking, mortgages, commercial lending, sailplane financing, cash management, and digital banking across two Lea County branches.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro industry

PRIMARYFSABAAAC

Credit Cards & Revolving Credit

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

SECONDARYFSAKADAF

Recreational Vehicle (RV) Finance

Financial & Insurance/Lending & Consumer Finance/Auto Lending & Vehicle Finance

Keywords

• Community banking services
• Consumer deposit accounts
• Commercial lending products
• Mortgage loan origination
• Merchant card processing

Headquarters

HQ city

Hobbs

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income (Loans & Deposits): Primary revenue stream generated from the spread between interest earned on loans (consumer, commercial, mortgage, sailplane, and CD-secured loans) and interest paid on deposits (checking, savings, money market, CDs, and IRAs). Deposit rates are publicly disclosed on the bank's rates page.
2. Deposit & Account Service Fees: Fee income from NSF/overdraft fees ($32.00 per item), wire transfer fees ($30 domestic outgoing, $65 foreign outgoing, $40 incoming), account research and reconciliation ($25/hour), dormant account charges ($10/month after 24 months), and notary fees for non-customers ($5.00).
3. Merchant Services: Credit card processing revenue from local business customers. The bank provides point-of-sale terminals with 24/7 technical support and local customer service.
4. Business Credit Card (LCSB Extra Rewards): Visa business credit card generating interchange revenue. Earns 1 LCSB Rewards point per $1 spent on everyday purchases. No annual fee, managed via 360Control Business Card Management system.
5. Gift Cards: Visa gift card sales at branch lobby tellers. Cards available for purchase at $4.99 per card, with minimum load of $25 and maximum web order load of $750.
6. CDARS / IntraFi Network Deposits: Fee income from Certificate of Deposit Account Registry Service (CDARS) placements through IntraFi Network. Minimum $50,000 deposit required. LCSB relationship checking account required.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels6 records

Core offering

Lea County State Bank, the operating bank of Lea County Bancshares, is a community bank offering deposit accounts (checking, savings, money market, CDs, IRAs, CDARS), consumer loans (auto, boat, RV, vacation, sailplane, mortgage, HELOC), commercial lending (land, construction, real estate, lines of credit, equipment leasing, business credit card), cash management with ACH payroll processing, merchant card processing, and Visa debit and gift cards to residents and businesses in Lea County, New Mexico and a national niche market of Soaring Society of America members.

Product overview

Lea County State Bank operates as a traditional community bank offering a unified suite of deposit, lending, and digital banking products. The bank provides personal banking services (checking, savings, CDs, IRAs, consumer loans, mortgages, and sailplane financing) and business banking services (business checking, savings, commercial lending, merchant services, and cash management). Digital banking is delivered through a mobile app, online banking platform, video banking via Eltropy, and digital wallet integrations with Apple Pay, Google Pay, and Samsung Pay. The bank also provides ancillary services including financial calculators, telephone banking, safe deposit boxes, and coin counting. No AI or machine learning capabilities are offered. All products are designed for traditional banking needs with local decision-making emphasized.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobile Banking App iOS and Android mobile application enabling secure account access, mobile check deposit, e-statements, fund transfers, bill payment, debit card on/off toggle, travel alerts, security alert management, and branch/ATM location finder for Lea County State Bank customers.
• Online Banking Web-based online banking platform providing secure account access, transaction history, deposit and withdrawal confirmation, fund transfers, loan payments, bill payment with weekly through semi-annual frequencies, and stop payment requests.
• Preferred Checking Personal checking account with $50 minimum opening deposit, unlimited check writing, Visa Debit Card, online and mobile banking, and no minimum daily balance requirement.
• Preferred Plus Checking NOW Interest-bearing personal checking account with unlimited check writing and e-statements; $10 monthly fee waived when balance exceeds $1,000.
• Golden Value Checking NOW Personal checking account for customers aged 62 and older, offering a free annual box of LCSB checks and free cashier's checks; $4 monthly fee if balance falls below $1,000.
• LCSB Second Chance Checking Alternative checking account with a flat $10 monthly fee, designed for customers rebuilding their banking relationship; includes a debit card with ATM access only.
• Consumer Savings Account Personal interest-bearing savings account requiring $50 to open; $2 monthly service fee if daily balance falls below $200.
• Consumer Money Market Account Personal money market account with check writing privileges and tiered interest rates based on balance; $10 monthly fee waived above $1,000 daily balance.
• Consumer Certificates of Deposit Time deposits with $1,000 minimum opening, a range of maturity options, automatic renewal, and early withdrawal penalties.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings in Roth and Traditional IRA forms with monthly compounding, $100 minimum deposit, and rollover support.
• CDARS Deposits (IntraFi Network) Certificate of Deposit Account Registry Service placements through IntraFi Network providing FDIC insurance coverage above the standard $250,000 limit for deposits of $50,000 or more.
• Visa Debit Card No-annual-fee Visa debit card accepted at over 11 million locations worldwide, linked to the customer's LCSB checking account.
• Visa Gift Cards Visa gift cards available for purchase at branch teller locations with a $4.99 card fee, minimum load of $25, and maximum web order load of $750; not valid for international use.
• Consumer Loans Personal loan offerings including auto loans, CD-secured loans, Ready Reserve line of credit, boat/motorcycle/RV loans, vacation loans, and Home Equity Line of Credit.
• Sailplane Financing Specialized new and used sailplane (glider) financing offered nationwide in partnership with the Soaring Society of America for over 30 years from the bank's Hobbs, NM headquarters.
• Mortgage Loans Residential mortgage loan origination handled through an external mortgage web center and digital lending application portal.
• Home Equity Line of Credit Revolving credit lines secured by residential home equity, with multiple draw period and repayment term options disclosed in customer agreements.
• Basic Business Checking Small business checking for entities clearing fewer than 150 checks per statement period; no service charge if $1,000 minimum daily balance is maintained.
• Business Plus Checking NOW Business checking for sole proprietorships and non-profits clearing fewer than 150 checks per statement period; no service charge if $1,500 minimum daily balance is maintained.
• Business Account Analysis Checking Business checking for entities clearing more than 150 checks per statement period, with earnings credit allowance used to offset account expenses.
• Business Savings Interest-bearing business savings account with $100 minimum opening deposit; $2 monthly fee if daily balance falls below $200.
• Business Money Market Business money market account with tiered interest rates based on balance bands from $0.01 to over $100,000; $10 monthly fee waived above $1,000 daily balance.
• Business Certificates of Deposit Business time deposits with $1,000 minimum opening, a wide range of maturity options, and early withdrawal penalties.
• Commercial Lending Commercial loan products including land loans, construction loans, commercial lines of credit, real estate purchase financing, accounts receivable management, and equipment leasing for local businesses.
• LCSB Business Rewards Credit Card No-annual-fee Visa business credit card earning 1 LCSB Rewards point per $1 spent, managed through the 360Control Business Card Management dashboard.
• Cash Management Online banking solution for commercial customers supporting ACH origination, fund transfers, batch payroll file uploads for up to 15,000 payees, employee access controls, and check verification fraud controls.
• Merchant Services Credit card processing for local businesses including point-of-sale terminal provision, 24/7 terminal technical support, local customer service, and PCI compliance resources.
• Safe Deposit Box Branch vault storage for valuables such as deeds, titles, stocks, bonds, jewelry, birth certificates, and computer backups, available in multiple sizes with associated rental pricing.
• Coin Counting Coin sorting and counting machine processing over 4,000 coins per minute, offered free to LCSB deposit account customers during lobby hours with a small fee charged to non-customers.

Quantifiable outcome

• Local loan decisions with faster turnaround compared to larger institutions that route decisions through regional or national centers.
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Soaring Society of America (SSA)coreStrategic or Co-development Partner · 1 January 1993Lea County State Bank has partnered with the Soaring Society of America since approximately 1993, providing specialized sailplane (glider) financing for new and used planes. LCSB representatives treat customers with respect and function as knowledgeable partners within the SSA community. The bank is located in Hobbs, NM, which is the headquarters of the SSA. The bank has enjoyed this partnership for over 30 years.
• MoneyPass (ATM Network)minorChannel Partner/ Reseller/ DistributorLCSB participates in the MoneyPass ATM network, providing its customers access to over 37,000 no-surcharge ATMs nationwide. This expands the bank's ATM footprint far beyond its two physical branches.
• Costello Insurance / SSA Group Insurance PlanminorChannel Partner/ Reseller/ DistributorThe bank refers sailplane financing customers to Costello Insurance and the SSA Group Insurance Plan for specialized glider/sailplane insurance coverage, completing the financing-to-insurance offering for aviation customers.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pioneer Bank: New Mexico community bank headquartered in Roswell with a branch network across eastern NM, directly competing with LCSB for Lea-County-adjacent consumer and small-business deposits and loans.
• Bank of the Southwest: Roswell, NM-based community bank serving small businesses and consumers in eastern New Mexico — overlapping geography, customer base (oil-and-gas-adjacent SMBs), and product mix with LCSB.
• Western Commerce Bank: Carlsbad, NM community bank with similar Permian Basin / southeastern New Mexico customer profile and comparable deposit/lending products to LCSB.
• First American Bank: Artesia, NM community bank operating in the same southeastern New Mexico / Permian Basin corridor as LCSB, with overlapping consumer and commercial banking offerings.

Broad incumbents

• Wells Fargo: Large national bank with branches in Hobbs and across New Mexico; competes with LCSB on deposits, mortgages, and small-business banking as part of a much broader portfolio.
• JPMorgan Chase: National retail and commercial bank expanding in the Southwest; competes with LCSB on deposits, digital banking, and consumer credit within and beyond Lea County.
• U.S. Bank: Large regional bank with New Mexico presence providing consumer deposits, mortgages, and small-business banking that overlap with LCSB's product set.
• BOK Financial: Regional commercial bank with energy-sector lending expertise in the Permian Basin; overlaps with LCSB on commercial deposits and small-business lending in oil-and-gas markets.

Emerging players

• Ally Bank: Online direct bank with no NM branches, offering high-yield savings and consumer lending products that compete for the rate-sensitive portion of LCSB's deposit base.

Others

• SouthState Bank: Southeastern U.S. community bank holding company that has acquired multiple community banks; representative of the type of consolidator that LCSB could be a target for in a sale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/lea.county.state.bank
• LinkedInlinkedin.com/company/lea-county-state-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Lea County Bancshares