Hoosier Heartland State Bank

What Hoosier Heartland State Bank does

Hoosier Heartland State Bank (HHSB) is an Indiana state-chartered, FDIC-insured community bank headquartered in Crawfordsville and operating as the only bank headquartered in Montgomery County. Formed on April 17, 2009 by the merger of Linden State Bank (est. 1899) and Farmers State Bank (est. 1920), HHSB operates 7 physical branches plus a Virtual Branch serving 9 counties in West Central Indiana and is wholly owned by its holding company, Hoosier Heartland State Bancorp. The bank has been 100% employee-owned through an ESOP since 2002 and employs between 101 and 250 people.

HHSB offers a full-service retail and commercial banking platform: deposit products (checking, savings, money market, CDs, IRAs, debit/credit cards), consumer lending (mortgages, home equity, vehicle, personal, student, credit cards), commercial and agricultural lending (including recognized Top Ag Lender status), and treasury services (cash management, remote deposit capture, wire/ACH, merchant services via Banc Card). Digital delivery is built on Jack Henry's Banno platform with iOS and Android mobile apps, mobile deposit, Apple Pay/Google Pay/Samsung Pay tokenization, HHSB Fraud Watch, enhanced card controls, a PFM tool (My Money Manager), and online loan origination via MeridianLink.

The revenue model is classic community-banking net-interest-income driven, with secondary fee streams from deposit-account services (overdraft, wires, ACH), merchant card processing, and ancillary services (notary, check ordering). Distribution is hybrid: community-led branch banking supplemented by digital self-serve channels, with a marketing posture emphasizing local decision-making, 125-year heritage, employee ownership, and a stated commitment to reinvest 10% of annual net income into the community — more than $2.5 million since 2013.

Name

Hoosier Heartland State Bank

Legal name

Hoosier Heartland State Bank

Website

https://myhhsb.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

101–250 employees

Short description

Hoosier Heartland State Bank is an FDIC-insured, employee-owned community bank headquartered in Crawfordsville, Indiana, operating 7 branches and a virtual branch across 9 West Central Indiana counties and serving consumer, small-business, and agricultural customers with deposit, lending, and treasury services.

Ownership category

akta.pro rank

Headquarters

HQ city

Crawfordsville

HQ country

United States

HQ region

North America

Offices6 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. Interest Income from Lending: Primary revenue from interest earned on loans including commercial loans, agricultural loans, residential mortgages, home equity lines of credit, vehicle loans, personal loans, and credit cards
2. Deposit Account Fees: Fees from deposit accounts including checking, savings, money market, and CD accounts. Includes overdraft protection (bounce protection), wire transfer fees, and ACH transfer fees
3. Service Fees: Various service fees including credit card processing through merchant services, notary services, check ordering, and digital banking services
4. Securities Offering: SEC exempt offering of securities (noted $6,250,000 sold in 2022)

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Hoosier Heartland State Bank is a community bank providing personal and business deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial lending products (mortgages, vehicle loans, agricultural loans, commercial loans, credit cards), digital banking services via mobile and online platforms, and treasury management solutions for businesses and agricultural operations in West Central Indiana.

Product overview

Hoosier Heartland State Bank offers a unified community banking platform combining traditional branch services with comprehensive digital banking capabilities. The core offering includes personal and business deposit accounts (checking, savings, CDs, IRAs), consumer and commercial lending products (mortgages, vehicle loans, agriculture loans, commercial loans, credit cards), and treasury management services. The Digital Banking platform serves as the primary digital interface, integrated with a dedicated Mobile App for iPhone and Android. Additional product modules include Mobile Deposit, Remote Deposit Capture, Cash Management, Merchant Services, and Fraud Watch for fraud prevention. The bank also provides educational resources through Banzai Financial Education and supports digital payments via Apple Pay, Google Pay, and Samsung Pay integrations. Business banking features include ACH Transfers, Wire Transfers, and Merchant Services powered by Banc Card partnership.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking account with Free Rewards Checking features, debit card access, and online account opening for individual banking customers.
• Personal Savings & Money Market Savings and money market deposit accounts for personal banking customers seeking to grow funds.
• CDs & IRAs Certificate of Deposit and Individual Retirement Account products for long-term savings and retirement planning.
• Mortgage Loans Home mortgage financing options including traditional mortgages, USDA loans, VA loans, and jumbo loans for homes exceeding conforming loan limits.
• Home Equity Line of Credit Revolving credit line secured by home equity for home improvements, debt consolidation, vacations, and other financial needs.
• Consumer Loans Consumer loan products including vehicle/recreational vehicle loans, personal loans, credit cards, student loans, and construction loans for individuals.
• Credit Cards HHSB MasterCard credit cards with competitive rates, no annual fees, and local servicing accessible through digital banking.
• Business Checking Business checking accounts with cash management features and online account opening capabilities for commercial customers.
• Business Savings & Money Market Savings and money market deposit accounts for business customers.
• Commercial Loans Commercial lending products for businesses including term loans and lines of credit.
• Agriculture Loans Specialized lending for farmers and agricultural operations including financing for row crop farmers, agribusinesses, grain elevators, and livestock producers.
• Cash Management Online cash management system enabling businesses to monitor accounts, create direct debits, payroll direct deposits, bill payments, and fund transfers with customizable user settings.
• Remote Deposit Capture Web-based check image capture and processing solution enabling commercial clients to deposit paper checks electronically without visiting a branch.
• Merchant Services Payment processing services provided through Banc Card partnership for credit and debit card transactions, authorization, and processing.
• Wire Transfers Domestic wire transfer services for sending and receiving money anywhere in the United States.
• ACH Transfers Automatic fund transfer services for loan payments and deposits between HHSB and other financial institutions.
• Online & Mobile Banking Comprehensive online and mobile banking platform enabling customers to manage accounts, transfer funds, pay bills, deposit checks via mobile device, and chat live with local bankers.
• Debit Cards HHSB MasterCard debit cards with fraud monitoring, digital wallet compatibility, and daily transaction limits.

Quantifiable outcome

• Over $2.5 million in charitable contributions since 2013
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Banc CardcoreTechnology or IntegrationPartnered with Banc Card for transaction authorization, processing, and network services for credit and debit cards. Banc Card provides industry experience and knowledge to recommend reliable payment processing solutions for HHSB business customers.
• Jack Henry Digital (Banno)coreTechnology or IntegrationWebsite and digital banking platform powered by Jack Henry Digital's Banno platform, providing core banking technology, mobile banking apps, and digital account management capabilities.
• BanzaiminorStrategic or Co-development PartnerFinancial education partnership bringing Banzai's free articles, courses, and calculators to HHSB customers. Banzai provides clear, in-depth lessons to help customers understand financial topics.
• MeridianLinkcoreTechnology or IntegrationLoan origination platform provider for online loan applications including vehicle loans, personal loans, credit cards, and mortgages. Enables digital application submission and status tracking.
• ProfitStars (Remote Deposit Capture)coreTechnology or IntegrationWeb-based check image capture solution for commercial clients enabling electronic deposit of paper checks without visiting a branch location.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Centier Bank: Indiana's largest private, family-owned community bank headquartered in Merrillville, IN. Comparable employee-centric culture, community reinvestment focus, and full-service community banking platform with digital capabilities.
• German American Bank: Jasper, Indiana-headquartered community bank serving southern Indiana with comparable business model including agricultural lending, small business banking, and digital offerings. Similar community-bank scale and geographic focus.
• Lake City Bank: Indiana-based community bank headquartered in Warsaw, IN with a comparable branch network serving northern Indiana. Lake City Bank operates a similar model of relationship-based community banking with strong commercial and agricultural lending, making it a close structural peer to HHSB.
• Star Financial Bank: Indiana-based community bank headquartered in Fort Wayne serving central and northeast Indiana. Comparable employee-owned structure (ESOP), community banking focus, and agricultural/commercial lending mix.
• First Financial Bank: Indiana-headquartered community/regional bank (Terre Haute) with comparable deposit-gathering, ag lending, and small business banking operations across Indiana. Similar customer base of ag producers, small businesses, and consumers.
• Horizon Bank: Indiana-headquartered community bank (Michigan City) with similar regional branch footprint across Indiana and adjoining states. Comparable business banking, ag lending, and consumer deposit products with strong digital platform.

Regional players

• Stock Yards Bank & Trust: Louisville, KY-headquartered community bank with Indiana presence and similar relationship-banking model serving small businesses and consumers. Comparable in product mix but operates in adjacent (Kentucky/Indiana) regional geography.
• WesBanco: Wheeling, WV-based regional bank with significant Indiana footprint following recent acquisitions. Competes in commercial lending and consumer banking with Indiana presence, though headquartered outside HHSB's core geography.

Broad incumbents

• First Merchants Corporation: Large Indiana-based regional bank holding company headquartered in Muncie, IN with significant presence across Indiana, Ohio, and Michigan. Competes in commercial and ag lending but with substantially broader product set and geographic reach.
• Old National Bank: Large Indiana-headquartered regional bank (Evansville) with statewide branch network competing with HHSB in commercial and ag lending. Broader incumbent offering treasury management, capital markets, and wealth services HHSB cannot match at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/myHHSB
• YouTubeyoutube.com/user/MYHHSB
• Facebookfacebook.com/hoosierheartlandstatebank
• LinkedInlinkedin.com/company/hoosier-heartland-state-bank
• Instagraminstagram.com/myhhsb

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 Hoosier Heartland State Bank