Holcomb Bank

What Holcomb Bank does

Holcomb Bank is a privately-held, state-chartered community bank headquartered in Rochelle, Illinois, that has operated continuously since opening for business on July 5, 1892, originally organized as the Exchange Bank of Holcomb. As of recent disclosures the bank serves Ogle County and surrounding Illinois communities through five physical branch locations (Rochelle headquarters, Byron, Creston, and New Milford), supported by drive-up services, 24-hour ATMs, and digital channels, with a workforce in the 101-250 employee band. The institution is FDIC insured, an approved SBA Lender, and operates a Holcomb Investment Services wealth offering through an LPL Financial partnership, while its original Holcomb location was closed in August 2019 and the main office consolidated into Rochelle.

The core product set spans deposit accounts (relationship, traditional, savings, money market, CDs, traditional/Roth IRAs, plus business equivalents), lending products (conventional, FHA, VA, USDA mortgages, HELOC, construction loans; personal loans for autos, RVs, vacations; business revolving lines of credit, term loans, commercial real estate; specialized agricultural loans through FSA, State of Illinois, and Farmer Mac II programs), and fee-generating services (merchant processing via Elavon, student-loan referrals via Sallie Mae, wealth management via LPL Financial, crop insurance). Digital banking is delivered through a Fiserv-powered mobile app and HB Online platform supporting 128-bit encrypted account access, mobile deposit, TransferNow for external-account funding, eStatements, and Zelle P2P payments integrated within HB Bill Pay.

The business model is a traditional community-bank spread-and-fee model. The dominant revenue stream is net interest income from loans across consumer, mortgage, business, agricultural, and credit-card products. Supplementary revenue includes monthly service fees on deposit accounts that don't meet minimum-balance or eStatement enrollment thresholds (e.g., $5-$10 monthly on various tiers), wire and stop-payment fees, safe-deposit-box rentals, statement-copy charges ($2 standard, $5 with images), cashier's check and money order fees, and referral/commission revenue from LPL Financial, Sallie Mae, and Elavon partnerships. Go-to-market is direct-to-consumer and direct-to-SMB via branch staff and the website, supplemented by Facebook social presence and 14 online financial calculators that act as top-of-funnel content marketing for mortgage and wealth leads.

Name

Holcomb Bank

Legal name

Holcomb Bank

Website

https://holcomb.bank

Company type

Private

Founded year

1892

Operating status

Operating

Headcount range

101–250 employees

Short description

Holcomb Bank is a privately-held Illinois community bank founded in 1892, operating five branches across Ogle County that serves individual consumers, small-to-mid businesses, and agricultural customers with deposit accounts, lending products, wealth management, and digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Agricultural lending
• Retail deposit accounts
• Mortgage loans
• Wealth management services

Headquarters

HQ city

Rochelle

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue source from interest earned on mortgage loans, personal loans, business loans, agricultural loans, and credit cards. Loan products include conventional loans, FHA loans, VA loans, USDA loans, construction loans, HELOC, business revolving lines of credit, equipment term loans, and commercial real estate loans.
2. Deposit Account Fees: Monthly service fees for certain account types when minimum balance requirements are not met or when enrolled in eStatements. Basic Checking charges $5 monthly if not enrolled in eStatements. Traditional Checking charges $5 monthly if minimum balance not maintained. NOW Account charges $8 monthly. Money Market charges $10 monthly.
3. Merchant Processing Services: Revenue from merchant services partnership with Elavon for payment processing solutions provided to business customers.
4. Wealth Management Referrals: Commission and referral fees from offering investment products through LPL Financial including financial strategies, retirement strategies, IRAs, annuities, mutual funds, stocks, bonds, estate strategies, college funding, and life insurance. Guided Wealth Portfolios service generates account fees.
5. Student Loan Referrals: Referral fees from Sallie Mae for student loan products offered through Holcomb Bank including undergraduate, graduate, MBA, medical, dental, law school loans, and parent loans.
6. Electronic Banking Services: Fees for wire transfers (domestic and international), stop payments, and statement copy requests ($2.00 per statement, $5.00 with images). Bill Pay is free for up to 10 transactions per month.
7. Safe Deposit Boxes: Annual rental fees for safe deposit boxes available at all 4 locations in various sizes.
8. Cashier's Checks and Money Orders: Fees charged for cashier's checks and money orders for Holcomb Bank customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels9 records

Core offering

Holcomb Bank is a privately-held, full-service community bank offering personal and business deposit accounts, mortgage and consumer loans, agricultural and commercial lending, cash management, merchant processing, and wealth management services through four Illinois branches in Byron, Creston, New Milford, and Rochelle. Its products include checking, savings, money market, CDs, IRAs, mortgage loans (Conventional, FHA, VA, USDA, HELOC, Construction), business credit facilities, agriculture loans, crop insurance, safe deposit boxes, and investment services delivered through an LPL Financial partnership. Digital channels include HB Online, HB Bill Pay, a Fiserv-powered mobile banking app with mobile deposit, TransferNow, and Zelle P2P payments.

Product overview

Holcomb Bank is a regional community bank offering a comprehensive suite of banking products and services organized into consumer and business deposit accounts, lending solutions, digital banking platforms, and wealth management. The core digital banking infrastructure consists of HB Online (internet banking) and HB Bill Pay for account access and payments, complemented by mobile banking with mobile deposit and TransferNow for external transfers. Deposit products span checking (Relationship, Traditional), savings, money market, and CDs/IRAs for personal customers, with business equivalents including Basic Business Checking, Business Checking, and Business Money Market. Lending offerings include mortgage products (Conventional, FHA, VA, USDA, HELOC, Construction Loans), personal loans (automobile, recreational, vacation), student loans through Sallie Mae partnership, business loans (revolving credit, term loans, commercial real estate), and specialized agriculture loans. The bank also provides business services including merchant services via Elavon, cash management, and crop insurance. Wealth management services are offered through an LPL Financial partnership providing investment advisory, Guided Wealth Portfolios, and retirement planning. The bank operates four physical locations in Illinois (Byron, Creston, New Milford, Rochelle) with 24-hour ATM access at each.

Differentiator

Problem solved

Functional benefit

Brands

• Holcomb Investment Services: Wealth management and investment services offered through LPL Financial, providing financial strategies, retirement strategies, IRAs, annuities, mutual funds, stocks, bonds, estate strategies, college funding, and life insurance.

Products and services

• Personal Checking Accounts
• Personal Savings and Money Market Accounts
• Certificates of Deposit (CDs)
• IRAs (Traditional and Roth)
• Business Deposit Accounts
• Mortgage Loans
• Personal Loans
• Student Loans
• Business Loans
• Agriculture Loans
• Wealth Management (Holcomb Investment Services)
• Merchant Services
• Cash Management
• Crop Insurance
• HB Online and HB Bill Pay
• Mobile Banking App (Fiserv-powered)
• Personal Branch Services

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

Four partnerships are on record, tiered core.

• ElavoncoreTechnology or IntegrationHolcomb Bank has partnered with Elavon to deliver industry-leading merchant processing solutions. By combining banking expertise with Elavon's payment processing network, business customers receive a one-stop solution for all banking and payment processing needs. Elavon provides the technology platform while Holcomb Bank delivers the customer relationship.
• Sallie MaecoreGTM or Marketing PartnerStudent loans offered through Holcomb Bank in partnership with Sallie Mae. Products include undergraduate, graduate, MBA, medical, dental, law school loans, and parent loans. Holcomb Bank receives referral fees from Sallie Mae for customer referrals. Products feature competitive variable and fixed rates, no origination fees, and multiple repayment options.
• FiservcoreTechnology or IntegrationMobile banking app powered by Fiserv enables customers to control credit/debit cards through mobile devices. The app provides real-time balances, money management, transaction viewing, transfers, bill pay, mobile deposit, alerts, and card management capabilities. Fiserv provides the core technology platform for mobile banking services.
• LPL FinancialcoreGTM or Marketing PartnerWealth management and investment services offered through LPL Financial, a registered investment advisor and broker-dealer (member FINRA/SIPC). Products include financial strategies, retirement strategies, Traditional and Roth IRAs, annuities, mutual funds, stocks, bonds, estate strategies, college funding, and life insurance. Also offers Guided Wealth Portfolios (GWP) algorithmic investment program.

Scale indicators8 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Stillman Bank: Stillman Bank is a community bank headquartered in Oregon, Illinois — directly adjacent to Holcomb Bank's Rochelle/Ogle County footprint. It offers a nearly identical mix of consumer deposits, agricultural lending, mortgage, and small-business banking, making it the closest geographic and product-line peer.
• Heartland Bank and Trust Company: Heartland Bank and Trust is a Central Illinois community bank with comparable agricultural lending, commercial banking, and retail deposit offerings. Its multi-branch Illinois footprint and ag-banking specialization directly mirror Holcomb Bank's positioning.
• First Mid-Illinois Bank & Trust: First Mid-Illinois is a publicly traded community banking franchise serving Central Illinois with comparable consumer, commercial, agricultural, and wealth-management offerings. It represents a scaled version of Holcomb Bank's business model.
• State Bank of Davis: State Bank of Davis is a small Illinois community bank offering consumer deposits, mortgage lending, and ag/commercial banking. Its scale and product mix closely parallel Holcomb Bank's community-bank operating profile.
• Blackhawk Bank: Blackhawk Bank is a community bank serving Northern Illinois and Southern Wisconsin with consumer, business, and ag lending. Its regional footprint, branch network, and product breadth align closely with Holcomb Bank's operating model.

Regional players

• Busey Bank: Busey Bank is a larger Illinois-headquartered regional bank offering consumer, commercial, ag, and wealth-management services. It competes in similar Illinois markets but at materially greater scale and with a broader product set.
• Byline Bancorp: Byline Bancorp operates community-banking branches across the Chicago metro and surrounding Illinois region. It is a larger regional community-bank operator with overlapping small-business and consumer banking products.
• Northwest Bank (Northwest Financial Corp): Northwest Bank is a Midwest-focused community bank offering consumer, agricultural, and commercial banking. Its rural Midwestern footprint and ag-lending orientation parallel Holcomb Bank's community-bank profile.

Broad incumbents

• JPMorgan Chase: JPMorgan Chase is a national full-service bank with broad consumer, mortgage, small-business, and wealth offerings. It represents the large-incumbent competitive backdrop against which Holcomb Bank competes for deposit and loan share in its Illinois markets.

Emerging players

• Ally Bank: Ally Bank is a leading digital-first bank offering deposits, lending, and wealth-management products nationwide. It represents the emerging digital-banking threat competing for the same deposit and consumer-finance customers Holcomb Bank serves, albeit without a branch channel.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/holcombbank
• LinkedInlinkedin.com/company/holcomb-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Holcomb Bank