Carroll Bank & Trust

What Carroll Bank & Trust does

Carroll Bank & Trust is a privately held community bank headquartered in Huntingdon, Tennessee, operating a network of ten branches across West Tennessee communities including McKenzie, Camden, Milan, Bradford, Paris, Lexington, and a newly opened Jackson location. Founded in 1909, the bank provides personal and business deposit products (Twin Oaks-branded checking accounts, regular savings, money market, CDs, IRAs), a full lending suite (Conventional/FHA/VA/USDA mortgages, consumer loans for autos/home improvement/boats, commercial loans including SBA, agricultural, and lines of credit), and supplementary services such as wire transfers, safe deposit boxes, night depository, and Telebanc automated telephone banking. Investment and brokerage services are delivered through a channel partnership with Raymond James Investments, while trust and estate planning are handled by an in-house Trust Department.

The technology stack is conventional community-bank infrastructure: a 24/7 online banking portal, an iOS/Android mobile app with mobile remote deposit capture (up to $3,000/day combined limit), e-statements with 18 months of history, MoneyPass/Pulse/Cirrus ATM network membership, DocuSign-powered online account applications, and ProfitStars SmartPay for corporate and loan payments. No proprietary AI/ML, API platform, or developer-facing tools are referenced.

Revenue is generated primarily through net interest income on the loan and securities portfolio, supplemented by transaction fees (overdraft $33/item, NSF $33/item, $5/day sustained overdraft, wire transfers $10–$50, safe deposit boxes $15–$60/year), deposit account service charges (balance-tiered personal and business checking), and managed-services revenue from the trust department and Raymond James-referred brokerage activity. Customer segments are diversified across individual consumers, small and mid-sized businesses, senior citizens (targeted via the Banking and Bingo outreach program), and home buyers. The bank is FDIC-insured, an Equal Housing Lender, and compliant with USA PATRIOT Act Section 326.

Name

Carroll Bank & Trust

Legal name

Carroll Bank & Trust

Website

https://carrollbank.com

Company type

Private

Founded year

1909

Operating status

Operating

Headcount range

11–50 employees

Short description

Carroll Bank & Trust is a privately held community bank founded in 1909 in Huntingdon, Tennessee, operating ten branches across West Tennessee to provide personal and business checking, savings, mortgages, and consumer/commercial loans to individuals and local SMBs.

Ownership category

akta.pro rank

Headquarters

HQ city

Huntingdon

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional bank lending revenue from consumer loans (auto, home improvement, personal, boat), home mortgages (Conventional, FHA, VA, USDA), business loans (working capital, lines of credit, commercial real estate, equipment, agricultural), and securities investments.
2. Account Service Fees: Monthly service charges, overdraft fees ($33/item), NSF fees ($33/item), daily overdraft fees ($5/day after 5th business day overdrawn), dormant account fees ($5/month), ATM fees, wire transfer fees, and various transaction fees.
3. Deposit Account Fees: Service charges on checking accounts based on balance tiers, paper statement fees ($3/month for low balance), and analysis charges for commercial accounts.
4. Trust and Investment Services: Full-service Trust Department and brokerage services through Raymond James partnership for investment management and estate planning.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Carroll Bank & Trust is a community bank providing personal and business deposit accounts (checking, savings, CDs, IRAs), consumer and commercial lending (mortgages, auto, personal, business lines of credit, agricultural loans), trust and investment services via Raymond James, and digital banking channels (online and mobile banking with mobile deposit). It operates 10 branches across West Tennessee and serves local individuals, families, and small-to-mid-sized businesses.

Product overview

Carroll Bank & Trust is a community bank offering a unified digital banking platform complemented by traditional banking products. The core digital services include Online Banking, Mobile Banking with Mobile Deposit Capture, E-Statements, and Mobile Text Alerts. The product portfolio spans personal and business checking (including Twin Oaks Rewards, Twin Oaks Growth, and Twin Oaks Club sub-brands), personal and business savings accounts (Regular Savings, Money Market, Christmas Club, Vacation Club, Certificates of Deposit, and IRAs), lending products (Home Mortgage Loans, Personal Loans, and Business Loans including SBA), and supplementary services (Wire Transfers, Night Depository, Safe Deposit Boxes, Notary Service, Direct Deposit, and Telebanc). Investment and Trust Services are provided through a partnership with Raymond James. The bank also offers a Financial Literacy Program in partnership with Banzai for community education.

Differentiator

Problem solved

Functional benefit

Brands

• Twin Oaks: Twin Oaks is a brand used for various checking and savings account products including Twin Oaks Club Checking, Twin Oaks Rewards, Twin Oaks Growth, and Twin Oaks Flex Money Market Savings Account.

Products and services

• Online Banking 24/7 digital banking portal for checking balances, transferring funds, paying bills, setting custom alerts, and viewing monthly statements for personal and business customers.
• Mobile Banking App iOS and Android smartphone/tablet app enabling 24/7 account access, balance checks, transfers, bill pay, and card controls for personal and business customers.
• Regular Savings Account Personal savings account with $100 minimum deposit, competitive interest compounded daily and paid quarterly, and three permitted withdrawals per quarter.
• Money Market Daily Savings Personal savings account with $2,500 minimum deposit, tiered interest compounded daily and paid monthly, and three withdrawals allowed per month.
• Twin Oaks Flex Money Market Savings Variable rate money market account with $10,000 minimum, tiered APY up to 5.50% tied to the Wall Street Journal Prime Rate, designed for higher-balance personal savers.
• Certificate of Deposit Fixed-term CDs with $500 minimum, terms ranging from 7 days to 60 months, competitive rates, and interest paid monthly, quarterly, semi-annually, or at maturity.
• Christmas Club Account Holiday savings account with $10 minimum deposit and maximum balance of $5,000, paying out via check issued in early November each year.
• Vacation Club Account Vacation-targeted savings account with $10 minimum deposit, daily compounding interest, and a limit of two withdrawals per year.
• Individual Retirement Account (IRA) Retirement savings account with $100 minimum deposit, no annual fee, simple interest compounded quarterly, and standard IRA withdrawal rules.
• Twin Oaks Rewards Checking Personal interest-bearing checking with cash back on debit card purchases (up to $7.50/cycle) and ATM fee refunds (up to $20/month) upon meeting monthly qualifications.
• Twin Oaks Growth Checking Personal interest-bearing checking offering 5.022% APY on balances up to $15,000 and a lower rate on balances above that threshold, effective 3/16/2026.
• Twin Oaks Club Checking Monthly statement personal checking with $100 minimum, $5 monthly service fee, tiered interest rates, and additional club benefits.
• Personal Checking Standard personal checking account with $100 minimum and balance-based monthly service charges (no charge at $500+, $6 at $300-$499.99, $7 under $300).
• Business Checking Business checking account with $100 minimum opening deposit and tiered monthly service charges based on collected balance, with no charge at $500+.
• Super Now Account Interest-bearing business checking account requiring $2,000 minimum deposit with tiered interest rates for businesses maintaining higher balances.
• Business Savings Account Savings account designed for business customers to hold reserve funds and earn interest.
• Home Mortgage Loans Residential mortgage lending for home purchases, refinancing, and construction, offering Conventional, FHA, VA, and USDA loan options for first-time and repeat buyers.
• Personal Loans Consumer installment loans including auto loans, home improvement loans, general-purpose personal loans, and boat/recreational vehicle loans at fixed or variable rates.
• Business Loans Commercial lending products including working capital loans, lines of credit, commercial real estate financing, equipment/vehicle loans, agricultural loans, and SBA loans for local businesses.
• MasterCard Debit Card No-annual-fee MasterCard debit card with worldwide acceptance, usable as debit or credit, with instant access to checking and savings accounts.
• ATM Services 24-hour ATM access at 8 in-network locations plus nationwide access via MoneyPass, Pulse, and Cirrus networks for surcharge-free withdrawals.
• Wire Transfer Services Domestic and international wire transfer services for customers, with incoming, outgoing domestic, and outgoing international pricing tiers.
• Safe Deposit Boxes Secure storage boxes available in multiple sizes ranging from 3x5 to 6x10, priced from $15 to $60 per year.
• Night Depository After-hours deposit service with special bags and keys provided to businesses and individuals for off-hours deposits.
• Notary Service Free notary service available to all account holders at branch locations.
• Direct Deposit Electronic deposit service for paychecks, Social Security, and recurring payments using routing number 084304272.
• Telebanc 24-hour automated telephone banking service accessible at 731-986-0088 or 800-208-9129 for balance inquiries, transfers, and account information.
• Brokerage Services Investment and brokerage services offered through a partnership with Raymond James Investments, Inc. (Member NASD/SIPC).
• Trust Services Full-service Trust Department providing administrative power and expertise for investment management and estate planning for individuals and families.
• Financial Literacy Program Community financial education program including the Banzai interactive platform and outreach materials covering needs vs. wants, savings, and banking careers.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Raymond James Investments, Inc.coreChannel Partner/ Reseller/ DistributorCarroll Bank & Trust provides link to Raymond James Investments, Inc. (Member NASD/SIPC) for brokerage services. Bank provides this link for customer convenience to access investment and wealth management services.
• BanzaiminorStrategic or Co-development PartnerExcited to partner with Banzai to offer an interactive financial literacy platform for the community. Educational tool for teaching financial concepts.
• MoneyPasscoreTechnology or IntegrationCarroll Bank is a member of MoneyPass network providing surcharge-free ATM access at thousands of locations nationwide.
• Pulse and CirruscoreTechnology or IntegrationCarroll Bank is a member of Pulse and Cirrus ATM networks for worldwide purchasing power and ATM access with MasterCard debit card.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• FirstBank: Tennessee-headquartered community bank (Lexington, TN - same regional market as Carroll Bank) offering consumer and commercial banking, mortgages, and wealth services across multiple states. Closest direct peer given overlapping West Tennessee geography and similar community-bank product set.
• Wilson Bank & Trust: Tennessee community bank headquartered in Lebanon, TN offering personal and business banking, mortgages, and investment services through a multi-branch network. Comparable in size, product breadth, and community-bank operating model.
• First Volunteer Bank: Tennessee community bank (Chattanooga, TN) offering consumer, business, and mortgage banking with a regional branch footprint. Comparable community-bank positioning with similar deposit and lending product mix.

Broad incumbents

• Pinnacle Financial Partners: Largest Tennessee-headquartered bank (Nashville, TN) with statewide presence offering full commercial, consumer, mortgage, and wealth services. A larger incumbent in the same Tennessee banking market that increasingly competes for the same commercial and consumer relationships.
• Simmons Bank: Arkansas-based regional bank with a significant Tennessee branch network offering consumer, commercial, and wealth services. Competes with Carroll Bank across multiple Tennessee markets and operates at significantly larger scale.
• Cadence Bank: Multi-state regional bank (resulting from BancorpSouth and Cadence merger) with a meaningful Tennessee footprint offering consumer, commercial, and treasury services. A larger competitor operating in overlapping Tennessee geographies.
• Trustmark National Bank: Mississippi-headquartered community-oriented bank with Tennessee branches offering consumer, commercial, and wealth services. Comparable community-bank positioning but operating across a larger multi-state footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/carrollbank1907
• LinkedInlinkedin.com/company/carroll-bank-and-trust

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors1 record

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 Carroll Bank & Trust