Level One Bank
Level One Bank is a Michigan-based community bank founded in 2007 and headquartered in Farmington Hills. Publicly traded on NASDAQ under LEVL, it offers traditional banking products and services to consumers and small businesses across the state.
- Company typePublic
- Founded2007
- HeadquartersFarmington Hills, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Level One Bank does
Level One Bank is a Michigan-based, for-profit community bank founded in 2007 and headquartered in Farmington Hills. The bank operates as a publicly traded financial institution listed on NASDAQ under ticker LEVL, offering banking products and services to consumers and businesses across Michigan. The firm employs between 101 and 250 people, consistent with a mid-sized regional community bank operating a branch network within the state. Level One Bank's website (levelonebank.com) indicates a traditional retail and commercial banking model serving the Michigan market.
The bank's growth strategy to date has been executed primarily through inorganic expansion. In August 2019, Level One Bank acquired Ann Arbor State Bank for approximately $67.8 million, expanding its Michigan deposit and lending franchise. This was followed in December 2019 by a $30 million capital raise, reinforcing balance sheet capacity to support continued lending growth and further M&A. The bank is led by founder Patrick Fehring, who serves as CEO and co-founder. The combination of public-market status (NASDAQ:LEVL), an M&A-driven consolidation strategy, and a clearly defined Michigan geographic focus positions Level One Bank as a regionally focused consolidator in the fragmented Michigan community banking market.
Level One Bank's revenue model is that of a traditional chartered bank: net interest income from deposits and loans, supplemented by fee income from banking services. As a community bank, its competitive positioning rests on local relationship banking, regulatory protections (FDIC-insured deposits), and physical/digital distribution within Michigan — not on technology differentiation or platform monetization. The bank does not disclose proprietary technology stacks, AI capabilities, APIs, or developer-facing platforms in the available material, consistent with a conventional community bank operating model rather than a fintech-oriented one.
Level One Bank firmographics
Firmographics- Name
- Level One Bank
- Legal name
- First Merchants Bank
- Website
- https://levelonebank.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Level One Bank is a Michigan-based community bank founded in 2007 and headquartered in Farmington Hills. Publicly traded on NASDAQ under LEVL, it offers traditional banking products and services to consumers and small businesses across the state.
- Ownership category
- akta.pro rank
Level One Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (522110)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where Level One Bank is headquartered
LocationHeadquarters
- HQ city
- Farmington Hills
- HQ country
- United States
- HQ region
- North America
Markets served
Level One Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Distribution channels5 records
Marketing channels4 records
Level One Bank product offering
Product offeringCore offering
Level One Bank is a Michigan-based community bank offering personal and small business banking products and services, now operating as part of First Merchants Corporation. The bank provides checking and savings accounts, mortgages, business loans, treasury management, wealth management, and dedicated nonprofit banking services to consumers, small businesses, and commercial clients in Michigan and the broader Midwest region.
Product overview
First Merchants Bank operates as a full-service regional financial institution offering a unified platform of banking products across personal, small business, commercial, and private wealth segments. The core banking infrastructure includes checking and savings accounts, while the product portfolio spans lending (mortgages, home equity, personal loans, vehicle loans, business term loans, SBA lending, and commercial real estate), digital banking (mobile app, online banking, Zelle, mobile deposit, bill pay), treasury management (payables, receivables, lockbox, fraud prevention), and wealth management (investment management, estate planning, private banking, retirement services). The bank recently integrated First Savings Bank following a merger and offers specialized services for nonprofits. Digital access is primarily through the First Merchants Mobile App and Online Banking portals rather than developer APIs.
Differentiator
Problem solved
Functional benefit
Brands
- First Merchants Wealth Management: Wealth management services including investment management, financial and estate planning, private banking, and retirement planning.
- First Merchants Private Wealth
- First Merchants Treasury Management
- First Merchants Mobile App
Products and services
- Personal Banking Comprehensive personal banking services including checking and savings accounts, debit cards, overdraft protection, and deposit products with features like Early Pay and Round Ups for individual consumers in Michigan.
- Small Business Banking Small business checking and savings accounts, online and mobile banking, with dedicated relationship bankers and lending solutions tailored for small business needs.
- Small Business Lending Term loans, lines of credit, SBA lending, and Fix & Flip loans for small business financing needs.
- Commercial Banking Commercial bank accounts, lending, and treasury management services for medium to large businesses including ABL solutions, agricultural lending, commercial real estate, and debt capital markets.
- Treasury Management Cash management services including liquidity management, payables, receivables, and fraud prevention solutions for commercial clients.
- Mortgages & Home Lending Residential mortgage products including purchase mortgages, home equity lending, and 1st Lien HELOC Sweep for homeowners at various credit levels.
- Credit Cards Personal and business credit card products with online account management through My Account Access portal.
- Personal Loans & Vehicle Loans Installment loans for personal needs and vehicle financing for automobiles, boats, and other transportation.
- Private Wealth Comprehensive wealth management for high-net-worth individuals including investment management, estate planning, private banking, and dedicated advisors.
- Retirement Services 401(k) plan administration and retirement planning services for individuals and businesses, including services powered by Vestwell.
- Nonprofit Banking Specialized banking services for nonprofit organizations including dedicated relationship management through Director of Nonprofit Services.
- Mobile & Online Banking Digital banking platform offering mobile app, mobile deposit, personal finance tools, Zelle payments, Card Swap, Direct Deposit Switch, Bill Pay, and estatements.
- Remote Deposit Capture Electronic check deposit service allowing business customers to deposit checks remotely 24/7 via online banking.
- Lockbox Services Commercial receivables management through First Merchants Receivables Portal for processing customer payments.
- Merchant Services Payment processing and merchant services for business clients through My Payments Insider portal.
Quantifiable outcome
- $2.35 Billion in Contributions to Communities
- +2 more outcomes
Companies that use Level One Bank
Customer profileSegments5 records
Ideal customer profiles4 records
Level One Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Level One Bank partnerships and signals
Strategic signalRecent moves4 records
Expansion highlights3 records
Level One Bank competitors and assessment
Company assessmentDirect peers
- Independent Bank (Michigan): Michigan-headquartered community bank serving consumers, small businesses, and commercial clients across the state — the closest geographic and product analogue to Level One Bank.
- Mercantile Bank Corporation: Michigan-based commercial bank offering commercial, retail, and mortgage banking with a community-banking model similar to Level One.
- First Merchants Bank: Indiana-based community bank offering personal, small business, commercial, and wealth banking across the Midwest — directly comparable scale and product mix to Level One.
Broad incumbents
- Huntington Bancshares: Large regional bank with deep Michigan franchise serving consumer, small business, and commercial segments — the most prominent scaled competitor in Level One's home market.
- Fifth Third Bank: National regional bank with substantial Michigan presence, offering commercial banking, treasury management, and wealth services that overlap with Level One's full-service suite.
- Old National Bank: Midwest-focused regional bank serving consumer, commercial, and wealth customers across multiple states, comparable in footprint and product breadth to Level One.
Regional players
- Lake Michigan Credit Union: Largest credit union in Michigan serving consumer and small business members across the state — directly competes for Michigan deposits and consumer lending relationships.
- TFS Financial Corporation: Cleveland-based savings institution with national mortgage lending capabilities, overlapping with Level One's consumer deposit and mortgage offerings.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat3 records
Key risks4 records
Key highlights5 records
Customer concentration
Level One Bank social profiles
Digital presenceLevel One Bank compliance and trust
Trust signalCompliance2 records
Level One Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Level One Bank leadership team
Management profileNumber of profiles
Profiles1 record
Level One Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Level One Bank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Level One Bank
What does Level One Bank do?
Level One Bank is a Michigan-based community bank offering personal and small business banking products and services, now operating as part of First Merchants Corporation. The bank provides checking and savings accounts, mortgages, business loans, treasury management, wealth management, and dedicated nonprofit banking services to consumers, small businesses, and commercial clients in Michigan and the broader Midwest region.
Is Level One Bank a public or private company?
Level One Bank is a public company. It is classified as public and is currently operating.
When was Level One Bank founded?
Level One Bank was founded in 2007. It employs 101 to 250 people.
Where is Level One Bank based?
Level One Bank is headquartered in Farmington Hills, United States, in the North America region.
Who are Level One Bank's main competitors?
Direct peers on record are Independent Bank (Michigan), Mercantile Bank Corporation and First Merchants Bank. Broad incumbents are Huntington Bancshares, Fifth Third Bank and Old National Bank. Regional players are Lake Michigan Credit Union and TFS Financial Corporation.
Does Level One Bank have an API?
No public API is recorded for Level One Bank.
What industry is Level One Bank in?
Level One Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 522110 and its SIC code is 6022.