First Women's Bank

First Women's Bank is a Chicago-based, FDIC-member U.S. commercial bank serving women-owned small businesses and female healthcare professionals with business and personal banking, commercial and SBA lending, treasury management, mission-aligned deposits, and the FWB Collective community platform.

Company typePrivate
Founded2019
HeadquartersChicago, United States
Headcount11–50
GTM typeB2B
OfferingServices

What First Women's Bank does

First Women's Bank is a Chicago-based, FDIC-member commercial bank founded in 2019 (legal name: First Women's Bank; DBA: FWB). It is described as the only U.S. commercial bank explicitly founded with a mission to grow the economy and elevate the role of women within it. The bank serves two primary segments: women-owned small businesses seeking capital and banking services, and female physicians/healthcare professionals seeking practice ownership financing; it also accepts personal banking customers.

The product surface spans a full business banking suite — checking, savings, commercial lending, SBA lending, treasury management, and online and mobile banking — alongside personal banking (checking and savings) with digital access. Differentiated offerings include the Elevate Savings Account, a mission-aligned deposit product framing savings as support for the women's economy; Financial Solutions for Healthcare Professionals targeting female physicians and the ~$2M lifetime earnings gap; and the FWB Collective, a community platform providing resources, strategic advisors, and an advisory board. The underlying technology is a modern digital banking platform with online and mobile capabilities; the routing number (071027216) and FDIC membership confirm a U.S. bank charter.

Commercially, FWB operates a sales-led, relationship-based GTM combining dedicated banker outreach, mission-aligned community partnerships, and digital onboarding. Revenue is generated from three streams: lending operations (commercial, SBA, personal/mortgage), deposit services (interest spread), and treasury management for business clients. Pricing is not publicly disclosed; account-level fees and service charges would require direct banker engagement. Headcount is 1-10 employees, no funding rounds are disclosed, and revenue/financials are not publicly available. Note that a separate "First Women's Bank" referenced in a Pakistan privatization news item is flagged in the source material as a different entity.

First Women's Bank firmographics

Firmographics

Name: First Women's Bank
Legal name: First Women's Bank
Website: https://firstwomensbank.com
Company type: Private
Founded year: 2019
Operating status: Operating
Headcount range: 11–50 employees
Short description: First Women's Bank is a Chicago-based, FDIC-member U.S. commercial bank serving women-owned small businesses and female healthcare professionals with business and personal banking, commercial and SBA lending, treasury management, mission-aligned deposits, and the FWB Collective community platform.
Ownership category
akta.pro rank

First Women's Bank industry classification

Industry

Product category: Commercial Banking
NAICS: Commercial Banking (52211)
SIC: National Commercial Banks (6021)
akta.pro primary industry: SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
akta.pro secondary industries: Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

Commercial banking services
Small business lending
Women-owned business banking
SBA loan programs
Treasury management services

Where First Women's Bank is headquartered

Location

Headquarters

HQ city: Chicago
HQ country: United States
HQ region: North America

Markets served

First Women's Bank business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

Lending Operations: First Women's Bank generates revenue through commercial lending, SBA lending, and personal lending products including mortgages and business loans. The bank offers financial solutions for healthcare professionals, suggesting specialized lending products for this segment.
Deposit Services: Revenue generated from deposit accounts including checking, savings, and the Elevate Savings Account. Banks typically earn interest spread between lending and deposit rates.
Treasury Management: Treasury management services for business clients, likely including cash management, payment processing, and related banking services.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Business Banking - Checking and Savings accounts

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

First Women's Bank product offering

Product offering

Core offering

First Women's Bank is a U.S. commercial bank offering business and personal banking products, including checking and savings accounts, commercial lending, SBA lending, treasury management, and online/mobile banking. The bank serves women entrepreneurs, women-owned small businesses, and female healthcare professionals with specialized lending such as practice-ownership financing. It also operates the FWB Collective community platform and the Elevate Savings Account as mission-aligned products that channel deposits toward supporting the women's economy.

Product overview

First Women's Bank operates as a commercial bank with a unified platform offering both business and personal banking services. The core business banking suite includes checking, savings, commercial lending, SBA lending, treasury management, and online/mobile banking. Personal banking services similarly encompass checking, savings, and digital banking access. Key differentiated offerings include the Elevate Savings Account, Financial Solutions for Healthcare Professionals targeting female physicians, and the FWB Collective community platform. The bank positions itself as the only U.S. commercial bank founded with a mission to grow the economy and elevate the role of women within it.

Differentiator

Problem solved

Functional benefit

Products and services

Business Banking

Quantifiable outcome

Women own 14 million businesses but receive only 16% of commercial bank loans and 4.4% of total small business loan dollars, highlighting the market gap the bank addresses
+1 more outcomes

Companies that use First Women's Bank

Customer profile

Segments2 records

Ideal customer profiles3 records

First Women's Bank technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

First Women's Bank partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Female Physicians/Healthcare ProfessionalscoreOthers · 5 May 2026First Women's Bank provides financial solutions and practice ownership financing to female physicians, helping them achieve financial independence and career agency. The bank positions practice ownership as a pathway to closing the $2 million career earnings gap between male and female physicians.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

First Women's Bank competitors and assessment

Company assessment

Direct peers

Amalgamated Bank: Amalgamated Bank is a U.S. commercial bank with a values-driven, mission-oriented franchise serving progressive and community-focused customers. Like First Women's Bank, it differentiates primarily through mission/values rather than scale, making it a close direct peer.
Beneficial State Bank: Beneficial State Bank is a mission-driven, FDIC-insured commercial bank focused on serving underserved communities and promoting economic justice. Its community-development and inclusion focus mirrors First Women's Bank's women-economy mission.
Grameen America: Grameen America is a microlender specifically focused on providing capital and business support to women entrepreneurs in the U.S. While non-bank, it directly competes for the same women-owned small business lending segment that First Women's Bank targets.
Sunrise Banks: Sunrise Banks is a CDFI-certified community bank serving underserved consumers and small businesses with a values-driven approach. Comparable to First Women's Bank as a mission-oriented community bank with small-business and inclusion focus.
Self-Help Federal Credit Union: Self-Help Federal Credit Union / Self-Help Credit Union is a CDFI depository institution providing inclusive banking and lending to underserved communities. Its mission-driven community banking model parallels First Women's Bank's approach.

Emerging players

Accion Opportunity Fund: Accion Opportunity Fund is a CDFI providing small business loans and capital to underserved entrepreneurs, including women-owned businesses. It overlaps with First Women's Bank's lending segment but operates without a bank charter.
Greenwood Bank: Greenwood is a digital banking platform focused on Black and Latino communities, offering deposits and lending. It targets a related underserved demographic with a digital-first model, making it an emerging mission-driven peer.
Aspiration Financial: Aspiration is a mission-driven financial platform with sustainable/values-aligned banking products. Comparable to First Women's Bank in mission-based positioning and customer-acquisition motion, though broader in target customer.

Broad incumbents

Live Oak Bank: Live Oak Bank is a U.S. commercial bank specializing in small business lending across verticals. While broader in target market, it is comparable to First Women's Bank as a chartered commercial bank with focused SMB lending.
Pacific Enterprise Bank: Pacific Enterprise Bank is a small California-based commercial bank focused on serving small businesses and underserved communities. It is comparable to First Women's Bank as a small, mission-aligned community commercial bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

First Women's Bank financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First Women's Bank leadership team

Management profile

Number of profiles

Profiles1 record

First Women's Bank funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

First Women's Bank M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Women's Bank

What does First Women's Bank do?

Is First Women's Bank a public or private company?

First Women's Bank is a private company. It is classified as unknown and is currently operating.

When was First Women's Bank founded?

First Women's Bank was founded in 2019. It employs 11 to 50 people.

Where is First Women's Bank based?

First Women's Bank is headquartered in Chicago, United States, in the North America region.

How does First Women's Bank make money?

Three revenue lines are on record. Lending Operations are the primary driver. The others are deposit Services and treasury Management.

Who are First Women's Bank's main competitors?

Direct peers on record are Amalgamated Bank, Beneficial State Bank, Grameen America, Sunrise Banks and Self-Help Federal Credit Union. Emerging players are Accion Opportunity Fund, Greenwood Bank and Aspiration Financial. Broad incumbents are Live Oak Bank and Pacific Enterprise Bank.

Does First Women's Bank have an API?

No public API is recorded for First Women's Bank.

What industry is First Women's Bank in?

First Women's Bank's product category is Commercial Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6021.