Piedmont Federal Bank

What Piedmont Federal Bank does

Piedmont Federal Bank is a mutual savings bank founded in 1903 and headquartered in Winston-Salem, North Carolina, with an additional branch in Boone. The bank serves retail consumers, small businesses, and homebuyers through three product pillars: personal banking (checking, savings, money market, CDs, IRAs, youth accounts, credit cards via a third-party partnership, gift cards, and safe deposit boxes), business banking (checking, savings, term loans and lines of credit, treasury services, and financial wellness), and mortgage and lending (fixed-rate and adjustable-rate mortgages, first-time homebuyer programs, down payment assistance, medical professional mortgages, construction-to-permanent loans, HELOCs, home equity loans, refinancing, and personal loans).

The bank operates an omnichannel platform combining physical branches with digital channels including an online banking portal, a native iOS/Android mobile application, and a mortgage web center for application, rate quote, document upload, and loan status tracking. Core technology is standard retail banking infrastructure augmented by third-party integrations: MeridianLink for consumer lending, Fivision for account opening, Deluxe for check ordering, Vanco for appraisal payments, and Banzai for financial education content. The bank holds FDIC insurance, Equal Housing Lender status, CRA compliance, USA Patriot Act compliance, NMLS registration, and BBB accreditation.

Piedmont Federal is a mutual institution owned by its depositors rather than external shareholders, with no parent company and no equity funding rounds. Revenue is generated primarily through net interest income on the loan portfolio (especially mortgage and consumer lending) supplemented by deposit account fees, loan origination fees, and ancillary services such as title insurance. Distribution is regional within North Carolina, supported by relationship-based banking via salaried local loan officers with 60-day mortgage rate locks. The bank has earned the Winston-Salem Journal Readers Choice award for Best Mortgage Lender for 11 consecutive years and reports community impact metrics including support for 91 local organizations, 1,200 annual volunteer hours, and 1,480 financial wellness program attendees.

Name

Piedmont Federal Bank

Legal name

Piedmont Federal Bank

Website

https://piedmontfederal.bank

Company type

Private

Founded year

1903

Operating status

Operating

Headcount range

101–250 employees

Short description

Piedmont Federal Bank is a mutual savings bank founded in 1903, headquartered in Winston-Salem, NC, serving retail consumers, small businesses, and homebuyers across North Carolina with deposit products, business banking, and a full mortgage lending suite.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (52211)

SIC

Savings Institution, Federally Chartered (6035), State Commercial Banks (6022)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Public Sector & Municipal Credit Unions (FSABAEAK)

Keywords

• Retail banking services
• Savings accounts
• Mortgage lending
• Business banking
• Community banking

Headquarters

HQ city

Winston Salem

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D

Revenue model

1. Interest Income from Lending: The bank generates primary revenue through interest earned on mortgage loans (fixed-rate, adjustable-rate, construction, home equity), personal loans, and business loans. Interest rates are competitive and vary by product type and term.
2. Deposit Account Fees and Services: Revenue generated from checking account services, savings account maintenance, certificate of deposit products, IRA accounts, and related banking services. The bank offers various checking tiers including PFPinnacle Checking with free services.
3. Mortgage and Loan Origination Fees: Fees collected from mortgage origination including potential loan origination fees on certain products. First-time homebuyers program offers no origination fee, and some products may have appraisal fees refunded at closing.
4. Financial Privacy and Data Services: As a mutual bank, revenue is reinvested into the institution and community rather than distributed to shareholders. The bank operates as a taxpaying mutual institution.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Piedmont Federal Bank is a mutual savings bank operating since 1903 and headquartered in Winston-Salem, North Carolina. The bank offers FDIC-insured deposit products, consumer and commercial lending, and residential mortgage loans to individuals and businesses in its served communities. Services are delivered through a branch network, online banking platform, and mobile application.

Product overview

Piedmont Federal Bank is a mutual community bank offering a comprehensive suite of banking products and services organized into three main segments: Personal Banking (checking, savings, CDs, IRAs, student/youth accounts, credit cards, gift cards, safe deposit boxes), Business Banking (checking, savings, business loans, treasury services, financial wellness), and Mortgage & Lending (fixed-rate and adjustable mortgages, first-time homebuyer programs, Dream down payment assistance, medical professional mortgages, construction loans, home equity products, personal loans, and refinancing). The bank operates primarily in North Carolina with digital banking capabilities including online and mobile banking platforms. The bank emphasizes its mutual structure and 100+ year tradition, focusing on local community reinvestment through financial education partnerships with Banzai, scholarship programs, and community sponsorships.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Consumer deposit products including checking accounts, savings accounts, money market accounts, and certificates of deposit offered to individuals and households. FDIC-insured.
• Business Banking Deposit accounts and basic treasury services designed for small and mid-sized businesses, including business checking and savings products.
• Residential Mortgage Lending Origination and servicing of residential mortgage loans for home purchase and refinance, supported by an online mortgage web center.
• Mobile Banking App Native mobile application that allows customers to view balances, transfer funds, deposit checks, and pay bills.
• Online Banking Web-based banking platform providing account access, transfers, bill pay, and statement retrieval for personal and business customers.

Quantifiable outcome

• Voted best mortgage lender 11 years consecutively at Winston-Salem Journal Readers Choice Awards
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• BanzaicoreStrategic or Co-development PartnerPiedmont Federal Bank has partnered with Banzai to bring customers clear, in-depth financial education lessons. The partnership provides articles, calculators, and financial wellness resources accessible through the bank's website, supporting the bank's community financial education focus.
• Community Organizations (91 supported organizations)coreOthersThe bank supports 91 local organizations annually through sponsorships and grants aligned with People, Place, and Planet focus areas. Supported organizations include: DO School, Habitat for Humanity, Imprints, Piedmont EA, Senior Services, United Way, Women's Business Network (WBN), Crosby Scholars, Dress for Success, Winston-Salem/Forsyth County Schools, Appalachian Theatre, Sawtooth School, Special Olympics, and many others. Sponsorship and grant applications available through online forms.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Live Oak Bank: A Wilmington, NC-based digital bank focused on small business lending and SBA loans, with strong mortgage and lending orientation. Comparable to Piedmont Federal's lending-heavy business model and NC-based operations.
• First Citizens BancShares: A Raleigh, NC-headquartered regional bank holding company with personal, business, and mortgage banking across the Southeast. Operates in the same NC competitive geography as Piedmont Federal with significantly larger scale.
• Pinnacle Financial Partners: A Nashville, TN-based regional bank with strong Southeast presence, focused on relationship banking, commercial lending, and deposit gathering. Comparable community-banking approach but in adjacent geography.

Broad incumbents

• First Horizon Bank: A Memphis, TN-based regional bank serving the Southeast with retail, commercial, and mortgage banking. Comparable product mix and regional focus, with significantly larger scale.
• Truist Financial: A Charlotte, NC-based top-10 U.S. commercial bank offering full-service retail, business, and mortgage banking across the Southeast. Direct competitor in Piedmont Federal's footprint with vastly greater scale and product breadth.
• Bank of America: A Charlotte, NC-headquartered national bank with major presence across all consumer and business banking segments. Operates in Piedmont Federal's home market with national scale, digital platforms, and full product suite.

Direct peers

• First Carolina Bank: A community bank headquartered in Pinehurst, NC serving similar Triad/Sandhills area consumers and small businesses with deposit accounts, lending, and mortgage products. Closely comparable in scale, geography, and product mix to Piedmont Federal.
• Self-Help Credit Union: A Durham, NC-based community development financial institution (CDFI) credit union focused on financial inclusion, responsible lending, and community impact. Operates with mutual/cooperative principles similar to Piedmont Federal's depositor-owned model.
• Cooperative Bank: A community bank in Wilmington, NC offering personal banking, business accounts, and mortgage products with a community-first mission. Comparable scale and product set to Piedmont Federal.
• Surrey Bank & Trust: A small community bank in Mount Airy, NC offering personal and business banking, mortgages, and community-focused services. Comparable to Piedmont Federal in size, mutual/community orientation, and regional NC focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PiedmontFederal
• Facebookfacebook.com/PiedmontFederalBank
• LinkedInlinkedin.com/company/piedmont-federal-bank
• Instagraminstagram.com/piedmontfederalbank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

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 Piedmont Federal Bank