Magnolia Bank

What Magnolia Bank does

Magnolia Bank is a privately held community bank founded in 1919 as the Bank of Magnolia, headquartered in Hodgenville, Kentucky, with approximately $500 million in total assets as of December 2025. The bank operates two physical banking centers in Kentucky (Hodgenville and Elizabethtown) and a national mortgage lending division that originates over $1 billion in home loans annually across all 50 states through dedicated loan offices in 14+ states. Its product portfolio spans six personal checking tiers (Simple, Mobile, Interest, Renew, Thrive, Magnify), multiple savings and money market accounts, certificates of deposit, IRAs, and the CDARS service for FDIC coverage on multi-million dollar deposits, alongside five business checking tiers, commercial real estate and equipment loans, SBA preferred lending up to $5 million, merchant services through Banc Card, ACH origination, remote deposit capture, and a wholly-owned commercial leasing subsidiary, Lease One Magnolia, established in 2010 in Louisville, KY.

The bank generates revenue primarily through net interest income on its loan portfolio (mortgage, commercial, consumer, agricultural), supplemented by deposit account fees, debit card interchange, merchant processing fees, SBA loan origination fees, and equipment leasing income. Distribution combines physical branches for community banking relationships in Hardin and LaRue Counties with a self-serve digital platform: a native iOS/Android mobile app (built on Apiture's Xpress framework), online banking portal, mobile wallet integration across six platforms (Apple Pay, Google Pay, Samsung Pay, LG Pay, Fitbit Pay, Garmin Pay), and remote deposit capture for business customers. Mortgage loans are serviced via third-party PHH Mortgage Servicing for transferred loans.

Customer segments are horizontally diversified across personal banking consumers (including youth and young adult sub-brands Thrive and Magnify), small-to-mid-market businesses, agricultural operators, and a national base of mortgage borrowers. The bank is led by Deena London, the fifth president since 2019, supported by a full C-suite including a Chief Banking Officer, CFO, Chief Risk & Audit Officer, Chief Administrative Officer, Chief Compliance Officer, and CTO. Strategic positioning emphasizes local relationship banking ("The Magnolia Way") combined with national-scale mortgage origination and selective fintech partnerships (notably the December 2025 LiaFi integration for small business cash flow management).

Name

Magnolia Bank

Legal name

Magnolia Bank Inc.

Website

https://magnoliabank.com

Company type

Private

Founded year

1919

Operating status

Operating

Short description

Magnolia Bank is a privately held Kentucky community bank founded in 1919, operating physical branches in Hodgenville and Elizabethtown with a national mortgage division originating over $1 billion annually across all 50 states, serving retail consumers, small/mid-market businesses, and agricultural borrowers.

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

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

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

Keywords

• Community banking
• Personal banking services
• Business banking
• Mortgage lending
• Small business lending

Headquarters

HQ city

Hodgenville

HQ country

United States

HQ region

North America

Offices21 records

Markets served

GTM type

B2B and B2C

Cost components

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

Revenue model

1. Interest Income from Loans: Traditional banking revenue from interest earned on mortgage loans, commercial loans, and consumer loans. Mortgage division generates over $1 billion in home loans annually.
2. Checking and Savings Account Fees: Monthly service fees on various account types (e.g., $10 monthly fee for Magnify Checking if direct deposit requirements not met, $25 monthly fee for Renew Checking), excess item fees, and paper statement fees.
3. Certificate of Deposit and Savings Interest Spreads: Interest earned on deposits (checking, savings, money market, CDs) with rates varying by account type and balance tier, generating spread income.
4. Debit Card Interchange: Transaction fees earned from debit card usage at merchants and ATMs. No annual fee on debit cards; foreign ATM fees of $2 at non-Magnolia ATMs (waived for Mobile Checking holders).
5. Business Services: Revenue from merchant card processing services, SBA lending fees, commercial lending, and lease financing through Lease One Magnolia subsidiary.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

Magnolia Bank is an independent community bank offering personal banking (checking, savings, CDs, IRAs), business banking (business checking tiers, SBA and commercial loans, ACH origination, remote deposit capture, merchant services), and a nationwide mortgage lending division (conventional, FHA, VA, USDA, construction, ARM, reverse mortgages). Services are delivered through physical Kentucky banking centers, online/mobile platforms, and mortgage loan offices across the United States.

Product overview

Magnolia Bank is a traditional community bank offering a unified platform of banking products and services across personal, business, and mortgage lending segments. The personal banking suite includes six checking account variants (Simple Checking, Mobile Checking, Interest Checking, Renew Checking, Thrive Checking, Magnify Checking) and five savings offerings (Savings Account, Young Savers, Money Market, Thrive Savings, Magnify Savings) plus CDs, IRAs, and the CDARS FDIC protection service. Business banking comprises five checking tiers (Business Basic, Business Plus, Business Pro, Business Sweep, Business Money Market), commercial lending (real estate, equipment, lines of credit, SBA loans), and services (ACH Origination, Remote Deposit Capture, Merchant Services, Positive Pay). Mortgage products include conventional, FHA, VA, USDA, construction, ARM, reverse mortgage, and refinancing options, supported by a national mortgage division generating over $2 billion annually. Mobile and digital access is provided through a native mobile app, mobile wallet integrations (Apple Pay, Google Pay, Samsung Pay), and online banking platform. The Thrive and Magnify sub-brands target specific age segments with bundled features.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Over $1 billion in home loans closed annually through mortgage division
• +1 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• LiaFiminorStrategic or Co-development Partner · 3 December 2025LiaFi partnered with Magnolia Bank to integrate the TOR Score dashboard for small business cash flow management. Magnolia Bank increased APY on its business account to 3.10% through this partnership to help small businesses earn on idle cash while managing liquidity.
• Banc CardcoreChannel Partner/ Reseller/ DistributorMagnolia Bank partners with Banc Card to offer a complete suite of payment solutions including credit/debit card processing for merchants of any size with local sales and service support.
• Promontory Interfinancial NetworkcoreTechnology or IntegrationMagnolia Bank is a member of the CDARS network, allowing customers to access FDIC protection on multi-million dollar CD investments through the network of participating banks.
• U.S. Small Business AdministrationcoreStrategic or Co-development PartnerAs an SBA preferred lender, Magnolia Bank works with small businesses to secure SBA loans with flexible terms, fixed and variable interest rates, and loan amounts up to $5 million.
• Stewart SignsminorOthersNew Franklin City Council approved a contract with Stewart Signs, valued at $16,939, for replacement of outdated internal components in the city's 12-year-old electronic community sign at City Hall, partially funded through NOPEC grant with Magnolia Bank involved in related lease-purchase agreement.

Scale indicators5 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Forcht Bank: Kentucky-based independent community bank with multi-county retail presence and commercial/SBA lending, similar in size and product mix to Magnolia Bank. Operates banking centers and offers mortgage and business lending, making it a directly comparable community banking peer.
• Community Trust Bank: Public community bank headquartered in Pikeville, Kentucky serving consumers and small-to-mid-size businesses across Kentucky, West Virginia, and Tennessee. Comparable to Magnolia in its Kentucky-focused retail and commercial lending orientation.
• Republic Bank & Trust Company: Louisville-based community bank offering personal and business banking, mortgage lending, and wealth services with concentrated Kentucky footprint. Operates a very similar deposit-and-lending model at a larger scale.
• Stock Yards Bank & Trust: Kentucky/Indiana community bank with national trust and wealth management operations, providing comparable personal banking, business banking, and mortgage products. Similar product breadth and Kentucky community-banking positioning.
• Town & Country Bank and Trust: Kentucky-based community bank offering personal and business banking products with mortgage and commercial lending. Mirrors Magnolia's retail-community focus and geographic concentration in Kentucky.
• Kentucky Bank: Kentucky-headquartered community bank with full personal and business banking offerings including mortgage and small business lending. Closely comparable in size, footprint, and product menu.
• Live Oak Bank: Technology-forward community bank nationally recognized for SBA and small-business lending franchise with remote-friendly operating model. Highly comparable on the SBA-preferred-lender axis and digital capability versus Magnolia.
• Independence Bank of Kentucky: Kentucky-based community bank offering personal banking, mortgage, and business lending services across a multi-county regional footprint. Directly comparable community-banking peer in markets overlapping Magnolia's core.

Broad incumbents

• WesBanco: Regional bank with a meaningful Kentucky presence (alongside OH, WV, PA) offering a broad suite of consumer, business, and mortgage products. Larger and more diversified than Magnolia but competes in overlapping Kentucky markets.
• First Financial Bank: Regional bank with consumer, business, and mortgage offerings across Ohio, Indiana, and Kentucky. Larger and broader than Magnolia but competes directly across much of its Kentucky/regional footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/magnolia-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments3 records

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

Frequently asked questions about Magnolia Bank