The Equitable Bank

Name

The Equitable Bank

Legal name

The Equitable Bank, S.S.B.

Website

https://theequitablebank.com

Company type

Public

Founded year

1927

Operating status

Operating

Headcount range

101–250 employees

Short description

The Equitable Bank, S.S.B. is a Wisconsin-chartered community bank serving southeastern Wisconsin since 1927, offering personal and business deposit accounts, mortgage and consumer lending, SBA and commercial real estate loans, and municipal leasing through 6 branches and Fiserv-powered digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community banking services
• Residential mortgage lending
• Business banking solutions
• Mobile and online banking
• Deposit and savings accounts

Headquarters

HQ city

Wauwatosa

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from mortgage loans (fixed-rate, ARM, FHA, VA, construction, renovation, jumbo), home equity loans and HELOCs, personal loans, and business/commercial loans. The bank offers in-house processing, underwriting, and closing for portfolio loans up to $1,000,000.
2. Deposit Account Fees and Interest: Revenue from checking accounts (E-Checking, Relationship Checking, Smart Start, EZ Checking), savings accounts, money market accounts, CDs, IRAs, and HSAs. Some accounts earn interest while others have service fees.
3. Business Banking Services: Fees from business checking, positive pay fraud protection, ACH origination, remote deposit capture, merchant services (Clover), business credit cards, equipment leasing, and municipal leasing programs.
4. Credit Card Services: Consumer and business credit cards provided through Elan Financial Services partnership, offering rewards, cash back, and low-rate options.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

The Equitable Bank is a Wisconsin-chartered community savings bank providing personal and business deposit accounts, residential and commercial lending, and digital banking services to consumers, small businesses, and real estate investors across southeastern Wisconsin. It funds a comprehensive suite of checking, savings, money market, CD, IRA, and HSA products, originates fixed-rate, ARM, FHA, VA, construction, renovation, and jumbo mortgage loans, and offers commercial real estate, SBA, equipment financing, and municipal leasing through its own balance sheet.

Product overview

The Equitable Bank is a community bank serving southeastern Wisconsin since 1927, operating as a single-institution community bank under parent company TEB Bancorp, Inc. (OTC: TBBA). The company offers a comprehensive suite of deposit products including four checking account types (E-Checking, Relationship Checking, Smart Start Checking, EZ Checking), savings accounts, money market accounts, CDs, IRAs, and HSAs for personal banking, plus specialized business checking, savings, and money market accounts including IOLTA/IBRETA for professional clients. Its lending portfolio encompasses residential mortgages through multiple programs (Fixed Rate, ARM, FHA, VA, Construction, Renovation, JUMBO, and Portfolio Loans), home equity products (Home Equity Loans and HELOCs), personal loans, student loans (iHELP), and comprehensive business lending (Commercial Real Estate, Multi-Family, SBA Loans, Equipment Financing, Lines of Credit). The bank provides municipal and equipment leasing programs through a partnership with BB Community Leasing Services. Digital banking services are delivered through Online Banking and TEB Mobile (powered by Fiserv), enabling mobile deposits, bill pay, Zelle transfers, and debit card controls via CardValet. Investment services are offered through the Equitable Investment Center subsidiary. The bank participates in down payment assistance programs (FHLBC DPP, Home Consortium DPA) and offers community lending including Credit Builder loans and WHEDA loans.

Differentiator

Problem solved

Functional benefit

Brands

• TEB Mobile: The Equitable Bank's mobile banking application for iOS and Android devices.

Products and services

• E-Checking with the E-Rewards Rate Interest-bearing personal checking account with tiered E-Rewards rate requiring online banking enrollment, direct deposit, and 10+ debit transactions per statement cycle; no minimum balance or monthly service charge.
• Relationship Checking Higher-interest personal checking account for customers with multiple Equitable banking relationships; requires monthly direct deposit or automatic payment on Equitable loan/CD of $10,000+; offers unlimited free ATM transactions.
• Smart Start Checking Entry-level checking account for ages 14+ with no minimum balance, no monthly service charge, free debit card, surcharge-free ATM access, and mobile banking features.
• EZ Checking Bank On-approved, low-cost checking account with no minimum balance required to open; requires branch visit to open; $5 monthly service charge with basic convenience services.
• Savings Account Basic personal savings account with $100 minimum balance, competitive interest rate, no monthly service charge when maintained, free ATM card, and online banking access.
• Certificates of Deposit (CDs) Fixed-term savings with terms from 28 days; short-term CDs (under 1 year) require $2,500 minimum, long-term CDs (1 year+) require $500 minimum; enhanced rates on balances of $25,000 or more.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, and Educational IRA options, plus IRA CDs.
• Money Market Accounts Two money market account options with check-writing access and competitive interest: Equitable Money Market ($2,500 minimum) and Relationship Money Market (no minimum, tiered rates starting at $2,500).
• Health Savings Account (HSA) Tax-exempt savings account for individuals with high-deductible health plans covering qualified medical expenses; features tiered interest, check and debit card access, and tax-deductible contributions.
• Home Saver Account Savings account designed for future homebuyers; earns interest following market rates, has no monthly fees, and offers automatic deposit options and homebuyer resources.
• Equitable Investment Center Investment services division offering securities, financial planning, and investment products, accessible through equitableinvestmentcenter.com.
• Fixed Rate Mortgage 30-year and 15-year fixed-rate residential mortgage loans with consistent monthly payments; no closing costs options and refinancing opportunities available.
• Adjustable Rate Mortgage (ARM) Residential ARM with initial lower rate that adjusts over time; suits buyers planning short-term residence with potential for larger loan amounts.
• FHA Loan Government-backed residential mortgage with low down payment and flexible credit guidelines for first-time homebuyers.
• VA Loan Residential mortgage for qualified veterans, active-duty service members, reservists, and spouses with up to 100% LTV, no monthly mortgage insurance, and competitive rates.
• Construction Financing Single-closing construction-to-permanent loans covering both construction and permanent mortgage with interest-only payments during construction and automatic conversion to conventional loan upon completion; as low as 5% down with up to 95% LTV.
• Renovation Mortgage Combined purchase or refinance plus renovation financing up to 95% LTV with single closing costs and flexible funding draws for home improvements.
• JUMBO Loan Portfolio mortgage loans up to $1,000,000 with 20% down; in-house processing, underwriting, and closing with local servicing.
• Portfolio Mortgage Loans Non-conforming portfolio loans up to $1,000,000 with flexible terms; for jumbo mortgages and construction projects with in-house underwriting and local decision-making.
• Home Equity Loan Fixed-rate lump-sum loan against home equity up to 90% of property value with predictable monthly payments.
• Home Equity Line of Credit (HELOC) Variable-rate revolving line of credit on home equity with long terms and interest-only payment options; funds available as needed with potential tax-deductible interest.
• Credit Builder Loan Loan that deposits borrowed funds into a CD in the borrower's name; payments are reported to credit bureaus to help establish positive credit history.
• WHEDA Loan Wisconsin Housing and Economic Development Authority 30-year fixed-rate mortgage with lower monthly payments, reduced rates, and closing cost assistance for eligible borrowers, with scholarship-based payment assistance options.
• Personal Loans Unsecured personal installment loans for vehicles, debt consolidation, education, and other purposes with competitive rates and quick decisions.
• iHELP Student Loan Private student loan program for educational expenses with competitive rates, no origination fees, and flexible repayment options.
• Business Checking Solution Small business checking account with no monthly service fees, no minimum balance requirements, and no transaction limits or fees.
• Enterprise Checking Solution Business checking with detailed account analysis, deposit/withdrawal flexibility, and fee offset through earnings credits based on monthly balance; $100 opening balance.
• Business Savings Basic business savings account with competitive interest rates keeping business funds liquid while earning interest.
• Equitable Money Market Solution Business money market account with check-writing privileges, competitive interest rates, and convenient fund access.
• Business HSA Employer-sponsored Health Savings Account for employees with high-deductible health plans; tiered interest rates with check and debit card access.
• IOLTA & IBRETA Specialty accounts for lawyers and real estate professionals: Interest on Lawyer Trust Accounts and Interest Bearing Real Estate Trust Accounts for holding client funds.
• Commercial Real Estate Loans Real estate lending for business properties including owner-occupied commercial real estate with flexible terms and local underwriting.
• Multi-Family & Self-Storage Financing Portfolio loans up to 10 years with amortizations up to 30 years; quick local underwriting decisions and low closing costs for multi-family and self-storage investors.
• SBA Loans Small Business Administration loan programs including SBA 7a and 504 for business expansion and acquisition financing.
• Business Lines of Credit Flexible revolving credit for businesses to manage cash flow and cover short-term financing needs.
• Municipal Leasing Tax-exempt leasing for municipalities and school districts to acquire equipment without referendum or bonding; only annual payments in budgets.
• Equipment Leasing Equipment financing with 100% financing available, no down payment required, new or used equipment, variable or fixed rate options, and no termination or prepayment penalties; serviced via BB Community Leasing Services, Inc.
• Business Credit Cards Business credit cards through Elan Financial Services with options including low rate, cash back, or flexible rewards; features zero fraud liability and mobile payments.
• Consumer Credit Cards Consumer credit cards through Elan Financial Services with options for balance transfer, cash back, rewards, or credit building.
• Online Banking 24-hour personal account access platform for checking balances, paying bills, viewing statements, transferring funds, downloading transactions into Quicken/QuickBooks, and managing debit cards.
• TEB Mobile Banking App Mobile banking application for iOS and Android providing account access, mobile deposits, transfers, bill pay, debit card management (CardValet), and Zelle integration; powered by Fiserv.
• Business Online Banking Internet banking platform for businesses providing account activity, statement viewing, wire transfers, ACH origination, stop payments, business bill pay, and remote deposit capture.

Quantifiable outcome

• Preapproval within 24 hours on regular business days
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

Feature7 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• MoneyPasscoreTechnology or IntegrationATM network partnership providing customers with surcharge-free access to over 24,000 ATMs nationwide. Strategic partnership enhances customer convenience and reduces banking fees.
• FIPCO (Wisconsin Bankers Association)coreTechnology or IntegrationATM access network subsidiary of Wisconsin Bankers Association providing surcharge-free ATM access. Partnership provides exclusive benefit to valued customers alongside MoneyPass.
• Harpe DevelopmentminorStrategic or Co-development PartnerConstruction financing partnership providing expertise and support for customers building homes. Mentioned in context of construction loan program with Wendy Lewanovich.
• Elan Financial ServicescoreTechnology or IntegrationCredit card services provider offering consumer and business credit cards through the bank. Provides Visa and Mastercard programs with various reward structures including low rate, cash back, and flexible rewards options.
• FiservcoreTechnology or IntegrationTechnology provider powering TEB Mobile banking app and online account opening platform. Provides core digital banking infrastructure including mobile deposit, transfers, and account management features.
• Early Warning Services/ZellecoreTechnology or IntegrationP2P payment integration enabling customers to send and receive money with Zelle. Available through TEB Mobile and online banking. No fees for Zelle transactions within the app.
• Housing Resources Inc.coreStrategic or Co-development PartnerCommunity partner for homebuyer education and down payment assistance programs. Works with the bank to help income-eligible buyers access homeownership resources.
• United Community CentercoreStrategic or Co-development PartnerCommunity partner organization serving the Milwaukee area. Collaborates with the bank on homebuyer education and community lending programs.
• ACTS Housing Inc.coreStrategic or Co-development PartnerCommunity partner for homeownership programs in Milwaukee. Provides homebuyer education and support services in partnership with the bank's community lending team.
• FHLBC (Federal Home Loan Bank of Chicago)coreStrategic or Co-development PartnerDown payment assistance program partner offering DPP Grants up to $6,000-$10,000 for eligible buyers. Participation in FHLBC programs supports affordable homeownership in the community.
• Home ConsortiumcoreStrategic or Co-development PartnerDown payment assistance program partner offering DPA up to $5,000-$10,000 for income-eligible buyers. Helps cover down payment and closing costs.
• WHEDA (Wisconsin Housing and Economic Development Authority)coreStrategic or Co-development PartnerState housing authority offering specialized mortgage programs with lower monthly payments, reduced rates, and closing cost assistance. Also provides scholarship-based payment assistance programs.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• WaterStone Bank: Wisconsin-based community bank headquartered in Wauwatosa with comparable product suite (mortgages, consumer, business banking) and overlapping Milwaukee metro branch footprint. One of the most direct geographic and product analogues to The Equitable Bank.
• North Shore Bank: Mutual savings bank serving the Milwaukee metro and northeastern Wisconsin with similar personal/business banking and mortgage products. Comparable community-bank model, scale, and customer base in overlapping geographies.
• Town Bank (Wintrust): Wintrust's Town Bank subsidiary operates a Wisconsin community bank franchise with similar deposit, mortgage, and small business banking offerings in the Milwaukee metro. Direct product and geography overlap.
• First Bank Financial Centre: Wisconsin community bank with branches across the Milwaukee metro offering checking, savings, mortgages, and small business banking. Closely comparable in size, geography, and product mix.
• PyraMax Bank: Wisconsin-headquartered community bank serving the Milwaukee metro and surrounding counties with personal, business, and mortgage banking. Similar scale and product breadth.
• Investors Community Bank: Wisconsin community bank with strong agricultural and commercial lending franchise, serving customers across the state including the Milwaukee corridor. Comparable in scale and relationship-driven lending model.
• Tri City National Bank: Wisconsin-based community bank with full-service branches in the Milwaukee metro offering deposit, mortgage, and small business products. Direct comparable on geography and product set.
• Bank Five Nine: Community bank headquartered in southeastern Wisconsin with comparable consumer, mortgage, and small business banking across the Milwaukee metro. Closely matched scale and operating model.

Broad incumbents

• Associated Bank: Largest Wisconsin-based bank with deep retail, mortgage, and commercial franchise across the state including the Milwaukee metro. Competes with The Equitable Bank on mortgages, deposits, and small business, but at much greater scale and with a broader geographic footprint.
• Nicolet National Bank: Wisconsin-headquartered super-community bank with significant presence in the Milwaukee metro and across the state, offering similar deposit, mortgage, and commercial products. Larger and more diversified but competes directly for the same customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@TheEquitableBank
• Xx.com/EquitableBank
• Facebookfacebook.com/TheEquitableBank
• LinkedInlinkedin.com/company/the-equitable-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 The Equitable Bank