Bank Forward
Bank Forward is a privately held FDIC-insured community bank founded in 1927, operating 12 branches across North Dakota and Minnesota to deliver integrated banking, insurance, tax, and investment services to consumers, small businesses, and agricultural producers.
- Company typePrivate
- Founded1927
- HeadquartersWalker, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Bank Forward does
Bank Forward is a privately held FDIC-insured community bank founded in 1927 and headquartered in Fargo, North Dakota, operating 12 branch locations across North Dakota (10) and Minnesota (2), with smaller communities such as Bowdon, Hannaford, Wimbledon, and New Rockford anchoring its rural footprint. The company serves personal banking customers, small-to-medium businesses, and agricultural producers with a full suite of deposit products (checking, savings, money market, CDs, HSA, IRA), lending products (personal, commercial, agricultural, home mortgages), and ancillary banking services (wire transfer, ACH origination, Positive Pay fraud detection, safe deposit boxes, cashier's checks).
The institution is structured as four interconnected divisions under a unified regional brand: Bank Forward (core banking), Insure Forward (independent insurance agency offering personal, business, and crop lines), Tax Forward (tax preparation, planning, IRS audit representation, payroll, and accounting), and Invest Forward (investment advisory services through a partnership with Commonwealth Financial Network). Technology consists of a standard digital banking platform accessible via web and mobile applications (iOS and Android), with third-party integrations including Apple Pay, Google Pay, Samsung Wallet, and Elan Financial Services for credit card issuance. The bank also maintains a wholly-owned nonprofit subsidiary, Forward Foundation, established in 2012 as a 501(c)(3) supporting children and families in served communities.
Revenue is generated across multiple streams: net interest income from loans and deposits, insurance commissions from Insure Forward, investment advisory fees from Invest Forward, tax preparation and accounting fees from Tax Forward, and deposit-related service charges. Distribution is relationship-based, executed through physical branches, dedicated advisors and agents at each location, digital banking channels, and direct in-person service — a go-to-market model that prioritizes local decision-making and personalized advisory service over high-volume digital acquisition.
Bank Forward firmographics
Firmographics- Name
- Bank Forward
- Legal name
- Bank Forward
- Website
- https://bankforward.com
- Company type
- Private
- Founded year
- 1927
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Bank Forward is a privately held FDIC-insured community bank founded in 1927, operating 12 branches across North Dakota and Minnesota to deliver integrated banking, insurance, tax, and investment services to consumers, small businesses, and agricultural producers.
- Ownership category
- akta.pro rank
Bank Forward industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- SME/Industrial Development Banks (FSABAKAF)
Keywords
Where Bank Forward is headquartered
LocationHeadquarters
- HQ city
- Walker
- HQ country
- United States
- HQ region
- North America
Offices13 records
Markets served
Bank Forward business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others
Revenue model
- Net Interest Income: Traditional banking revenue from interest earned on loans (personal, business, commercial, agricultural, home mortgages) minus interest paid on deposits.
- Insurance Commissions: Revenue from insurance products sold through Insure Forward including personal (auto, home, life, health, disability, RV, ATV, motorcycle), business (property, liability, workers comp, ag & farm, bonds), and crop insurance.
- Investment Advisory Fees: Revenue from investment services offered through Invest Forward, facilitated by Commonwealth Financial Network partnership, including financial planning, portfolio management, and retirement planning.
- Tax Preparation and Accounting Services: Fees for tax preparation, tax planning, IRS audit representation, payroll processing, and accounting services for individuals and businesses.
- Deposit and Service Fees: Various banking fees including wire transfer fees, cashier's check fees, safe deposit box rental, and potentially other service charges.
- Certificate of Deposit Interest Spreads: Revenue from CD products including 7-Month CD Special (3.60% APY), 15-Month CD Special, and various term CDs with competitive rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Interest Checking - Entry tier with $1,000 minimum opening deposit |
| Subscription | Monthly | Forward Interest Checking - Premium tier with $5,000 minimum |
| Subscription | Monthly | Regular Savings with $200 minimum opening deposit |
| Subscription | Monthly | Health Savings Account |
| Subscription | Monthly | IRA Savings Account |
| Subscription | Monthly | Money Market Savings - Standard tier with $1,000 minimum |
| Subscription | Monthly | Forward Money Market Savings - Premium tier with $5,000 minimum |
| One time/ perpetual license | Pay-as-you-go | 7-Month CD Special |
| One time/ perpetual license | Pay-as-you-go | 15-Month CD Special |
| One time/ perpetual license | Pay-as-you-go | Standard CD Terms (3-60 months) |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels5 records
Bank Forward product offering
Product offeringCore offering
Bank Forward is a privately held community bank founded in 1927 that provides personal and business banking, insurance, tax preparation, and investment advisory services across North Dakota and Minnesota. Operating through 12 physical branches and digital banking channels, the bank offers deposit accounts, loans (personal, commercial, agricultural, home mortgages), credit/debit cards, and integrated financial services through its Insure Forward, Tax Forward, and Invest Forward divisions.
Product overview
Bank Forward is a multi-service financial institution offering banking, insurance, tax, and investment services through four interconnected divisions: Bank Forward (core banking), Insure Forward (insurance), Tax Forward (tax preparation/accounting), and Invest Forward (investment management). The company operates as a regional community bank with branches across North Dakota and Minnesota, providing personal and business banking products (checking, savings, loans, home loans), digital banking services, various insurance lines (personal, business, ag/farm, crop), tax services, and investment products through Commonwealth Financial Network. A Forward Foundation nonprofit supports local communities. The product architecture combines a core banking platform with integrated service divisions, all accessible through digital banking and mobile applications.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts
Companies that use Bank Forward
Customer profileSegments6 records
Ideal customer profiles4 records
Bank Forward technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
Bank Forward partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Commonwealth Financial NetworkcoreFinancial advisors of Invest Forward offer securities and advisory services through Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser. Securities are offered through this referral arrangement where Bank Forward receives a percentage of commissions and fees.
- Elan Financial ServicescoreElan Financial Services provides credit card services including 24-hour cardmember service for consumer credit cards (1-800-558-3424) and business credit cards (1-866-552-8855), account monitoring through My Account Access portal.
- Power Plate MealsminorForward Foundation partnered with Power Plate Meals and Brew Bird to provide 1,000 holiday dinners to families in need in communities served.
- Brew BirdminorForward Foundation partnered with Power Plate Meals and Brew Bird to provide 1,000 holiday dinners to families in need in communities served.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Bank Forward competitors and assessment
Company assessmentDirect peers
- Bell Bank: Fargo-headquartered, employee-owned community bank with branches across North Dakota and Minnesota plus insurance and wealth divisions — directly mirrors Bank Forward's multi-service, upper-Midwest community banking model.
- First International Bank & Trust: North Dakota-headquartered independent community bank with ag, business, and personal banking across ND/MN and into the Dakotas — comparable footprint, ag specialization, and family/independent ownership profile.
- Cornerstone Bank (ND): North Dakota-based community bank serving small towns with personal, business, and ag lending — closely comparable in scale, footprint, and rural community-banking proposition.
- Starion Bank: North Dakota community bank with branches across ND and into MN, WI, and SD offering personal, business, ag, mortgage, and wealth services — directly comparable regional community-bank peer.
- Bremer Bank: Minnesota-headquartered regional bank with deep ag and small-business banking presence across the upper Midwest — overlapping geography and customer base, though materially larger than Bank Forward.
- Heartland Tri-State Bank: Midwest community/ag bank with comparable size and rural, agriculture-heavy lending book — useful comp for ag-portfolio economics and deposit-gathering in similar markets.
- Gate City Bank: North Dakota-based mutual community bank with strong ag and small-business franchise across ND/MN — comparable in size, structure focus, and ag-banking specialization.
Regional players
- Alerus Financial: Grand Forks-headquartered diversified financial services firm offering banking, mortgage, wealth, and retirement services in ND/MN — broader product set but overlapping regional customer base.
Broad incumbents
- AgCountry Farm Credit Services: Farm Credit System lender serving ND/MN with ag real estate, operating, and crop insurance products — not a direct deposit competitor, but the dominant ag-finance incumbent in Bank Forward's footprint.
Others
- Blue Cross Blue Shield of North Dakota (Insure Forward-type independent agencies as bundled financial peers): Regional independent insurance carriers act as upstream suppliers to Bank Forward's Insure Forward agency; representative of the multi-carrier agency model that defines Bank Forward's insurance arm.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Bank Forward social profiles
Digital presenceBank Forward compliance and trust
Trust signalCompliance1 record
Bank Forward financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bank Forward leadership team
Management profileNumber of profiles
Profiles17 records
Bank Forward subsidiaries and ownership
Company hierarchySubsidiaries1 record
Bank Forward funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bank Forward M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bank Forward
What does Bank Forward do?
Bank Forward is a privately held community bank founded in 1927 that provides personal and business banking, insurance, tax preparation, and investment advisory services across North Dakota and Minnesota. Operating through 12 physical branches and digital banking channels, the bank offers deposit accounts, loans (personal, commercial, agricultural, home mortgages), credit/debit cards, and integrated financial services through its Insure Forward, Tax Forward, and Invest Forward divisions.
Is Bank Forward a public or private company?
Bank Forward is a private company. It is classified as unknown and is currently operating.
When was Bank Forward founded?
Bank Forward was founded in 1927. It employs 51 to 100 people.
Where is Bank Forward based?
Bank Forward is headquartered in Walker, United States, in the North America region.
How does Bank Forward make money?
Six revenue lines are on record. Net Interest Income is the primary driver. The others are insurance Commissions, investment Advisory Fees, tax Preparation and Accounting Services, deposit and Service Fees and certificate of Deposit Interest Spreads.
Who are Bank Forward's main competitors?
Direct peers on record are Bell Bank, First International Bank & Trust, Cornerstone Bank (ND), Starion Bank, Bremer Bank, Heartland Tri-State Bank and Gate City Bank. Alerus Financial is listed as a regional player. AgCountry Farm Credit Services is listed as a broad incumbent. Blue Cross Blue Shield of North Dakota (Insure Forward-type independent agencies as bundled financial peers) is listed as an others.
Does Bank Forward have an API?
No public API is recorded for Bank Forward.
What industry is Bank Forward in?
Bank Forward's product category is Community Banking. Its primary akta.pro industry code is FSABAKAF, SME/Industrial Development Banks. Its NAICS code is 52211 and its SIC code is 6022.