Herring Bank

What Herring Bank does

Herring Bank is a privately held, FDIC-insured community bank founded in 1899 in Vernon, Texas, and now headquartered in Amarillo, TX. The bank operates 7 branches across Texas (Amarillo, Azle, Clarendon, Seymour, Vernon), Oklahoma (Altus), and Colorado (Colorado Springs), supported by 30+ proprietary ATMs and access to 55,000+ Allpoint network ATMs. It employs 251–500 people and is primarily owned by the family of founder Col. C.T. Herring, with additional community ownership through local board directors.

The bank offers a full-stack product portfolio spanning personal banking (checking, savings, personal loans, auto loans, credit cards, RV loans), business banking (checking, savings, commercial loans, equipment financing, agriculture loans, merchant services, payroll/PayCard), mortgage lending (VA, FHA, Conventional, Jumbo, Reverse Mortgage, Texas Home Equity), wealth management and trust services, and specialized verticals including cannabis banking and hospitality lending. Its digital channel is built on third-party platforms—Apiture for mobile and FundsXpress for online banking—with remote deposit capture, bill pay, and accounting software integrations (QuickBooks, Quicken, Microsoft Money). A Campus Solutions program partners with 55+ colleges and employer locations to deliver student banking and payroll services.

Revenue is generated primarily through net interest income on lending, supplemented by deposit account fees (overdraft up to $25/item), credit card interest and fees, merchant processing fees, payroll/PayCard subscription revenue, and wealth management fees. Go-to-market is relationship-based, local, and predominantly in-person: personal and business accounts must be opened at branches, with local lenders and decision-makers executing on commercial and mortgage originations. The bank's competitive position rests on 120+ years of local trust, multi-generational customer relationships (frequently 10–20+ years), and willingness to operate in regulated niches (cannabis, SBA, hospitality) where larger competitors have withdrawn.

Name

Herring Bank

Legal name

Herring Bank

Website

https://herringbank.com

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Agricultural & Rural Development Banks (FSABAKAE)

Keywords

• Retail banking services
• Commercial lending products
• Mortgage and refinancing
• Wealth management services
• Community banking solutions

Headquarters

HQ city

Amarillo

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Interest earned on loans including personal loans, auto loans, home mortgages, commercial real estate loans, equipment financing, agriculture loans, and business lines of credit. Core revenue stream for the bank's lending operations.
2. Checking and Savings Account Fees: Monthly service charges varying by account type, overdraft fees (up to $25 per returned or insufficient item), and other account-related fees.
3. Business Credit Card Fees: Annual fees, interest charges on balances, cash advance fees ($5.00 or 1% whichever is greater, not to exceed $25), late fees ($25), and reward program costs for business credit cards.
4. Merchant Services: Payment processing fees from card transactions for business customers. One-stop payment processor for merchants.
5. Payroll Services: Direct deposit and payroll processing services including Premier Pay program for businesses, with potential PayCard issuance for unbanked employees.
6. Wealth Management and Trust Services: Investment and trust services for business owners, executives, farmers, professionals, and retirees. Personalized financial planning and wealth management.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Herring Bank is a community bank that provides deposit accounts (personal and business checking and savings), consumer and commercial loans (auto, RV, personal, mortgage, agriculture, hospitality, SBA, commercial real estate, equipment, business lines of credit), credit cards, merchant card payment processing, payroll services (Premier Pay), wealth management and trust services, and specialized banking for cannabis businesses and college students through 7 branches in Texas, Oklahoma, and Colorado, supported by a mobile banking app, online banking, and a national ATM network.

Product overview

Herring Bank operates as a community bank offering a unified portfolio of personal and business banking products and services. The core offerings include Online & Mobile Banking as the primary digital channel, supplemented by personal checking/savings accounts, personal loans (including auto and RV loans), and mortgage/refinancing services (VA, FHA, Conventional, Jumbo loans). For business customers, the bank provides checking/savings accounts, business credit cards, commercial loans (real estate, equipment, agriculture), merchant services for payment processing, payroll solutions (including Premier Pay for unbanked employees), and cannabis banking. Additional specialized services include wealth management, campus solutions with the College Green Card debit account for students, hospitality lending for hotel operators, and Remote Deposit Capture as a digital add-on. The bank serves Texas, Oklahoma, and Colorado with physical branch locations while maintaining digital banking capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Online & Mobile Banking Digital banking platform (Apiture-powered mobile app on iOS and Android plus FundsXpress online banking portal) enabling personal and business customers to access accounts, transfer funds, pay bills, deposit checks remotely, set alerts, and locate branches and ATMs.
• Personal Checking & Savings Accounts Personal checking and savings accounts for individuals, opened in-person at branches with debit cards, online banking, online bill pay, mobile deposit, direct deposit, text banking, and CD Advantage Rate options.
• Personal Loans & Credit Lines Fixed-rate personal loans and credit lines for purposes including auto purchases, home improvements, and debt consolidation, with fixed monthly payments and terms.
• Mortgage & Refinancing Services Home loan products including VA loans, jumbo loans, FHA loans, conventional loans, cash-out refinance, reverse mortgage, and Texas home equity lines of credit.
• Business Checking & Savings Accounts Business banking deposit accounts with features including online banking, cash management tools, wire transfers, ACH transfers, payroll services, and export capabilities to accounting software.
• Business Credit Cards Credit cards for businesses providing purchasing power and flexibility, with built-in fraud alerts and expense management tools.
• Commercial Loans Commercial lending products including commercial real estate financing, equipment financing, agriculture loans, and business lines of credit.
• Merchant Services Payment processing services enabling businesses to accept card payments from customers.
• Payroll Solutions (Premier Pay) Direct deposit payroll services for businesses with support for employees without bank accounts via the Payroll PayCard (Debit MasterCard) for unbanked workers.
• Cannabis Banking Specialized banking services for cannabis businesses maintaining compliant operations under regulatory requirements.
• Wealth Management & Trust Services Personalized financial planning and wealth management services for individuals including business owners, executives, farmers, professionals, and retirees.
• Campus Solutions / College Green Card Student banking services offering a multi-function debit card (College Green Checking Account) for college students with access to disbursements and deposits.
• Hospitality Lending Specialized hotel and hospitality financing including SBA 504 loans, CMBS financing, construction loans, hotel refinancing, and franchise financing for Texas hotel owners and developers.
• RV Loans Financing solutions for recreational vehicles including motorhomes, travel trailers, and fifth wheels with options to purchase or refinance.

Quantifiable outcome

• Remotely deposited checks clear 2-3 days faster than physical deposit methods
• +2 more outcomes

Named customers10 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

One partnership is on record.

• AllpointcoreTechnology or IntegrationAllpoint network partnership provides Herring Bank customers access to 55,000+ Allpoint Access ATMs nationwide, extending the bank's ATM footprint significantly beyond its 30+ proprietary ATMs. Customers can use Allpoint ATMs for fee-free cash withdrawals and balance inquiries.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Amarillo National Bank: Amarillo-based community bank serving the Texas Panhandle with personal, business, and wealth management services. Most direct geographic peer to Herring Bank given shared headquarters region and overlapping customer base in Amarillo and rural Texas.
• FirstBank (Texas): Texas-focused community bank with comparable branch density and similar mix of consumer, small business, and ag lending. Comparable scale and customer relationship model make it a direct peer in community banking positioning.
• Vista Bank: Texas-headquartered community bank with branches across West Texas and New Mexico, serving similar rural markets with commercial, ag, and consumer banking. Direct geographic and product overlap with Herring Bank's footprint.
• Legend Bank: North Texas community bank offering personal, business, and ag lending with comparable community bank ethos and similar small-town Texas footprint. Direct peer in the rural Texas community banking segment.

Broad incumbents

• PlainsCapital Bank: Large Texas-based commercial bank with broad statewide branch network offering consumer, commercial, and wealth services. Overlaps Herring's Texas footprint but operates at significantly greater scale and breadth.
• Prosperity Bancshares: One of the largest Texas-based bank holding companies, with extensive branch coverage including rural markets where Herring operates. Provides a comparable consumer/SMB product set but at much larger scale and through acquisition-driven growth.
• International Bancshares Corporation: Texas-domiciled bank holding company (International Bank of Commerce) serving Texas and Oklahoma border markets with retail, commercial, and wealth products. Comparable multi-state Southwest footprint and community bank heritage.

Regional players

• First National Bank of Texhoma: Small community bank serving the Texas-Oklahoma border region with personal and small business banking. Operates in overlapping geographic territory with Herring Bank's panhandle Oklahoma presence.
• ACB Bank (Bank of the Panhandle competitor): Community bank serving the Texas panhandle and surrounding markets with comparable rural community banking model. Overlaps Herring Bank's primary geographic footprint in rural Northwest Texas.

Emerging players

• Safe Harbor Financial: Specialty cannabis banking services provider serving compliant cannabis businesses across multiple U.S. states. Direct overlap with Herring Bank's cannabis banking vertical at a national scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/herringbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Herring Bank