Bank Iowa

What Bank Iowa does

Bank Iowa is a privately held, family-owned community bank headquartered in West Des Moines, Iowa, operating more than 20 branch locations across 23+ Iowa communities. Founded in 1901 and owned by the Duncan and Barr families for 50 years, the bank serves three core customer segments: Iowa consumers and families (checking, savings, mortgages, credit cards), Iowa small businesses (business checking, commercial and SBA loans, treasury management), and Iowa farm families (ag lending, ag treasury management, farm operating loans, and now 1031 exchange services via IPE 1031). It is recognized as the second-largest family-owned bank in Iowa and one of the state's leading independent agricultural banks, with more than $2.4 billion in assets as of 2025.

The bank's core technology stack runs on the D+H Phoenix core banking platform (upgraded in 2017), with a digital layer consisting of a mobile banking app for iOS and Android, online banking with bill pay and mobile deposit, and third-party integrations including ClickSWITCH for account migration, SavvyMoney for credit wellness, Remote Deposit Capture for business deposits, and biometric authentication. Treasury management modules include ACH origination, wire transfers, Positive Pay fraud prevention, sweep accounts, and merchant processing delivered in partnership with Professional Solutions. The bank holds FDIC insurance and Equal Housing Lender designation.

Bank Iowa generates revenue through a traditional community bank model: net interest income from agricultural, commercial, mortgage, and consumer lending (including HELOCs), plus non-interest income from deposit service charges, treasury management fees, merchant processing residuals, and credit card interchange on its Platinum Rewards card. Distribution is branch-led with relationship-based bankers making local credit decisions, supplemented by digital channels. The bank has historically pursued a roll-up growth strategy of in-state acquisitions, and under former CEO Jim Plagge expanded assets from $1.1B (2012) to more than $2.4B (2025), achieving record net income in 2025. Jason Herrboldt succeeded Plagge as President and CEO in May 2026.

Name

Bank Iowa

Legal name

Bank Iowa

Website

https://bankiowa.bank

Company type

Private

Founded year

1901

Operating status

Operating

Headcount range

251–500 employees

Short description

Bank Iowa is a privately held, family-owned community bank operating 20+ branches across Iowa, providing personal, business, and agricultural banking services including lending, deposits, treasury management, and 1031 exchange services to Iowa consumers, small businesses, and farm families.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Bank Branch / Retail Purchase Mortgages (FSALAAAA)

Keywords

• Community banking services
• Agricultural lending
• Treasury management
• Consumer banking
• Commercial lending

Headquarters

HQ city

Johnston

HQ country

United States

HQ region

North America

Offices22 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Income from lending activities including agricultural loans, commercial loans, mortgage lending, consumer loans, and HELOCs
2. Deposit Services: Checking accounts, savings accounts, money market accounts, CDs, IRAs, and HSAs
3. Fee Income: Service charges, transaction fees, and monthly maintenance fees on various accounts
4. Treasury Management Services: ACH origination, wire transfers, merchant processing, sweep accounts for business clients
5. Credit Card Services: Platinum Rewards Credit Card with cash back and rewards

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bank Iowa provides full-service community banking to personal, business, and agricultural customers across Iowa through 20+ branch locations plus online and mobile banking channels. Core offerings include checking, savings, money market, and certificate of deposit accounts, credit and debit cards, mortgages, HELOCs, consumer and student loans, commercial and SBA loans, agricultural loans, and a treasury management platform (ACH origination, wire transfers, remote deposit capture, positive pay, sweep accounts, merchant processing).

Product overview

Bank Iowa offers a comprehensive banking platform providing personal, business, and agricultural banking services across 20+ Iowa locations plus digital channels. The core banking products include checking and savings accounts (with reward programs like $ensible Checking offering cash back), certificates of deposit, money market accounts, credit cards, and debit cards. The digital banking platform enables mobile deposits, bill pay, and online account management. Business services are enhanced through Treasury Management, a modular cash management platform offering ACH origination, wire transfers, Remote Deposit Capture, Positive Pay fraud prevention, Sweep Accounts, and Merchant Processing (in partnership with Professional Solutions). Lending products span consumer loans, mortgages (including HELOC and mobile mortgage), student loans, business loans, SBA loans, and agricultural loans. Additional financial services include HSA and IRA accounts, identity theft protection, SavvyMoney credit monitoring, ClickSWITCH account migration, and 1031 Intermediary Services for real estate exchanges.

Differentiator

Problem solved

Functional benefit

Brands

• Let's Make it Happen: The bank's slogan and marketing tagline representing their customer service approach.

Products and services

• $ensible Checking
• Free Checking
• Young Saver Account
• Commercial Checking
• Agricultural Checking
• Certificate of Deposit (CD)
• Money Market Accounts
• Premier Money Market
• Platinum Rewards Credit Card
• Bank Iowa Debit Card
• Digital Banking (Online & Mobile Banking)
• Treasury Management
• ACH Origination & Wire Transfers
• Remote Deposit Capture
• Positive Pay Services
• Sweep Accounts
• Merchant Processing
• Mortgage Lending
• Consumer Loans
• Student Loans
• Business Loans
• Agricultural Loans
• Health Savings Account (HSA)
• Individual Retirement Account (IRA)
• 1031 Intermediary Services (IPE 1031)
• SavvyMoney
• Bank Iowa ClickSWITCH
• Identity Theft Services

Quantifiable outcome

• Grew from $1.1B to $2.4B in assets from 2012-2025
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• IPE 1031coreStrategic or Co-development Partner · 1 January 2025Bank Iowa acquired IPE 1031 in 2025 to strengthen the bank's ability to support generational wealth transitions for farm families, landowners, and business owners through 1031 exchange intermediary services.
• Professional SolutionscoreTechnology or IntegrationBank Iowa partners with Professional Solutions for merchant processing services, enabling businesses to securely accept credit card payments in person, online or on the go.
• Iowa Fraud FightersminorOthersBank Iowa refers customers to Iowa Fraud Fighters for fraud education resources and information about common scams targeting Iowans.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• West Bancorporation (West Bank): Iowa-based publicly traded bank holding company operating West Bank, a community-focused commercial bank serving consumers and businesses across Iowa. Most directly comparable to Bank Iowa given overlapping Iowa geography, similar commercial/community banking focus, and comparable asset scale.
• QCR Holdings: Moline, Illinois-based bank holding company for Quad City Bank & Trust, Community State Bank, and Cedar Rapids Bank & Trust, with significant Iowa presence. Comparable community/commercial banking model with similar asset size and agricultural lending exposure in the Midwest.
• MidWestOne Financial Group: Iowa City-based bank holding company operating MidWestOne Bank, a community bank with branches across Iowa and the Midwest. Direct peer with similar community banking focus, comparable asset size, and overlapping Iowa geography serving commercial and consumer customers.
• Heartland Financial USA / HTLF (now SouthState after merger): Previously a Dubuque, Iowa-based community bank holding company operating multiple community bank brands across the Midwest. Direct peer with comparable community banking model, asset scale, and Iowa footprint before its merger with SouthState.
• First Busey Corporation: Champaign, Illinois-based bank holding company operating Busey Bank with community banking locations across Illinois, Indiana, Missouri, and Florida. Comparable Midwestern community bank with similar asset scale and commercial/consumer banking focus, though more geographically diversified.
• GreenState Credit Union: Iowa-based credit union serving members statewide with consumer checking, mortgages, commercial lending, and wealth management. Competes directly with Bank Iowa for personal and small business banking relationships in Iowa, though structured as a member-owned credit union rather than a commercial bank.

Broad incumbents

• Commerce Bancshares: Kansas City-based bank holding company with $25B+ in assets serving commercial, consumer, and wealth customers across multiple Midwest states. Larger incumbent with overlapping commercial banking capabilities and treasury management services, though operating at much greater scale than Bank Iowa.
• UMB Financial Corporation: Kansas City-based diversified bank holding company with commercial banking, treasury management, and institutional banking services across multiple states. Broader incumbent with comparable commercial and treasury management offerings, though much larger and serving multiple geographies beyond Iowa.

Emerging players

• Farm Credit Services of America: Cooperative lender and part of the Farm Credit System providing agricultural loans and financial services across Iowa, Nebraska, South Dakota, and Wyoming. Comparable ag lending focus for the same Iowa farmer customer base, though structured as a cooperative with different ownership model and product breadth.
• Stock Yards Bancorp: Louisville, Kentucky-based bank holding company with $8B+ in assets operating community banking, wealth management, and commercial lending across Kentucky, Indiana, and Ohio. Comparable community-focused commercial bank with similar asset scale and relationship-driven banking model, though serving different Midwest geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bankiowabanks
• LinkedInlinkedin.com/company/bank-iowa

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Bank Iowa