What Locality Bank does

Locality Bank is a privately held, FDIC-insured community bank headquartered at 1400 South Andrews Ave., Fort Lauderdale, Florida, founded in 2021. It operates a digital-first community banking model targeting local small and medium businesses, real estate developers and investors, SBA borrowers, and individual residents in the South Florida market. The bank differentiates through personal banker relationships delivered alongside mobile and online banking channels, with explicit reinvestment of local deposits into the surrounding community as a positioning pillar.

The product portfolio spans deposit products (Money Market account at 2.20% APY, personal and business checking), lending products (SBA loans, business loans and lines of credit, commercial real estate and construction loans, real estate financing), and payment instruments (business debit cards and a Visa Business Card). Distribution is hybrid: a single Fort Lauderdale branch for face-to-face banking, a website with online account opening, web-based online banking, and native iOS and Android mobile applications. The Android package naming (com.nymbus.locality) indicates the bank runs on Nymbus core banking infrastructure, which provides the digital banking, account opening, and card management backbone rather than a proprietary core system.

The revenue model is multi-stream and typical of community banking: net interest income from business, SBA, and commercial real estate loans; deposit account maintenance fees (e.g., $15 monthly fee below $2,500 minimum balance on Money Market); spread income on Money Market deposits (offered at 2.20% APY); and commercial banking services revenue from treasury management and payment workflows. The go-to-market is community-led, combining local relationship sales with content marketing (blog/Resources), a podcast ("Making Bank"), social media presence, customer testimonials, Google reviews, and email newsletter capture. Leadership is founder-led with Keith Costello as Co-Founder, President and CEO, Corey LeBlanc as Co-Founder, COO and CTO, and Drew Saito as Co-Founder and Chief Lending Officer, indicating an integrated operations, technology, and credit origination team at the leadership level.

Name

Locality Bank

Legal name

Locality Bank

Website

https://localitybank.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Locality Bank is a digital-first, FDIC-insured community bank in Fort Lauderdale, Florida, offering deposit accounts, SBA and commercial real estate lending, and payment products to South Florida small businesses, real estate developers, and local residents through mobile and in-person channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Community banking services
• Business lending
• Money market accounts
• SBA loans
• Commercial real estate financing

Headquarters

HQ city

Fort Lauderdale

HQ country

United States

HQ region

North America

Offices1 record

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 on Loans: Revenue generated from interest charged on business loans, commercial real estate loans, SBA loans, and lines of credit extended to customers
2. Deposit Account Fees: Monthly maintenance fees on accounts that do not meet minimum balance requirements, as well as other banking service fees
3. Money Market Account Interest Spread: Revenue derived from offering 2.20% APY on Money Market accounts, generating spread income on deposited funds
4. Commercial Banking Services: Treasury management tools, payment workflows, and commercial banking services for business customers

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Locality Bank provides personal and business deposit products, including a high-yield Money Market Account (2.20% APY) with a $5,000 minimum opening deposit, alongside business banking services. It also originates business loans, SBA-guaranteed loans, and commercial real estate financing to local South Florida businesses. Customers access the bank through a digital-first stack (online account opening, iOS and Android apps, online portal with real-time transfers), complemented by in-person community banking.

Product overview

Locality Bank operates as a digital-first community bank offering a unified banking platform for both business and personal customers. The core product portfolio centers on Money Market accounts (with competitive 2.20% APY rates), business banking services (including loans, lines of credit, SBA financing, and real estate financing), and personal banking. The bank provides digital delivery through enhanced digital tools, mobile banking applications for iOS and Android, and business debit cards. Additional offerings include Visa Business Cards with associated benefits. The bank emphasizes relationship-driven community banking combined with modern digital infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Money Market Account High-yield personal deposit account offered at 2.20% APY with a $5,000 minimum opening deposit and a $10 monthly maintenance fee when the balance falls below $2,500; designed for yield-sensitive individual savers seeking FDIC-insured savings with digital access.
• Personal Banking Personal deposit and banking services for individual consumers and households, accessible through the bank's online portal and mobile apps with 24/7 account access and real-time transfers.
• Business Banking Business deposit and banking services for local South Florida businesses, supported by the bank's digital account opening, mobile, and online banking platform.
• Business Lending Term and working capital loan products originated by the bank for local businesses, structured through a direct quote and inquiry process.
• SBA Loans SBA-guaranteed loan products for small businesses, originated locally by Locality Bank's lending team.
• Real Estate Financing Commercial real estate loan products for local developers, investors, and property owners seeking acquisition, development, or refinancing capital.
• Visa Business Card Business-purpose Visa card product issued to Locality Bank business banking customers for business spending and payments.
• Business Debit Card Business debit card issued to Locality Bank business banking customers for everyday business purchases and account access.

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/localitybank
• YouTubeyoutube.com/@localitybank
• Facebookfacebook.com/localitybank
• LinkedInlinkedin.com/company/locality-bank
• Instagraminstagram.com/localitybank

Compliance2 records

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 Locality Bank