RiverWind Bank

What RiverWind Bank does

RiverWind Bank is a privately held, FDIC-insured community bank headquartered in Augusta, Arkansas, with three branches across Augusta, Searcy (two locations), and Beebe. Founded in 1935 as The Bank of Augusta, the bank operates under a holding company structure (RiverWind Bancshares, Inc.) effective January 1, 2024, and reported total assets of $133,243,936 as of December 31, 2023. It serves individual consumers (the primary segment), small businesses, college students near the Arkansas State University Beebe campus, and retirees/seniors, offering checking, savings, certificates of deposit, personal and business loans, credit cards, debit cards, Kasasa-branded high-yield and cash-back checking, Roundup savings, and a subscription add-on called the Breezy Bundle ($6/month).

The bank's underlying technology consists of standard community banking infrastructure supporting online and mobile banking, bill pay, e-statements, and electronic funds transfers; the proprietary product layer includes Kasasa Cash (5.00% APY on balances up to $20,000), Kasasa Cash Back (5.00% cash back on debit card purchases up to $200/month), Roundup Savings (transaction-rounding automated savings), and the Breezy Bundle. The bank operates a 9-member board, 33-staff workforce, and a CEO (Casey Cullipher) promoted internally in November 2023 after leading the bank's 50% growth in loans, assets, and deposits over the preceding seven years.

The business model combines traditional net interest income from personal, mortgage, and commercial lending, fee income from deposit accounts (overdraft, ATM, maintenance), interchange and interest from debit/credit card operations, and recurring subscription revenue from the Breezy Bundle. Distribution is direct-to-consumer via three physical branches in Arkansas complemented by online and mobile banking channels; the bank does not report revenue, has no disclosed venture or private equity backing, and competes on local decision-making, face-to-face relationships, and Kasasa qualification-based rewards rather than on scale or technology differentiation.

Name

RiverWind Bank

Legal name

RiverWind Bank

Website

https://riverwind.bank

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

RiverWind Bank is a privately held, FDIC-insured Arkansas community bank founded in 1935, operating three branches in Augusta, Searcy, and Beebe to serve retail consumers, small businesses, college students, and retirees with deposit accounts, loans, Kasasa rewards checking, and digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Personal checking accounts
• Small business lending
• Deposit products
• Consumer loans

Headquarters

HQ city

Augusta

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Traditional bank lending including personal loans, mortgages, and business loans generating interest income as primary revenue stream
2. Deposit Account Fees: Monthly maintenance fees, overdraft fees, ATM fees, and other account-related service charges
3. Credit Card Operations: Interchange fees from debit and credit card transactions, annual fees, and interest charges on revolving balances
4. Breezy Bundle Subscription: $6 monthly fee for bundled insurance and protection services including cell phone protection, roadside assistance, and security benefits

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

RiverWind Bank is an Arkansas-based community bank providing personal and small business banking services. Its core offerings include checking and savings accounts (including Kasasa Cash and Kasasa Cash Back rewards products), certificates of deposit, personal and business loans, credit and debit cards, and digital banking access. The bank also sells the Breezy Bundle, a $6/month add-on providing cell phone protection, accidental death & dismemberment insurance, roadside assistance, and security benefits.

Product overview

RiverWind Bank offers a comprehensive suite of personal and business banking products and services. The core offerings include KASASA Cash Checking (high-yield interest account at 5.00% APY up to $20,000) and KASASA Cash Back Checking (5.00% cash back on debit purchases). The Breezy Bundle ($6/month add-on) provides cell phone protection, roadside assistance, and insurance benefits. Savings products include regular savings, money market accounts, and certificates of deposit. The bank also provides personal loans, credit cards, and debit cards. Business banking includes commercial checking, savings, and lending products. Mobile and online banking platforms enable 24/7 account access. The Roundup program provides automated savings through debit card purchase rounding.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa Cash: High-interest earning checking account with up to 5.00% APY on balances up to $20,000
• Kasasa Cash Back
• Breezy Bundle

Products and services

• Kasasa Cash Checking Interest-earning checking account offering 5.00% APY on balances up to $20,000 (0.50% APY above $20,000) for individual consumers. Requires minimum $100 opening deposit, at least 12 debit card transactions per month, and online banking enrollment to qualify.
• Kasasa Cash Back Checking Debit card rewards checking account paying 5.00% cash back on up to $200 of debit card purchases per month (maximum $10 cash back monthly) for individual consumers. Requires qualification cycle activities.
• Personal Checking and Savings Accounts
• Certificates of Deposit Time deposit accounts offering fixed interest rates for specified terms, providing stable returns with FDIC insurance coverage for individual savers.
• Personal Loans Custom-tailored loans for personal needs including debt consolidation, home improvements, major purchases, and other financial goals for individual borrowers.
• Personal Credit Cards Personal credit card products offering rewards, cash back, and purchasing power for everyday transactions and larger purchases for individual consumers.
• Debit Cards RiverWind Bank issued MasterCard debit cards providing direct access to checking accounts for purchases and ATM withdrawals for personal account holders.
• Mobile Banking Free mobile banking service allowing customers to manage finances, check balances, transfer funds, pay bills, and deposit checks via smartphone or tablet.
• Online Banking
• Business Checking and Savings Accounts Commercial banking products including checking, savings, and money market accounts designed for business operations and cash management for small to medium-sized businesses.
• Business Loans Commercial lending products including lines of credit, term loans, and specialized financing for business growth and operations for small to medium-sized businesses.
• Breezy Bundle Premium account add-on service priced at $6/month providing cell phone protection, accidental death & dismemberment insurance, roadside assistance, and over a dozen additional benefits for personal checking account holders.

Quantifiable outcome

• 50% growth in loans, assets, and deposits over 7 years under current leadership
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• First Security Bank: Arkansas-based community bank with similar personal and business banking offerings, branch network across smaller Arkansas markets, and comparable focus on local decision-making. Most directly comparable peer given overlapping geography, product set, and target customers.
• Today's Bank: Small Arkansas community bank offering personal checking, savings, loans, and business banking with similar community-bank positioning in rural Arkansas markets. Comparable in scale, product breadth, and target customer segments.
• Generations Bank: Community bank operating in Arkansas with personal, business, and mortgage lending products serving similar small-town markets. Comparable as a small Arkansas community bank pursuing growth in similar customer segments.
• Centennial Bank: Arkansas-headquartered community bank offering full personal and commercial banking products across the state. Directly comparable on product mix, geographic focus in Arkansas, and community-bank positioning, though larger in scale.
• Simmons Bank: Arkansas-headquartered bank offering personal, business, and wealth management services with significant branch presence across Arkansas. Closely comparable product set and regional focus, but materially larger scale.
• First National Bank of Izard County: Small rural Arkansas community bank offering personal and small-business banking in similar low-population Arkansas markets. Comparable on scale, rural community-bank positioning, and product simplicity.
• Southern Bancorp: Community development financial institution with branches across rural Arkansas and Mississippi Delta offering personal, small-business, and agricultural banking. Comparable in scale, rural community focus, and target demographic segments.

Broad incumbents

• Bank OZK: Major Arkansas-based bank offering comprehensive banking, lending, and wealth services across the state and nationally. Comparable product breadth and Arkansas customer base, but operates at substantially larger scale with broader geographic reach.
• Arvest Bank: Large Arkansas-based regional bank with extensive branch network across Arkansas, Oklahoma, and surrounding states. Comparable full-service banking product set and Arkansas community presence, but at materially larger scale than RiverWind.

Emerging players

• Encore Bank: Arkansas-based community bank offering personal, business, and wealth management products with growth ambitions in mid-sized markets. Comparable as a smaller Arkansas-headquartered community bank with growth strategy, though targeting slightly different customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 RiverWind Bank