First Citizens Bank (FCB)

What First Citizens Bank (FCB) does

First Citizens Bank (FCB) is a privately-held, FDIC-insured, state-chartered community bank headquartered in Mason City, Iowa, serving retail consumers, small to mid-sized businesses, agricultural operators, and high-net-worth individuals across North Central Iowa and parts of Minnesota. Founded in 1994, the bank operates a seven-branch regional network: two offices in Mason City (West and State Street), plus Charles City, Clarion, New Hampton, and Osage in Iowa, and Mora in Minnesota. Its product portfolio spans personal deposit products (checking, savings, CDs, IRAs, HSAs), consumer and commercial lending (home, auto, personal, student, business, and agricultural loans), credit and debit cards, gift/travel cards, treasury management services (ACH, wire transfers, positive pay, card processing, payroll, invoicing/payments), and a wealth management practice covering fiduciary, advisory, investment management, and retirement plan administration.

The bank's delivery model is hybrid, combining physical branches with a digital banking stack built on a Digital Insight core platform (referenced in the Android app package), supported by iOS and Android mobile apps, online banking, mobile deposit, digital wallet integration (Apple Pay, Google Pay), DocuSign electronic signature, Interactive Teller Machines (ITMs), and live chat. Strategic partnerships extend the platform's reach and value proposition: Greenlight provides a co-branded family debit/financial education wallet, Banzai delivers free financial literacy content to customers, schools, and libraries, Shazam provides surcharge-free ATM network access, Deluxe handles check ordering, and ZixMail secures communications. NMLS #401453 and Equal Housing Lender credentials support the regulatory foundation.

FCB's revenue model is that of a traditional community bank: primarily net interest income on loans and deposits, supplemented by fee income from treasury management, wealth management, card services, and deposit account fees. Customer acquisition is direct-to-consumer, executed through community events, local presence, website/blog content marketing, mobile app store presence, and in-branch relationships across its Iowa and Minnesota footprint.

Name

First Citizens Bank (FCB)

Legal name

First Citizens Bank

Website

https://firstcitizensnb.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

First Citizens Bank is a privately-held, FDIC-insured community bank headquartered in Mason City, Iowa, operating seven branches across Iowa and Minnesota. It provides personal banking, business and agricultural lending, treasury management, and wealth services to consumers, small businesses, and farms.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

akta.pro secondary industry

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

Keywords

• Community banking services
• Personal deposit accounts
• Commercial lending products
• Agricultural loans
• Wealth advisory services

Headquarters

HQ city

Mason City

HQ country

United States

HQ region

North America

Offices7 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 from Loans: Traditional banking revenue from interest charged on loans including home loans, auto loans, personal loans, student loans, business loans, and agricultural loans
2. Deposit Account Fees: Fees from checking accounts, savings accounts, CDs, IRAs, and debit card services
3. Wealth Management Services: Fiduciary services, wealth advisory, investment management, and retirement plan services generating fee-based revenue
4. Treasury Management Services: Business banking services including ACH, wire transfers, positive pay, card processing, and payroll services
5. Credit Card Services: Revenue from personal and business credit cards including interest and transaction fees

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

First Citizens Bank is a state-chartered community bank offering deposit accounts, consumer and commercial loans, treasury management, and wealth management services to individuals, small businesses, and agricultural operations across Iowa and Minnesota. It delivers these products through a seven-branch physical network supplemented by online and mobile banking platforms, FDIC-insured deposits, and partner-enabled digital tools such as Greenlight and Banzai.

Product overview

First Citizens Bank offers a comprehensive banking platform with personal and business banking products across multiple delivery channels including branch, online, and mobile. The personal banking suite includes deposit products (checking, savings, CDs, IRAs, HSAs), lending products (home loans, auto loans, personal loans, student loans), and credit/debit cards. The business banking portfolio encompasses commercial loans, agricultural loans, business checking/savings, and Treasury Management services including ACH, wire transfers, Positive Pay, and card processing. Digital banking services include online banking, mobile banking (iOS/Android apps), mobile deposit, bill pay, digital wallets (Apple Pay/Google Pay), and DocuSign electronic signatures. The bank also provides wealth management services including fiduciary, advisory, investment management, and retirement plan services. Strategic partnerships include Greenlight for family banking solutions and Banzai for financial education. The bank operates exclusively in Iowa and Minnesota with locations in Mason City, Charles City, Clarion, New Hampton, Osage (Iowa) and Mora (Minnesota).

Differentiator

Problem solved

Functional benefit

Brands

• Greenlight Family Wallet: Debit card for kids managed by parents, offered in partnership with Greenlight

Products and services

• Personal Checking Checking accounts for individuals, including options for first-time account openers, with debit cards, online banking access, and account management tools.
• Personal Savings Savings accounts for individuals to deposit and grow funds with competitive interest rates.
• Personal Certificates of Deposit Certificate of Deposit products offering fixed-term savings with guaranteed returns.
• Individual Retirement Accounts Tax-advantaged retirement savings accounts including Traditional and Roth IRA options.
• Health Savings Accounts Tax-advantaged accounts for individuals with high-deductible health plans to save for medical expenses.
• Personal Debit Cards Debit cards linked to personal checking accounts for ATM access and point-of-sale purchases.
• Personal Credit Cards Credit card products for personal use with various rewards and benefit programs.
• Home Loans Mortgage and home lending products including purchase loans, refinancing, and home equity options.
• Auto, Boat, and Recreation Loans Financing options for vehicles, boats, and recreational equipment purchases.
• Personal Loans Unsecured personal loans for debt consolidation, home improvements, and major purchases.
• Student Loans Education financing products for students and parents to fund higher education expenses.
• Business Checking Commercial checking accounts with cash management and reporting features for business operations.
• Business Savings Business savings accounts for depositing and growing business funds.
• Business and Commercial Loans Commercial lending products for business expansion, equipment, and operational financing needs.
• Ag and Agribusiness Loans Specialized agricultural lending for farmers and agribusiness operations including operating lines and equipment financing.
• Business Debit Cards Debit cards designed for business accounts with spending controls and expense tracking features.
• Business Credit Cards Credit card products designed for business spending with expense management and rewards programs.
• Treasury Management Cash management and treasury services for businesses including liquidity management and payment optimization.
• Card Processing Services Merchant card processing services for businesses to accept credit and debit card payments.
• HR and Payroll Services Payroll processing and HR services for business customers to manage employee compensation.
• Invoicing and Payments Digital invoicing and payment collection services for business customers with AutoBooks integration.
• Positive Pay Fraud prevention service for business accounts that matches checks and electronic transactions against issued payments.
• Wealth Management Comprehensive wealth management services including investment management, financial planning, and portfolio advisory.
• Fiduciary Services Trust and fiduciary services including estate planning, trust administration, and trustee services.
• Wealth Advisory Services Personalized financial advisory services for high-net-worth individuals and families.
• Investment Management Services Professional investment management including portfolio construction, rebalancing, and performance monitoring.
• Retirement Plan Services Retirement plan administration and management services for businesses including 401(k) plans.
• Online Banking Web-based banking platform for account management, transactions, bill payment, and eStatements.
• Mobile Banking Smartphone and tablet banking application for iOS and Android with account access, mobile deposit, and more.
• Greenlight Family Wallet Co-branded debit card for kids managed by parents, offered in partnership with Greenlight, including financial education tools and parental controls.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• GreenlightcoreTechnology or IntegrationPartnership with Greenlight to offer debit cards for kids managed by parents. First Citizens Bank promotes custom card promo options for children through this integration, providing family financial management tools.
• BanzaicoreStrategic or Co-development PartnerPartnership with Banzai to provide FREE financial education to customers, communities, local schools, and public libraries. Banzai platform offers articles, calculators, courses, and coaches on topics like saving, budgeting, housing, and life changes.
• ShazamcoreTechnology or IntegrationShazam ATM network partnership providing surcharge-free ATM access to First Citizens Bank customers across the network.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• BankIowa: Iowa-headquartered community bank offering personal, business, and ag lending across Iowa. Highly comparable to FCB given similar geographic concentration in Iowa, comparable product mix (deposits, loans, business banking), and similar community-bank GTM model.
• Hills Bank: Iowa-based community bank (est. 1904) headquartered in Hills, Iowa, with branches across eastern Iowa. Offers consumer and business banking with deep ag lending expertise — directly comparable to FCB's Iowa footprint and ag-heavy commercial book.
• MidWestOne Bank: Regional bank with presence in Iowa, Minnesota, Wisconsin, and Florida. Offers similar deposit, commercial, ag, and wealth management products, but at larger scale. Closest mid-tier regional peer to FCB's IA/MN footprint.
• First Bankers Trust: Midwest community bank serving Iowa and Illinois with personal banking, business banking, and ag lending. Comparable in scale, product mix, and community-bank GTM to FCB.
• Northwest Bank (Iowa): Iowa-headquartered community bank offering deposits, commercial loans, ag lending, and digital banking. Direct geographic and product-set overlap with FCB's Iowa/Minnesota operations.

Broad incumbents

• Bremer Financial: Large Minnesota-based regional bank serving MN, WI, ND. Offers broader corporate banking, treasury management, and wealth services than FCB. Comparable on Minnesota footprint but at significantly larger scale.
• Heartland Financial (HTLF): Multi-state community banking franchise operating across the Midwest, West, and Southwest. Comparable community-banking DNA and product set to FCB, but materially larger scale and broader geographic diversification.
• U.S. Bancorp: Top-five US national bank with major retail, commercial, ag, and wealth operations in Iowa and Minnesota. Dominant incumbent in FCB's core markets — represents the primary competitive pressure on FCB's deposit base and loan pricing.

Regional players

• Bell Bank: Minnesota and North Dakota-headquartered community/regional bank with full-service personal, business, ag, and wealth management. Comparable product mix and community-bank DNA, but different geographic concentration (ND vs FCB's IA/MN).
• Alerus Financial: Minnesota and North Dakota-based bank with personal, business, ag, and wealth management services. Comparable community-bank product set, but different primary geographic concentration (ND/MN metro areas vs FCB's IA/MN rural markets).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/firstcitizensnationalbank
• LinkedInlinkedin.com/company/first-citizens-national-bank-fcnb-

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 First Citizens Bank (FCB)