Peoples State Bank

What Peoples State Bank does

Peoples State Bank is a Wisconsin-chartered community bank founded in 1962 and headquartered in Wausau. As of March 31, 2026, it operated 12 full-service branches across Marathon, Oneida, Vilas, Portage, Milwaukee, and Waukesha counties, holding approximately $1.50 billion in consolidated assets, $1.12 billion in net loans, $1.19 billion in deposits, and $133.87 million in stockholders' equity. Its parent, PSB Holdings, Inc., is publicly traded on OTCQX under ticker PSBQ and is owned by over 1,000 shareholders, the majority of whom live and work in northcentral Wisconsin.

The bank offers a full suite of personal and business banking products: deposit products (checking, savings, money market, CDs, IRAs, HSAs), lending products (residential mortgages, home equity, consumer, auto, student, commercial real estate, SBA, equipment financing, and healthcare specialty lending), credit cards, private banking, and wealth management through its Peoples Wealth Management division. Distribution is primarily through physical branches augmented by Video Teller ATMs (ITMs), a full-featured mobile banking app (BankPeoples on iOS and Android), online banking with Zelle peer-to-peer payments, and the Autobooks business invoicing and payment platform. Other digital modules include My Credit Manager credit score monitoring, mobile deposit, digital wallet support (Apple Pay, Google Pay, Samsung Wallet), and the Peoples Balance Banking account (Bank On certified).

Revenue is generated primarily through net interest margin on loans and investment securities, supplemented by deposit and service fees, overdraft fees, ATM fees, wealth management and insurance commissions, and digital banking service fees. Pricing includes tiered checking and savings products (with promotional Super Saver rates up to 3.50% APY and CD specials) and competitive mortgage and loan rates. The bank emphasizes relationship-driven, community-led go-to-market with local loan decision-making. In May 2026, Bank First Corporation (Nasdaq: BFC) agreed to acquire PSB Holdings in an all-stock transaction valued at approximately $202.9 million, expected to close in Q4 2026, creating a $7.6 billion-asset combined institution.

Name

Peoples State Bank

Legal name

Peoples State Bank

Website

https://bankpeoples.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

101–250 employees

Short description

Peoples State Bank is a Wisconsin community bank founded in 1962 serving personal and business customers through 12 branches across the state, offering deposits, lending, digital banking, SBA loans, and wealth management with approximately $1.50 billion in assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

High-Net-Worth (HNW) Private Banking (FSABADAB)

Keywords

• Community banking
• Personal banking
• Business banking
• Mortgage lending
• Wealth management

Headquarters

HQ city

Wausau

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue stream from interest earned on loans (commercial, residential mortgage, consumer, SBA) and investment securities. Core banking revenue generated from net interest margin on lending activities.
2. Deposit and Service Fees: Fee income from deposit account services including monthly service charges, overdraft fees, ATM fees, wire transfer fees, and other account-related services.
3. Wealth Management and Insurance: Revenue from investment products, insurance products, and retirement planning services offered through Peoples Wealth Management division.
4. Digital Banking Services: Revenue from digital banking products including online bill pay, mobile banking, and integrated business services like Autobooks.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Peoples State Bank is a Wisconsin-based community bank that provides deposit products (checking, savings, money market, CDs/IRAs, HSAs), lending products (mortgages, home equity, personal, auto, student, business loans, SBA loans, equipment financing, commercial real estate, and healthcare specialty lending), credit cards, digital and mobile banking, and wealth management services through 12 full-service branches and integrated online/mobile channels.

Product overview

Peoples State Bank offers a comprehensive community banking platform serving personal and business customers across Wisconsin. The core offering includes deposit products (checking, savings, money market, CDs/IRAs, HSAs), lending products (mortgages, home equity, personal loans, auto loans, student loans), and credit cards. Digital banking is the primary channel, accessible via online and mobile applications (iOS/Android). Key integrated modules include Autobooks for business invoicing and payments, My Credit Manager for credit score monitoring, Video Teller-ATMs for hybrid assisted transactions, and Peoples Wealth Management for investment services. The bank emphasizes relationship-based community banking augmented by digital capabilities including Zelle P2P payments, mobile deposit, digital wallets (Apple Pay, Google Pay, Samsung Pay), and online bill pay. A loyalty program rewards customers who maintain multiple products. Recent expansion includes new branches in southeastern Wisconsin markets.

Differentiator

Problem solved

Functional benefit

Brands

• Peoples Wealth Management: Division providing investment and insurance products, along with retirement planning services.

Products and services

• Personal Checking Accounts Multiple personal checking account options including Edge (no monthly charge), Interest (interest-bearing with minimum balance), and Balance Banking (no overdraft fees) designed for individual consumers and families.
• Personal Savings Accounts Savings products for individuals including regular savings, Super Saver Account (up to 3.50% APY on balances up to $50,000), Money Market Accounts, and Certificates of Deposit (CDs) & IRAs.
• Mortgage Loans Home financing options including fixed-rate mortgages, adjustable-rate mortgages, WHEDA Advantage loans, Guaranteed Rural Housing loans, FHA/VA loans, construction loans, and land loans.
• Personal Loans Unsecured personal loans for individual consumer borrowing needs.
• Auto Loans Vehicle financing options for individual consumers purchasing personal-use vehicles.
• Home Equity Loans Home equity lending products allowing homeowners to borrow against the equity in their residence.
• Student Loans Education financing options to help students and families pay for higher education expenses.
• Credit Cards Peoples branded credit card products with rewards programs and mobile wallet compatibility for personal and business customers.
• Business Checking Accounts Six different business checking account options designed for business needs, along with Business Debit Cards.
• Business Savings Accounts Business savings and money market accounts for commercial customers.
• Cash Management Treasury management services for business customers including Positive Pay fraud protection and other cash flow management tools.
• SBA Loans Small Business Administration loan products offered through the bank's SBA Preferred Lender program for qualifying small businesses.
• Equipment Financing

Quantifiable outcome

• 59% employee participation in community service
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Bank First CorporationcoreStrategic or Co-development Partner · 19 May 2026Bank First Corporation (Nasdaq: BFC) agreed to acquire PSB Holdings Inc. (Peoples State Bank parent) in an all-stock transaction valued at approximately $202.9 million. The merger brings together two relationship-driven community banks with shared commitment to responsive, solutions-oriented service. Expected to close Q4 2026 pending regulatory and shareholder approval.
• Larson Financial Group, LLCminorStrategic or Co-development Partner · 2 January 2025Well-respected Wausau financial advisory business that joined Peoples State Bank, enhancing wealth management and financial planning services.
• CinnaireminorStrategic or Co-development Partner · 8 July 2024Partnership to invest in affordable housing for communities in Wisconsin. Cinnaire is a community development financial institution focused on affordable housing and community development.
• La CasaminorStrategic or Co-development Partner · 8 July 2024Community partnership focused on supporting housing and community development initiatives in Wisconsin.
• AvannisminorStrategic or Co-development Partner · 1 January 2023Professional research firm partnered with Peoples to collect annual customer feedback through phone and email surveys. Surveys collect information on employee interactions, service quality, and customer experience without requesting personal or account information.
• AutobookscoreTechnology or Integration · 1 September 2022Integrated business invoicing and payment automation platform available through Peoples online and mobile banking. Provides customized invoicing with branding, digital payment options (credit card, debit card, ACH), automated invoice tracking, QR code payments, and financial management tools for business customers.
• Allpoint NetworkcoreTechnology or Integration · 2 June 2022Surcharge-free ATM access through Allpoint network providing over 55,000 ATMs worldwide. Enables Peoples customers to access cash without ATM fees while traveling throughout the United States.
• ECDC Multicultural CenterminorStrategic or Co-development Partner · 31 January 2022Partnership with Ethiopian Community Development Council's Multicultural Center in Wausau to assist Afghan refugees by opening bank accounts. Peoples identified senior employees at Wausau locations to assist refugees in opening their first checking account.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bank First Corporation: Nasdaq-listed Wisconsin community bank holding company that announced an all-stock acquisition of PSB Holdings in May 2026. Directly comparable in geography, customer segments (SMB, consumer, agricultural), and relationship-driven community banking model.
• Investors Community Bank: Wisconsin-based community bank focused on relationship lending and local decision-making. Comparable in footprint (Wisconsin), target segments, and SMB/commercial lending orientation.
• Equity Bancshares: Community bank holding company (NYSE: EQBK) with comparable mid-size asset base and similar community banking model targeting SMBs and consumers, focused primarily in the Midwest.
• Nicolet National Bank: Wisconsin-headquartered community bank serving consumer and commercial customers across northern Wisconsin and the Upper Peninsula. Closely comparable in geography, branch footprint style, and community banking focus.
• SB Financial Group: Ohio-based community bank holding company (Nasdaq: SBFG) of similar asset scale. Comparable in business model (community banking, SBA, specialty lending) and target customer mix (SMB and consumer).
• River Valley Bank: Wisconsin-based community bank serving consumers and small businesses, with comparable asset scale and local decision-making community banking model.

Regional players

• Settlers Bank: Wisconsin community bank with comparable asset scale, branch footprint philosophy, and consumer/SMB deposit and lending focus; a relevant regional comparable for community banking economics.

Broad incumbents

• Heartland Financial USA: Multi-state community bank holding company (Nasdaq: HTLF) with a similar de novo and acquisition-driven community banking strategy. Comparable in SMB/commercial deposit gathering and community bank roll-up model, but operates across 11 states.
• Wintrust Financial Corporation: Midwest-based multi-bank holding company (Nasdaq: WTFC) operating a portfolio of community banks. Comparable community-bank-of-community-banks model and SMB banking focus, but at materially larger scale and broader geography.
• Associated Banc-Corp: Largest Wisconsin-headquartered bank holding company (NYSE: ASB) with a state-wide branch network spanning consumer, commercial, and wealth management. Overlaps heavily with Peoples in Wisconsin geography but operates at significantly greater scale and product breadth.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCH5oMpctBtj96C4cRVFM0-g/featured
• Facebookfacebook.com/PeoplesStateBank
• LinkedInlinkedin.com/company/peoples-state-bank_3
• Instagraminstagram.com/peoplesstatebank.wi
• Xx.com/peopleswi

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 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 Peoples State Bank