MinnStar Bank

What MinnStar Bank does

MinnStar Bank N.A. is a privately held, FDIC-insured community bank headquartered in Mankato, Minnesota, with a second full-service branch in Lake Crystal. The bank traces its origins to the 1919 incorporation of the First National Bank of Good Thunder and the 1933 organization of Lake Crystal National Bank, consolidating under the MinnStar brand in 1992 after acquiring the First State Bank of Good Thunder. It operates exclusively within Blue Earth County in southern Minnesota, serving three primary customer segments: individuals and families (personal checking, savings, CDs, IRAs, mortgages, and HELOCs), local small-to-mid-market businesses (business checking, savings, merchant services with Tap to Pay, payment management, remote deposit capture, and commercial loans), and agricultural operations (ag checking, ag savings, operating loans, equipment financing, and ag real estate loans). The bank's value proposition centers on local decision-making, agricultural lending expertise, and community reinvestment.

The bank's product portfolio spans deposit accounts (Simple Checking at $5/month, Cash Rewards Checking earning $0.10 per debit swipe up to $5, Interest Rewards Checking yielding up to 3.09% APY, tiered Money Market and Elite Savings up to 3.50% APY, and CDs from 90 days to five years with promotional rates of 3.84%–3.85% APY), a full real estate lending suite (residential mortgages, HELOCs, commercial real estate, ag real estate), and a standard digital banking platform. Digital delivery is provided through a Fiserv-powered mobile app and online portal, offering real-time balance visibility, mobile check deposit, Zelle person-to-person payments, bill pay, eStatements, alerts, and card management — functionality that matches industry-table-stakes rather than differentiates the bank.

Revenue is generated primarily through net interest spread on loans and deposits, supplemented by deposit account service charges, overdraft and debit card transaction fees, merchant services revenue, and interchange. The bank is led by CEO/President Mark Monson, who also manages a large commercial loan portfolio, and operates under a locally governed board. The go-to-market motion is relationship-based and sales-led, anchored to its two physical branches and a staff of agricultural lending and mortgage specialists who also produce recurring market commentary for the bank's content channels.

Name

MinnStar Bank

Legal name

MinnStar Bank N.A.

Website

https://minnstarbank.com

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

101–250 employees

Short description

MinnStar Bank is a privately held FDIC-insured community bank serving individuals, small-to-mid-market businesses, and farm operations in southern Minnesota through branches in Mankato and Lake Crystal, offering personal, business, agribusiness, and real estate lending products alongside a standard Fiserv-powered digital banking platform.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industry

Agricultural & Rural Microfinance (FSAKAGAG)

Keywords

• Community banking services
• Agricultural lending
• Commercial lending
• Retail deposit products
• Small business banking

Headquarters

HQ city

Lake Crystal

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from lending activities including commercial loans, agricultural loans, mortgages, home equity loans, and consumer loans. Mark Monson manages a large commercial loan portfolio.
2. Deposit Account Fees: Monthly service charges, debit card transaction fees, overdraft fees, and service charges on checking and savings accounts
3. Certificate of Deposit Interest Spread: Interest earned on CD investments with competitive rates ranging from 0.10% to 3.85% APY, generating spread income
4. Cash Rewards Checking: Earn $0.10 per debit card purchase up to $5.00 each statement cycle on Cash Rewards Checking accounts

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

MinnStar Bank is a community bank providing personal, business, and agricultural banking products through two branches in Mankato and Lake Crystal, Minnesota. The bank offers checking, savings, certificates of deposit, IRAs, residential and commercial mortgages, agricultural and commercial loans, merchant services, and Fiserv-powered digital banking including mobile deposit, online banking, bill pay, and Zelle.

Product overview

MinnStar Bank is a community bank offering a comprehensive suite of personal, business, and agricultural banking products. The bank's offerings include multiple checking and savings account options (Personal Checking with Simple, Cash Rewards, Interest Rewards, and Classic variants; Personal Savings with Quarterly, Money Market, Elite, and Youth tiers), Certificates of Deposit with terms from 90 days to five years, Traditional and Roth IRAs, and diverse loan products spanning residential mortgages, home equity lines, commercial real estate, agricultural loans, and business credit facilities. Digital banking services are delivered through a Fiserv-powered mobile app and online platform providing 24/7 access to accounts, mobile deposit, bill pay, Zelle person-to-person payments, remote deposit capture for businesses, and merchant services. The bank operates two physical locations in Mankato and Lake Crystal, Minnesota, with a focus on serving the agricultural community through specialized agribusiness banking products.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• CRA Performance Evaluation available showing community lending commitments

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators1 record

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Huntington Bancshares:
• U.S. Bancorp: Minneapolis-headquartered regional bank with deep Minnesota presence across consumer, business, and ag banking. Overlaps with MinnStar on deposits, mortgage, and commercial lending, but operates at national scale with proprietary technology and full ag-finance capabilities.
• Wells Fargo & Company: Major national bank with a large Minnesota retail and ag-banking franchise. Competes for the same consumer deposits, mortgages, and small-business/ag relationships but at vastly larger scale with proprietary digital platforms.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/MinnstarB
• Facebookfacebook.com/MinnStarBankNA
• LinkedInlinkedin.com/company/minnstar-bank-na

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 MinnStar Bank