Port Washington State Bank

What Port Washington State Bank does

Port Washington State Bank (DBA "PWSB") is a privately held, family-owned community bank founded in 1899 and headquartered in Port Washington, Wisconsin. It operates a traditional retail and commercial banking model across eight branch locations in Ozaukee County (Belgium, Cedarburg, Fredonia, Grafton, Mequon, Port Washington, Saukville, Thiensville), serving individual consumers, small-to-mid-size businesses, and lower-income borrowers within southeastern Wisconsin. The bank is state-chartered under Wisconsin law, FDIC-insured, an Equal Housing Lender, and USA PATRIOT Act compliant (NMLS #460289). Headcount falls in the 101–250 range, with over 60 staff at the Port Washington headquarters covering underwriting, loan processing, servicing, commercial lending, and administration.

The product portfolio spans three pillars: personal banking (checking tiers including AdvantEdge and Essential, savings/money market accounts, CDs, IRAs, HSAs, mortgages across fixed/ARM/construction/lot/bridge, HELOCs, auto/personal loans, and an Affordable Loan Program for income-qualified borrowers); business banking (commercial real estate, construction, lines of credit, equipment leases, treasury management, merchant services, and SBA/WHEDA guaranteed loans plus the Ozaukee County Business Loan Program); and digital channels (personal/business online banking, iOS/Android mobile app, Zelle, bill pay, digital wallets via Apple Pay/Google Pay/Samsung Wallet, telebanking, Notifi and two-way-text fraud alerts, uChoose Rewards, and ClickSWITCH account switching). The underlying technology is a standard retail-banking stack for core banking, ACH, EFT, and digital-wallet integration rather than proprietary platform IP; credit cards are issued via a third party (Elan Financial Services under a Visa license).

Revenue mechanics are those of a classic community bank: net interest income (spread between loan interest and deposit costs) is the primary driver, supplemented by transaction and service fees (deposit account/overdraft fees, mortgage origination and servicing, credit-card revenue share with Elan, treasury and merchant fees, and digital-banking fees). Go-to-market is relationship/sales-led through branches and dedicated business bankers, complemented by direct-to-consumer digital self-service. The bank differentiates on local decision-making, five-generation family ownership, and deep community involvement (donations, financial-literacy programming reaching 1,400+ students annually, volunteerism).

Name

Port Washington State Bank

Legal name

Port Washington State Bank

Website

https://pwsb.bank

Company type

Private

Founded year

1899

Operating status

Operating

Headcount range

101–250 employees

Short description

Port Washington State Bank is a family-owned, FDIC-insured community bank founded in 1899, operating eight branches in Ozaukee County, Wisconsin, providing personal and business deposit, lending, mortgage, and digital banking services to local consumers and small-to-mid-size businesses.

Ownership category

akta.pro rank

Headquarters

HQ city

Port Washington

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Traditional bank revenue from spread between interest earned on loans (mortgages, commercial loans, consumer loans) and interest paid on deposits (checking, savings, CDs, money market accounts). Primary revenue driver for community bank.
2. Credit Card Fees: Revenue share arrangement with Elan Financial Services for credit card issuance and servicing. Cards are issued under Visa license.
3. Deposit Account Fees: Monthly service charges on checking and savings accounts when minimum balance requirements are not met. Overdraft fees, wire transfer fees, ATM fees, and other service charges.
4. Mortgage Origination and Servicing: Revenue from mortgage loan origination, servicing rights, and interest on held mortgages. Mortgages are locally serviced providing ongoing customer relationship.
5. Digital Banking Services: Fees from online bill pay, external transfers, and other digital banking services. Electronic statement (e-statement) savings offset some fee revenue.
6. Commercial Banking Services: Treasury management fees, merchant services revenue, business credit cards, business lending fees, and commercial deposit relationship fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Port Washington State Bank is a family-owned community bank providing personal and business banking products including checking, savings, CDs, IRAs, mortgages, home equity loans, personal loans, auto loans, credit cards, and debit cards. It delivers commercial lending, treasury management, merchant services, and SBA/WHEDA-guaranteed loans to businesses across Ozaukee County, Wisconsin. Services are delivered through eight branch locations and a full digital banking platform including online, mobile, telebanking, and digital wallet integrations.

Product overview

Port Washington State Bank (PWSB) is a locally owned, family-run community bank serving Ozaukee County, Wisconsin for over 120 years. Its product portfolio is organized around three core pillars: (1) Personal Banking — including AdvantEdge Checking (Essential, AdvantEdge, and AdvantEdge Plus Interest variants), Regular/Youth/Holiday/Health Savings Accounts, Certificates of Deposit, Individual Retirement Accounts (Traditional and Roth), Premium and standard Money Market Accounts, credit cards (via Elan Financial Services), debit cards, personal loans, mortgage products (Fixed-Rate, Adjustable-Rate, Construction, Lot, Bridge, and Special Programs), Home Equity Loans and HELOCs, car loans, the Affordable Loan Program, and overdraft protection (Savings Sweep and Personal Reserve Account); (2) Business Banking — including Business Checking and Savings Accounts, Business Loans, Commercial Real Estate Loans, Business Construction Loans, Business Lines of Credit, Equipment Leases, the Ozaukee County Business Loan Program, SBA and WHEDA Guaranteed Loans, Merchant Services, Treasury Management, Remote Deposit Capture, and Business Credit/Debit Cards; and (3) Digital Banking Channels — Personal Online Banking, Business Online Banking, Mobile Banking (iOS/Android), Card Management, Bill Pay, Digital Wallets (Apple Pay, Google Pay, Samsung Wallet), Zelle peer-to-peer payments, Telebanking, Notifi Alerts, Two-Way Text Fraud Alerts, uChoose Rewards, the Switch Kit (ClickSWITCH), Financial Calculators, and the eLearning Center. All products are delivered through 8 branch locations in Ozaukee County, with FDIC insurance and locally-based lending decisions.

Differentiator

Problem solved

Functional benefit

Products and services

• AdvantEdge Checking Plus Interest Personal interest-earning checking account with $25 minimum opening balance, $1,500 minimum daily balance to avoid a $10 monthly service charge, monthly interest, and BaZing benefits including shopping/dining discounts, travel benefits, cell phone protection, $2,500 identity theft benefit, and $10,000 travel accidental death insurance.
• AdvantEdge Checking Account Personal checking account with no minimum daily balance requirement, $25 minimum to open, and a $6 monthly service charge that covers BaZing identity theft aid and discount benefits for account holders.
• Essential Checking Account Basic personal checking account requiring $100 minimum daily balance or monthly direct deposit to avoid an $8 monthly service charge; monthly charge waived for customers under 25. Includes Visa Debit Card with Digital Wallet, Mobile Banking, E-Statements, and Telebanking.
• Money Market Account Hybrid savings/checking account earning interest with check-writing privileges, requiring $1,000 minimum daily balance to avoid a $6 monthly service charge.
• Premium Money Market Account High-balance money market account with $10,000 minimum to open and maintain, paying elevated interest rates with unlimited withdrawals and monthly interest credited to the account.
• Regular Savings Account Standard personal savings account with $1 minimum opening balance, $200 minimum daily balance to avoid a $5 monthly service charge (waived for under-25 customers or with $20 monthly transfer), paying monthly interest.
• Youth Savings Account Savings account for children age 17 or younger with no monthly fees or minimum balance, designed to teach financial responsibility.
• Holiday Savings Account Seasonal savings account with no monthly fees and annual interest paid via check mailed in the third week of October; automatically renews unless no deposits within 90 days after maturity.
• Health Savings Account (HSA) Tax-advantaged savings account for individuals with qualified high-deductible health plans featuring tax-free contributions, growth, and withdrawals for eligible medical expenses; $25 opening deposit.
• Certificate of Deposit (CD) Fixed-rate, fixed-term savings with terms from 90 days to 5 years, $1,000 minimum to open. Available as standard CDs and IRA CDs with multiple interest payment options.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings available as Traditional IRA or Roth IRA with competitive interest rates, quarterly compounding, FDIC insurance, no annual administration fee, and automatic renewal option.
• Affordable Loan Program Unsecured personal loan up to $2,500 at a below-market rate for individuals meeting income limits ($53,350 in 2026), with 50% or lower debt-to-income ratio, 620 minimum credit score, and 6-month existing PWSB relationship required.
• Fixed-Rate Mortgage Conventional mortgage with a locked interest rate and fixed monthly payment throughout the loan term, offering stability and predictability for budget planning.
• Adjustable-Rate Mortgage (ARM) Mortgage with an initial fixed rate for a short period (typically 3 or 5 years), after which the rate and payment adjust annually for the remainder of the term.
• Construction Loan Short-term loan for building a new home, requiring interest-only payments on the outstanding balance during construction; converts to permanent financing upon completion.
• Lot Loan (Land Loan) Financing for the purchase of land intended for future home construction or development, securing the lot as collateral.
• Bridge Loan Short-term loan enabling borrowers to use equity in their current home as a down payment for a new construction or property purchase before the existing home is sold.
• Special Loan Programs Specialized mortgage programs targeting first-time homebuyers, low-to-moderate income applicants, low/no down payment borrowers, and applicants with less-than-perfect credit.
• Mortgage Refinance Refinancing options to lower interest rates, shorten loan terms, or access home equity through cash-out refinancing for home improvements, tuition, or other large expenses.
• Home Equity Loan Lump-sum loan using the equity in the home as collateral, repaid in fixed installments over a set term at a fixed interest rate.
• Home Equity Line of Credit (HELOC) Revolving line of credit secured by home equity, allowing borrowers to draw funds as needed up to a set limit during a draw period.
• Car Loans Installment loans for purchasing vehicles, with terms and repayment schedules structured to fit the borrower's financial resources.
• Personal Loans Unsecured installment loans for various personal financial needs, including debt consolidation, major purchases, and unexpected expenses.
• Credit Cards (Elan Financial Services Partnership) Credit cards issued through a partnership with Elan Financial Services under a Visa license, offering multiple card options for personal banking needs, with mobile app support for balance, transactions, and card lock/unlock.
• Debit Cards Visa debit cards linked to personal and business checking accounts, accepted at any Visa location worldwide, with digital wallet integration and card management features including on/off toggle, spending limits, location restrictions, and fraud alerts.
• Business Loans Term loans for capital purchases of equipment, vehicles, and other fixed assets, with flexible terms and repayment schedules. PWSB also actively provides SBA and WHEDA guaranteed loans.
• Commercial Real Estate Loans Financing for commercial property expansion, relocation, land purchase, new facility construction, or refinancing of existing commercial debt.
• Business Construction Loan Financing for commercial or industrial buildings, multi-family housing, or residential development construction projects.
• Business Line of Credit Revolving credit line for managing seasonal or cyclical working capital needs of a business, drawn as needed up to a credit limit.
• Business Equipment Leases Equipment leasing for nearly any type of equipment including new and used, structured as tax leases or capital leases, with no termination or prepayment penalties.
• Ozaukee County Business Loan Program Low-cost community development loans up to $50,000 at below-market rates for up to 10-year terms, for businesses located in Ozaukee County to encourage new investment, startup, and expansion.
• Business Checking Accounts Business checking accounts with full-service online banking access, balance review, fund transfers, loan payment capabilities, check image viewing, and data export to financial software, with add-ons including ACH Origination, Online Bill Pay, and Check/ACH Positive Pay.
• Business Savings Accounts Savings accounts for business clients to hold business reserves and earn interest.
• Merchant Services Payment processing and merchant services enabling businesses to accept card-based payments from customers.
• Business Services Business banking services including Remote Deposit Capture, allowing businesses to deposit checks remotely without visiting a branch.
• Treasury Management Cash flow reporting, tools, and treasury management solutions to help businesses manage payments, cash position, and financial operations.
• Business Credit Card Credit card product for business clients offered through the Elan Financial Services partnership.
• Business Debit Cards Visa debit cards for business checking accounts, usable anywhere Visa is accepted, for ATM transactions, and with digital wallet support, with no annual fee.
• Personal Online Banking Full-service 24/7/365 online banking platform for personal accounts providing balance and credit checking, fund transfers, exports to Quicken/QuickBooks/Microsoft Money/Excel, email alerts, online check images, E-Statements, Online Bill Pay, Zelle, and External Transfers.
• Business Online Banking Full-service online banking for business accounts accessible from desktop or mobile phone, providing balance review, cancelled check images, data export, fund transfers, loan payments, and monthly statement viewing, with add-ons for ACH Origination, Online Bill Pay, and Check/ACH Positive Pay.
• Mobile Banking Mobile banking application for iOS and Android providing 24/7 account access, fund transfers, bill pay, card management, fraud alerts, and digital wallet integration via the PWSB Personal Mobile Banking app.
• Digital Wallet Support for adding personal and business debit and credit cards to digital wallets including Apple Pay, Google Pay, and Samsung Wallet for contactless in-store, app, and web payments.
• uChoose Rewards Rewards program offering points on debit and credit card purchases that can be redeemed for gift cards, merchandise, travel, and other rewards.
• Overdraft Protection (Personal Reserve Account & Savings Sweep) Overdraft protection through a Personal Reserve Account line of credit (subject to credit approval, with a $25 annual fee) and automatic Savings Sweep transfers from Regular Savings or Money Market Accounts ($10 fee per use).
• Investment Partners Investment and insurance services offered through partner providers, including securities and advisory products, accessible through PWSB's relationship-banking model.

Quantifiable outcome

• Fast local lending decisions - all lending decisions made locally versus larger banks
• +1 more outcomes

Named customers7 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

Integration17 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Ozaukee CountycoreStrategic or Co-development Partner · 30 April 2019Ozaukee County Business Loan Program administered through PWSB offering low-cost loans up to $50,000 at below-market interest rates for up to 10-year terms. Purpose is to encourage new business investment and strengthen communities by assisting with startup and expansion costs. As of April 30, 2019, consolidated from individual municipal programs to county-wide initiative.
• Elan Financial ServicescoreChannel Partner/ Reseller/ DistributorElan Financial Services is the credit card partner for Port Washington State Bank, providing credit card issuance and servicing under a Visa license. Cards are cobranded and offered through PWSB's website and branches. Elan provides the mobile app for credit card management including balance checking, transaction viewing, and card lock/unlock functionality.
• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerPWSB actively provides SBA guaranteed loans to small businesses as part of their business lending program. SBA loans help provide longer terms and higher loan-to-value ratios, leaving more cash in the business for operating purposes. PWSB helps customers through the SBA loan process.
• Wisconsin Housing and Economic Development Authority (WHEDA)coreStrategic or Co-development PartnerPWSB provides WHEDA guaranteed loans as an alternative financing option for small businesses. WHEDA loans are highlighted as part of the bank's special loan programs alongside SBA financing.
• ABA FoundationminorGTM or Marketing PartnerABA Foundation sponsors the Safe Banking for Seniors program that PWSB hosts to help older adults learn about avoiding scams, protecting identity, and safe digital banking practices.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lake Michigan Credit Union: Michigan-based credit union with growing Wisconsin presence, competing for consumer deposits, mortgages, and small business banking in the same affluent southeastern Wisconsin markets served by PWSB. Direct competitor in deposit and household banking relationships despite credit union charter.
• North Shore Bank: Wisconsin-based community bank serving the greater Milwaukee metro area, including affluent suburban markets similar to Ozaukee County. Comparable in scale and product mix (consumer, mortgage, business banking) with a multi-branch, relationship-based model.
• WaterStone Bank: Wisconsin community bank headquartered in Wauwatosa (Milwaukee suburb) offering consumer, mortgage, and business banking products. Similar size and product breadth to PWSB, serving overlapping southeastern Wisconsin geography.
• First Bank Financial Centre: Wisconsin-headquartered community bank offering personal and business banking products with a relationship-driven model. Comparable mid-sized community bank operating in southeastern Wisconsin adjacent to PWSB's market.
• PyraMax Bank: Wisconsin community bank offering consumer, mortgage, and commercial banking services. Comparable mid-sized community bank serving southeastern Wisconsin with similar product mix and branch-based distribution.
• Bank Five Nine: Wisconsin community bank headquartered in Oconomowoc serving Waukesha County and surrounding areas. Similar scale, relationship-driven model, and full-service consumer/business/mortgage banking suite.

Broad incumbents

• Associated Bank: Wisconsin-headquartered regional bank (Green Bay) and one of the largest banks in the state. Overlaps with PWSB on consumer, mortgage, and commercial banking products but operates at significantly greater scale across Wisconsin and the upper Midwest.
• Johnson Bank: Wisconsin-headquartered bank (Racine) offering consumer, business, and wealth management services. Larger scale than PWSB with broader geographic reach and more diversified fee income from wealth and trust services.
• BMO Bank (formerly BMO Harris): Major regional/national bank with a significant Wisconsin branch presence. Competes with PWSB for consumer deposits, mortgages, and small business banking in Ozaukee County and southeastern Wisconsin, with substantially larger scale and product breadth.
• Town Bank (Wintrust): Wisconsin community bank subsidiary of Wintrust Financial, a larger regional banking platform headquartered in Illinois. Comparable Wisconsin footprint and community banking model, but with backing from a publicly traded multi-bank holding company providing broader product capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC501s0tiBlpxWeksp8CdShw
• Facebookfacebook.com/portwashingtonstatebank
• LinkedInlinkedin.com/company/port-washington-state-bank
• Instagraminstagram.com/portwashingtonstatebank
• Xx.com/PWSB_WI

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 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 Port Washington State Bank