United Bank of Iowa

What United Bank of Iowa does

United Bank of Iowa is a privately held, FDIC-insured community bank headquartered at 501 2nd St., Ida Grove, Iowa, serving West Central Iowa. Founded in 1932 and operating with 51-100 employees, the institution markets itself as "Iowa's #1 Ag Bank" and serves three primary segments: agricultural operators (its flagship focus with dedicated Ag Checking, Ag Lending, and Farm Management services), personal/individual consumers (checking, savings, mortgage, consumer loans, retirement, trust), and small-to-medium-sized businesses (business checking, commercial lending, business retirement plans). The bank operates a traditional community-bank distribution model, combining physical branch presence with local decision-making authority and digital channels that include online banking, mobile banking, digital wallet, and electronic statements.

The bank's technology stack is standard for the community-bank segment rather than differentiated: a web-based online banking platform, a mobile banking application, digital wallet integration, and electronic statement delivery. Notable third-party integrations include Mastercard for debit card issuance, Shazam for ATM network access and the Shazam Brella fraud-protection service (real-time transaction monitoring, balance alerts, ATM locator), and Visa for credit card servicing. No proprietary AI/ML capabilities, APIs, or developer-facing platforms are disclosed.

The revenue model is a traditional banking spread-and-fee construct: primary revenue from net interest income on mortgage, consumer, agricultural, and commercial loans; secondary revenue from deposit account fees (checking, savings, overdraft, transaction); and recurring fee streams from farm management services and trust/retirement services. The bank does not publicly disclose pricing, interest rates, or fee schedules, with customers directed to local branches for terms. Marketing is community-led — Facebook, Instagram, the "Capturing Rural Iowa" photo contest, Community Cause Day, and content such as "What's Growing On" agricultural insights — reinforcing local brand equity rather than pursuing geographic or segment expansion.

Name

United Bank of Iowa

Legal name

United Bank of Iowa

Website

https://unitedbk.bank

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

51–100 employees

Short description

United Bank of Iowa is a privately held community bank headquartered in Ida Grove, Iowa, offering personal, business, and agricultural banking services — including ag lending and farm management — to customers across West Central Iowa.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking
• Agricultural lending
• Consumer banking
• Mortgage loans
• Farm management

Headquarters

HQ city

Ida Grove

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on mortgage loans, consumer loans, agricultural loans, and business loans. Traditional banking revenue model based on spread between lending rates and deposit rates.
2. Deposit Account Fees: Fees from checking accounts, savings accounts, and other deposit products including potential maintenance fees, overdraft fees, and transaction fees.
3. Farm Management Services: Revenue from farm management services offered to agricultural customers including financial planning and operational support.
4. Trust and Retirement Services: Revenue from trust services and retirement planning offered to personal and business customers.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

United Bank of Iowa is a community bank headquartered in Ida Grove, Iowa, providing deposit accounts (checking, savings), lending products (mortgage, consumer, business, and agricultural loans), farm management services, retirement and trust services, and digital banking channels to personal, business, and agricultural customers in West Central Iowa. The bank positions itself as Iowa's #1 Ag Bank with specialized agricultural financing and farm management expertise.

Product overview

United Bank of Iowa operates as a regional bank offering a unified suite of banking products across personal, business, and agricultural segments. The core banking platform consists of deposit accounts (checking and savings) and lending products (mortgage, consumer, business, and agricultural loans). Digital banking services are delivered through Online Banking and Mobile Banking as the primary digital channels, with Digital Wallet and eStatements as supporting digital add-ons. Agricultural banking represents a key differentiator, with specialized Ag Checking and Ag Lending products, alongside Farm Management consulting services. Additional financial services include Retirement planning, Trust Services, and Insurance/Investment products offered through partnerships. The bank also provides fraud protection through Shazam Brella and accepts Mastercard and Visa payment cards.

Differentiator

Problem solved

Functional benefit

Brands

• Shazam Brella: A fraud protection and ATM locator service offered to customers

Products and services

• Online Banking

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• MastercardcoreTechnology or IntegrationUnited Bank of Iowa issues debit Mastercard cards to customers, providing worldwide acceptance, Zero Liability protection, and access to Mastercard travel services including airport concierge.
• ShazamcoreTechnology or IntegrationShazam provides ATM network access and the Shazam Brella fraud protection service offering balance monitoring, fraud alerts, and ATM locator functionality.
• FDICcoreOthersThe bank is FDIC-insured, backed by the full faith and credit of the U.S. Government, providing deposit insurance protection for customers.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• BMO (formerly Bank of the West): Large North American bank with a historically strong agricultural lending franchise across the Midwest and West. Comparable as a much larger institution competing for the same ag banking customers, but with broader geographic and product scope.

Direct peers

• Farm Credit Services of America: Customer-owned Farm Credit System cooperative providing agricultural loans and services across Iowa, Nebraska, South Dakota, and Wyoming. Directly comparable as the dominant ag lender competing for the same Iowa farm customers UBI serves.
• West Bank (West Bancorporation): Iowa-based community bank holding company headquartered in West Des Moines. Comparable as an Iowa-headquartered commercial banking franchise of similar scale competing for overlapping retail, business, and ag customers.
• Great Western Bancorp: South Dakota-headquartered community bank with significant ag lending across the Midwest, including Iowa. Comparable as a regional bank competing for the same ag and rural community banking customers.
• Heartland Financial USA (HTLF): Multi-bank holding company operating community banks across the Midwest and West, including Dubuque Bank & Trust in Iowa. Comparable as a Midwest community banking platform with overlapping ag and commercial lending focus.
• QCR Holdings: Iowa-based multi-bank holding company (Cedar Rapids Bank & Trust, Community State Bank, etc.). Comparable as an Iowa-headquartered community banking franchise serving similar ag, business, and consumer customers.
• MidWestOne Financial Group: Bank holding company operating MidWestOne Bank across Iowa and the Midwest. Comparable as a Midwest community/regional bank with overlapping ag, business, and consumer lending franchises.
• Hills Bank (Hills Bancorporation): Iowa-based community bank holding company headquartered in Hills. Comparable as a long-standing Iowa community bank serving similar retail, business, and agricultural customers in overlapping rural markets.

Regional players

• Compeer Financial: Farm Credit System cooperative serving Illinois, Minnesota, and Wisconsin farmers. Comparable as a tax-advantaged ag lender serving Midwest farm customers, though in adjacent geographies rather than Iowa.
• GreenStone Farm Credit Services: Farm Credit System cooperative serving Michigan, Wisconsin, and parts of Indiana. Comparable as a Farm Credit ag lender with similar product mix, but operating in a different Midwest region than UBI.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UnitedBankofIowa
• Instagraminstagram.com/unitedbankofiowa

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 United Bank of Iowa