First National Bank of Bemidji

What First National Bank of Bemidji does

First National Bank of Bemidji is a privately held community bank headquartered in Bemidji, Minnesota, founded in 1895 and operating as a subsidiary of First Bemidji Holding Company. The bank is employee-owned through an Employee Stock Ownership Plan (ESOP) established in 1985, a structure that keeps governance and capital decisions local. It serves individuals, families, and small-to-medium-sized businesses across Beltrami County and surrounding communities through two physical branches and a digital banking platform. As of December 31, 2025, the bank reported total assets of $1.01 billion, total deposits of $848.5 million, total loans of $463.8 million, and total equity capital of $82.4 million.

The bank's product set spans four core divisions: Personal Banking (checking, savings, debit/credit cards, personal loans), Business Banking (commercial loans, merchant services, employee benefits, digital products), Investment Services (IRAs, HSAs, CESAs, CDs, stock portfolio management, financial planning), and Mortgage Lending (purchase, construction, refinancing, government programs). The technology stack is built primarily on third-party providers: Fiserv powers the mobile banking app, Baker Hill Solutions (NextGen) provides the online loan-application client portal, DocuSign handles eSignature, Deluxe handles check ordering, and Elan Financial Services supports credit card servicing. AI/ML capabilities are limited to an automated debit-card fraud detection system that monitors transactions for anomalies.

The bank generates revenue primarily through net interest income on its $463.8M loan portfolio and deposit-related fees on its $848.5M deposit base, with supplemental fee income from merchant services, investment advisory, and mortgage origination. Customer acquisition is relationship-driven, relying on local brand recognition built over 125 years, community sponsorships and grants (including a Foundation that disbursed a $33,000 grant to the Neilson Fieldhouse and a $25,000 Project Canopy commitment), and consultation-based sales for higher-value products such as mortgages, commercial loans, and wealth management.

Name

First National Bank of Bemidji

Legal name

First National Bank of Bemidji

Website

https://fnbbemidji.com

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

101–250 employees

Short description

First National Bank of Bemidji is an employee-owned community bank founded in 1895, serving individuals, families, and small-to-medium-sized businesses in Beltrami County, Minnesota through two branches and digital banking channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

National Commercial Banks (6021)

akta.pro primary industry

Government-Insured Mortgage Origination (FHA/VA/USDA) (FSALAAAI)

Keywords

• Community banking
• Retail banking
• Commercial lending
• Mortgage lending
• Wealth management

Headquarters

HQ city

Bemidji

HQ country

United States

HQ region

North America

Offices2 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. Net Interest Income: Interest income from loan portfolio ($463.8M in loans as of 12/31/2025) minus interest paid on deposits. Primary revenue driver for community bank.
2. Deposit Services: Demand, NOW, time, and savings deposits generating fee income. Total deposits of $848.5M as of 12/31/2025.
3. Investment Services: Stock portfolio management, IRAs, financial planning, and advisory services for individuals
4. Mortgage Lending: Residential mortgage originations for home purchases, building, refinancing, and home improvements
5. Commercial Banking: Commercial loans, merchant services, and business banking products

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

First National Bank of Bemidji is an FDIC-insured community bank providing deposit accounts, consumer and commercial loans, mortgage origination, merchant payment processing, and investment advisory services for individuals, families, and small-to-medium businesses in the Bemidji, Minnesota trade area. The bank operates two physical branches plus an online banking portal and Fiserv-powered mobile app, with complementary offerings in retirement and education savings (IRAs, HSAs, CESAs, CDs), stock portfolio management, and financial planning.

Product overview

First National Bank of Bemidji is a community bank offering a comprehensive suite of banking products and services organized into four core divisions: Business Banking (checking, savings, commercial loans, merchant services), Personal Banking (checking, debit cards, personal loans), Investment Services (IRAs, HSAs, CDs, stock portfolio management, financial planning), and Mortgage Lending (home purchase, construction, refinancing). The bank operates as a locally-owned employee-owned community bank with digital banking capabilities through online and mobile platforms, supplemented by educational resources and financial calculators.

Differentiator

Problem solved

Functional benefit

Brands

• Project Canopy: A tree replanting fund launched in partnership with Northwest Minnesota Foundation following the June 2024 storm that destroyed millions of trees in the region. The bank committed $25,000 to launch this community restoration initiative.

Products and services

• Business Banking Comprehensive business banking services including business checking and savings, commercial loans and lines of credit, business credit cards, merchant services, digital products, and employee benefit banking services for businesses of all sizes in the Bemidji trade area.
• Personal Banking Individual banking services including checking accounts, debit cards, savings accounts, personal loans, credit cards, safe deposit boxes, credit score monitoring, and bank services for personal customers in the Bemidji trade area.
• Investment Services Wealth management and investment products including Individual Retirement Accounts (IRAs), Coverdell Education Savings Accounts (CESAs), Health Savings Accounts (HSAs), Certificates of Deposit (CDs), stock portfolio management, and financial planning services for individuals.
• Mortgage Lending Home financing solutions including home purchase loans, construction loans, refinancing, home improvement loans, investment property and second home loans, and government-backed programs (FHA, VA, USDA) for homebuyers in the Bemidji trade area.
• Online & Mobile Banking Digital banking platform enabling customers to view account balances and transactions, make transfers, pay bills, deposit checks via mobile, receive alerts, control debit cards, and submit loan applications through an online client portal and Fiserv-powered mobile app.
• Merchant Services Business payment processing solutions including payment processing, mobile payments, and point-of-sale systems for merchant customers of the bank.
• Safe Deposit Box Secure storage service for valuable documents and items offered to customers through the bank's Bemidji branch locations.
• Credit Score Monitoring Credit score monitoring service to help personal banking customers track and manage changes in their credit profiles over time.

Quantifiable outcome

• Over 125 years in business serving Bemidji area
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core.

• Northwest Minnesota FoundationcoreStrategic or Co-development Partner · 1 July 2025Partnership for Project Canopy, a $25,000 tree replanting fund following devastating June 2024 storm. Northwest Minnesota Foundation serves as fiscal sponsor and administrator of the replanting fund, ensuring transparency and alignment with local reforestation efforts.
• Federal Home Loan Bank of Des Moines (FHLB Des Moines)coreStrategic or Co-development Partner · 1 June 2025Partnership through FHLB Member Impact Fund program. First National Bank Bemidji contributed $20,000 to United Way of the Bemidji Area for Beltrami County Housing Trust Fund, with FHLB Des Moines providing matching grant funding. FHLB Des Moines serves 13 states and territories with affordable housing and community development programs.
• United Way of the Bemidji AreacoreGTM or Marketing PartnerLong-standing partnership supporting community programs including Holiday Gifts for Kids (bank serving as drop-off location), Beltrami County Housing Trust Fund, and Better Together Food Trucks community events series.
• DocuSigncoreTechnology or IntegrationDocuSign-powered eSignature solution for electronically signing eligible bank documents. Provides secure, efficient online document management with identity verification through text message or phone call verification codes.
• FiservcoreTechnology or IntegrationTechnology provider powering the First National Bank Bemidji Mobile App, enabling real-time balances, account management, transfers, bill payment, check deposits, and card controls through mobile devices.
• Baker Hill SolutionscoreTechnology or IntegrationProvider of NextGen client portal for loan applications and client portal login, enabling online loan application submissions and account access.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Bell Bank: Fargo, North Dakota-based community bank with a similar employee-ownership ethos (100% ESOP), comparable mid-sized asset base, and full suite of personal, business, and mortgage banking services serving a regional Upper Midwest market — directly comparable in ownership structure and community-bank business model.
• Stearns Bank: St. Cloud, Minnesota-based privately held community bank offering commercial, personal, and specialty lending (including government-guaranteed lending) with comparable asset size — closely comparable in operating geography within Minnesota and product mix including mortgages and small-business banking.
• Choice Financial Group: Grand Forks, North Dakota-based employee-owned community bank (ESOP) operating branches across North Dakota and Minnesota — directly comparable in ESOP ownership model, similar asset scale, and community-bank commercial/retail/mortgage product mix serving the same regional market.
• First International Bank & Trust: Watford City, North Dakota-based privately held community bank with comparable personal, business, and agricultural lending products serving rural Upper Midwest markets — comparable in business model, customer base, and geographic focus on small/rural communities.
• Starion Bank: Bismarck, North Dakota-based community bank with similar asset scale, full-service retail and commercial banking, and mortgage offerings — directly comparable as a privately held community bank serving a regional Upper Midwest market.
• BlackRidgeBANK: Fargo, North Dakota-based community bank with a similar asset size band and full-service personal and business banking offering — directly comparable as a small-to-mid sized privately held community bank serving a similar Upper Midwest market.

Broad incumbents

• U.S. Bancorp: Minneapolis, Minnesota-headquartered large national bank with significant presence across Minnesota including the Bemidji area — broader incumbent offering full-service banking, mortgages, wealth, and capital markets services that overlap with First National Bank of Bemidji's offerings but at vastly greater scale.
• BMO Harris Bank: Chicago-based subsidiary of BMO Financial Group with a significant Upper Midwest retail and commercial banking presence — broader incumbent offering comprehensive banking, lending, and wealth services that compete for the same retail and small-business customers as First National Bank of Bemidji.
• Bremer Financial: St. Paul, Minnesota-based regional bank with a substantially larger asset base and a full suite of banking, wealth, and insurance services — competes with First National Bank of Bemidji across Minnesota but serves a much broader geographic footprint with deeper product capabilities.
• Heartland Financial (HTLF): Dubuque, Iowa-based regional bank holding company operating community banks across the Midwest and West — broader incumbent that competes in community banking across similar rural and small-metro geographies with comparable personal, business, and mortgage products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FNBBemidji

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

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 National Bank of Bemidji