Falcon National Bank

What Falcon National Bank does

Falcon National Bank is a privately held, FDIC-insured community bank headquartered in St. Cloud, Minnesota, operating six branch locations across central and north metro Minnesota (St. Cloud, Maple Grove, Ham Lake, Isanti, Foley, and Richmond). The bank serves small to mid-sized businesses and individual consumers with a comprehensive suite of products including commercial loans, SBA loans (as a Preferred SBA Lender), equipment financing through its Falcon Equipment Finance division (formerly Falcon Leasing), treasury management services, merchant processing, residential mortgages, consumer loans, and personal/business deposit accounts including Kasasa-branded reward products. Technology consists of a traditional core banking platform extended through online and mobile banking, with point integrations to CardConnect (merchant processing), IntraFi Network (ICS/CDARS for expanded FDIC coverage up to $200M/$50M), and MoneyPass (surcharge-free ATM network of 30,000+ locations).

The business model is a relationship-based community bank GTM: dedicated market presidents at each branch hold local decision-making authority, supported by specialized SBA, equipment finance, and treasury management divisions. Revenue is generated primarily through net interest income on loans (commercial, SBA, equipment, mortgage, consumer), supplemented by deposit account fees, treasury management service charges, and merchant processing transaction fees. The bank ranks No. 6 on the ICBA Top Commercial Lenders list for $500M–$999M asset banks (commercial lender score 94.1/100) and was a Top 10 SBA Lender in 2019 (#8 in dollar volume). Its differentiation centers on local decision-making speed (e.g., "Falcon Fast" quick-approval process), SBA preferred-lender regulatory advantage, expanded FDIC coverage through IntraFi, and deep community involvement via the Falcon Gives Back program.

Operationally, Falcon is in an active build-out phase: between 2020 and 2026 it added a CTO, CSO, SVP of Business Banking, VP of Treasury Management, VP of Mortgage Lending, and built a dedicated SBA division. Equipment financing has been elevated from a regional leasing operation to a nationwide dealer/manufacturer platform under the Falcon Equipment Finance brand. The bank is NMLS-registered (#402625), CRA-compliant, WCAG 2.0 AA conformant for accessibility, and subject to standard FDIC and USA PATRIOT Act obligations. Ownership remains local/private with no disclosed institutional investors.

Name

Falcon National Bank

Legal name

Falcon National Bank

Website

https://falconnational.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Falcon National Bank is a privately held, FDIC-insured community bank serving small to mid-sized businesses and consumers across central and north metro Minnesota through six branches, offering commercial loans, SBA preferred-lender financing, equipment finance, treasury management, mortgages, and deposit products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

Keywords

• Community banking
• Commercial lending
• SBA loans
• Equipment financing
• Treasury management

Headquarters

HQ city

Foley

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue from interest earned on commercial loans, SBA loans, consumer loans, mortgages, and equipment financing. Variable rate products with competitive pricing.
2. Deposit Account Fees: Monthly service fees, transaction fees, and analysis fees on business and personal checking/savings accounts. Overdraft and ATM fees also contribute.
3. Treasury Management Services: Cash management, ACH processing, positive pay, remote deposit capture, and wire transfer services for business customers
4. Merchant Processing: Credit card payment processing through CardConnect partnership, generating transaction fees on merchant payments

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Falcon National Bank is a privately held community bank that delivers deposit accounts, commercial and consumer loans, SBA-backed financing, equipment financing through its Falcon Equipment Finance division, residential mortgages, treasury management, and merchant payment processing to small and mid-sized businesses and individual consumers across Minnesota (with nationwide equipment finance and SBA lending). It also offers expanded FDIC coverage through IntraFi Network's ICS and CDARS programs, with services delivered through six branch locations and online and mobile banking channels.

Product overview

Falcon National Bank is a community bank offering a comprehensive suite of consumer and business banking products through a platform-plus-modules architecture. For personal banking, the core offerings include Kasasa-branded reward checking and savings accounts (Kasasa Cash, Kasasa Cash Back, Kasasa Saver), standard checking and savings, CDs, consumer loans, mortgages, and credit cards, supplemented by the Gold Club senior program. For business banking, the core platform encompasses commercial loans, SBA loans, and Falcon Equipment Finance (a division providing equipment financing, formerly Falcon Leasing), supported by Treasury Management services including Cash Management/ACH, Remote Deposit Capture, Positive Pay, Online Wires, and Merchant Processing via CardConnect. Both segments benefit from Expanded FDIC Deposit Insurance Protection through IntraFi's ICS and CDARS networks. All segments are accessible through the bank's Online & Mobile Banking platform, supported by financial planning calculators.

Differentiator

Problem solved

Functional benefit

Brands

• Falcon Equipment Finance: Business equipment financing division of Falcon National Bank, formerly known as Falcon Leasing. Provides equipment financing solutions including application-only financing up to $350,000, same-day approvals, competitive rates, and flexible terms.

Products and services

• Business Checking & Savings
• Personal Checking & Savings
• Certificates of Deposit (CDs)
• Commercial Loans
• SBA Loans
• Falcon Equipment Finance
• Treasury Management
• Merchant Processing
• Expanded FDIC Deposit Insurance Protection (ICS & CDARS)
• Mortgages & Home Lending
• Consumer Loans
• Credit Cards
• Online & Mobile Banking

Quantifiable outcome

• 18% commercial loan portfolio growth in 2019 over 2018
• +4 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Falcon Equipment FinancecoreStrategic or Co-development Partner · 1 November 2021Falcon Equipment Finance is a division of Falcon National Bank providing nationwide equipment financing solutions. Previously known as Falcon Leasing, the rebranding reflects expanded financing capabilities.
• IntraFi NetworkcoreTechnology or IntegrationIntraFi Network Deposits partnership enables expanded FDIC deposit insurance protection through ICS (Insured Cash Sweep) and CDARS (Certificate of Deposit Account Registry Service) products, providing up to $200 million in ICS coverage and $50 million in CDARS coverage per customer.
• CardConnectcoreChannel Partner/ Reseller/ DistributorCardConnect partnership provides merchant processing services including credit card payment processing, PCI compliance, tokenization, and next-day funding for business customers.
• MoneyPasssupportingTechnology or IntegrationMoneyPass ATM network partnership provides surcharge-free ATM access for customers at over 30,000 ATMs nationwide.
• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerPreferred SBA Lender partnership enables expedited processing of SBA 7(a) loans. Falcon National Bank has achieved Top 10 SBA Lender status.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Alerus Financial: Minnesota and North Dakota-headquartered bank with commercial, treasury management, and wealth offerings aimed at SMB and middle-market clients - a close regional peer in service mix and scale.
• 1st Source Bank: Indiana-headquartered super-community bank with strong commercial, equipment finance, and treasury management offerings; a relevant out-of-region peer for benchmarking Falcon's commercial and equipment finance execution.
• Bell Bank: Family-owned community bank headquartered in North Dakota with strong Minnesota presence and meaningful SBA and commercial lending; competes with Falcon for SMB and commercial customers across the upper Midwest.
• Old National Bank: Midwest super-community bank with strong commercial and SBA lending franchise, similar deposit and SMB service mix, and broader geographic footprint - the largest-scale analogue to Falcon's relationship banking model.
• Stearns Bank: Minnesota-based bank with a national equipment financing/leasing franchise that competes head-to-head with Falcon Equipment Finance, while also running community banking and SBA lending.
• Live Oak Banking Company: Public, SBA-specialized bank that is one of the largest SBA 7(a) lenders in the U.S., competing directly with Falcon's Preferred SBA Lender franchise in the nationwide SBA market.
• Bremer Bank: Minnesota-headquartered regional community bank serving commercial, SMB, and consumer customers with a relationship-led model - the closest large analogue to Falcon's Minnesota-focused commercial banking franchise and structure.

Regional players

• Cornerstone Bank: Privately held Minnesota community bank with SMB and consumer banking focus; competes with Falcon in overlapping central Minnesota markets for deposits and small-business relationships.

Broad incumbents

• Heartland Financial USA (HTLF): Multi-chapter community bank holding company operating across multiple Midwest and Western states with strong commercial and SBA capabilities; competes with Falcon in shared geographies while operating many more charters.
• Customers Bancorp (Customers Bank): Super-community bank with material SBA lending volume and a tech-forward digital deposit franchise; a credible scaled competitor in SBA and embedded small-business banking that pressures Falcon's differentiation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FalconNationalBank
• LinkedInlinkedin.com/company/falcon-national-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 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 Falcon National Bank