Flagship Bank Minnesota

What Flagship Bank Minnesota does

Flagship Bank Minnesota, operating under the legal name Security Bank & Trust Co. (DBA: SBTC), is an independent FDIC-insured community bank headquartered in Wayzata, Minnesota, serving individuals, families, businesses, farmers, municipalities, and nonprofit organizations across the state. The bank traces its operating history to 1935 and operates a portfolio of personal banking (checking, savings, personal loans, mortgages), business banking (accounts, lending, treasury management), specialized industry lending (agricultural, construction, investment real estate, business acquisitions, equipment), municipal and nonprofit banking, and trust & wealth management services delivered through a dedicated trust team.

Revenue is generated through traditional community-bank mechanics: net interest income from personal, mortgage, commercial, agricultural, construction, and commercial real estate lending; deposit-related fees and net interest margin on balances; fees on treasury management and cash-management services for businesses; and trust and wealth-management fees structured around assets under management. Pricing is quote-based and relationship-driven rather than publicly rate-carded; specific loan and deposit rates are disclosed on inquiry or at branches, with a notable rates page available for business banking. Trust and wealth management fees follow an AUM-based or hourly consultation model.

The operating model combines physical Minnesota branch locations with a digital banking platform built on tier-1 banking technology providers — Apiture for online banking and business enrollment, FundsXpress for consumer enrollment and demo, FIS for trust account identity, and Elan for credit-card servicing — together with mobile banking and remote online check deposit functionality. Customer acquisition is conducted through branch-based relationship banking, direct outreach to enterprises and municipalities, and an active multi-platform social and content presence (LinkedIn, Facebook, Instagram, YouTube, TikTok) under the BankwithSBTC brand. The bank completed an inorganic consolidation step in 2016 with the acquisition of Landmark Community Bank, N.A., and currently employs 51-100 staff under CEO Andy Schornack.

Name

Flagship Bank Minnesota

Legal name

Security Bank & Trust Co.

Website

https://flagshipbanks.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

51–100 employees

Short description

Flagship Bank Minnesota (legal name: Security Bank & Trust Co.) is an independent FDIC-insured Minnesota community bank providing personal banking, business banking, agricultural, construction, municipal, nonprofit, and trust & wealth management services to individuals, families, businesses, farmers, and government entities across Minnesota.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE)

Keywords

• Community banking
• Commercial lending
• Agricultural lending
• Wealth management
• Treasury management

Headquarters

HQ city

Wayzata

HQ country

United States

HQ region

North America

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: Traditional bank lending including personal loans, mortgages, business loans, agricultural loans, commercial real estate loans, and construction financing. Revenue generated through interest charged on loans.
2. Deposit Services: Checking and savings account services generating revenue through deposit balances and account fees.
3. Trust & Wealth Management: Trust services, wealth management, and financial planning for individuals and families including legacy planning.
4. Treasury Management Services: Cash management, payment processing, and treasury services for business clients.
5. Municipal Banking: Banking services specifically designed for municipal government entities.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Flagship Bank Minnesota, operating through Security Bank & Trust Co. (SBTC), is a Minnesota community bank providing personal banking (checking, savings, personal loans, home mortgages) and business banking (business accounts, business lending, treasury management), along with specialized lending for agricultural, construction, and investment real estate sectors. The bank also offers municipal, nonprofit, and professional services banking, plus trust and wealth management through a dedicated trust team, all delivered via physical branches combined with online and mobile banking.

Product overview

Security Bank & Trust Co. offers a unified banking platform providing personal banking, business banking, and trust and wealth management services. The personal banking division includes personal accounts and personal loans/mortgages. The business banking division encompasses business accounts, business lending services, and treasury management with online/mobile banking capabilities. The bank also provides specialized industry lending for agriculture, construction, real estate, municipalities, nonprofits, and professional services. Trust and wealth management services round out the core offerings, providing estate planning and trust administration through a dedicated team.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Personal banking services for individuals and families, including checking and savings accounts, personal loans, and home mortgages, delivered through Minnesota branch banking and digital channels.
• Business Banking Comprehensive banking services for Minnesota businesses including business checking and savings accounts, business lending, and treasury management solutions to support growth and operations from small home-based firms to larger corporations.
• Trust & Wealth Management Trust account administration, estate planning, legacy planning, and investment management for high-net-worth individuals and families, delivered by a dedicated trust team.
• Agricultural Lending Specialized lending products for agricultural operations and farms including operating lines of credit, equipment financing, and land acquisition tailored to seasonal cash flow needs.
• Construction Lending Banking services and loans for construction businesses, projects, and developers including project financing and contractor equipment acquisition financing.
• Investment Real Estate Banking Banking solutions for real estate investors and investment properties, including investment property loans, commercial real estate financing, and property development capital.
• Municipal Banking Banking services specifically designed for Minnesota municipalities and local government entities, including municipal deposits, government banking services, and public fund management.
• Nonprofit Banking Banking services tailored for nonprofit organizations and charitable entities, providing organizational accounts, fiduciary services, and community fund handling.
• Professional Services Banking Banking solutions for professional service firms, including law firms, accounting firms, and medical practices, covering practice financing, professional office needs, and working capital for service businesses.
• Business Acquisitions Financing Financing solutions for businesses acquiring other companies, including purchase loans, acquisition growth capital, and deal structuring support.
• Business Equipment Financing Equipment loans and machinery financing solutions to enable business equipment purchases without large upfront capital outlay.
• Treasury Management Cash management and treasury services for business clients, including online bill pay, payment processing, account management, and financial controls such as online check deposits.
• Online and Mobile Banking Digital banking platform allowing customers to access accounts, make transactions, deposit checks via mobile devices, and manage finances online and through smartphone applications.

Quantifiable outcome

• Online check deposits have saved customers countless work hours week-to-week
• +1 more outcomes

Named customers16 records

Segments11 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Bremer Financial Services: Minnesota-headquartered regional bank with full commercial, retail, wealth, and ag lending capabilities across MN, ND, and WI. Larger and broader in scope than Security Bank, but the most directly comparable community/regional banking competitor in the same geography and customer base.
• Heartland Financial USA: Multi-state community bank holding company (HTF) operating independent community bank charters across the Midwest and West, including Minnesota. Larger and more diversified than Security Bank, but directly comparable in community banking strategy, SMB/ag lending, and customer segments.
• Glacier Bancorp: Multi-state community bank holding company operating independent community bank charters across the Western and Midwestern U.S. Larger and more diversified, but a relevant comparable for the community-bank-as-acquirer consolidation model.

Direct peers

• BankCherokee: Independent Minnesota community bank headquartered in Minneapolis offering personal, business, and specialty lending to local SMBs and families. Closely comparable in size, product mix (deposits, loans, treasury), and Minnesota-only footprint.
• Think Bank: Minnesota-based community bank (formerly Think Mutual Bank) serving individuals and businesses across the Twin Cities and greater MN with deposits, lending, and treasury services. Similar SMB- and consumer-focused community banking model.
• Bridgewater Bank: Bloomington, MN-based community bank providing personal, business, mortgage, and wealth management services to Minnesota customers. Comparable in scale, product breadth, and Minnesota-focused relationship-banking approach.
• Lake Central Bank: Independent Minnesota community bank headquartered in Mankato serving south-central MN with personal, business, and ag lending. Direct peer in the Minnesota community bank segment with similar vertical focus on ag and SMB banking.
• First Bank & Trust (MN): Independent Minnesota community bank offering personal, business, mortgage, and ag lending to local customers. Comparable in scale, geography, and full-service community banking value proposition.

Regional players

• Nicolet National Bank: Wisconsin-headquartered community bank with comparable personal/business banking, ag lending, and wealth management services. Operates in an adjacent Upper Midwest geography with a similar community-bank value proposition and SMB focus.
• Choice Financial Group: North Dakota-headquartered community bank holding company with branches across ND, MN, and SD, focused on ag, business, and consumer banking. Comparable ag-lending vertical and Upper Midwest community bank positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCH9FRnnBDF3Ytbkzo7HKo8Q
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/bankwithsbtc
• Instagraminstagram.com/bankwithsbtc
• TikToktiktok.com/@bankwithsbtc

Compliance2 records

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&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flagship Bank Minnesota