What Solutions Bank does

Solutions Bank is a privately held, FDIC-insured community bank operating five branch locations across northwestern Illinois (Forreston, Durand, Freeport, Poplar Grove, and Belvidere) and serving as an affiliate of High Point Financial Services Inc. The bank provides deposit accounts, consumer and business lending (commercial real estate, construction, equipment, operating lines, agricultural, personal, and home loans), credit cards through Elan Financial Services, merchant services through Clover, and investment products including CDs, IRAs, and SEPs. Its product set is anchored on a digital banking platform built around Fiserv-hosted account origination and a mobile/online banking interface covering personal and business customers in a unified experience.

Revenue is generated primarily through net interest income on the loan portfolio, supplemented by transaction-based fees (account fees, ATM, wire, overdraft, loan origination), interchange fees from credit card programs and Clover merchant processing, and earnings on interest-bearing investment products. Distribution combines a relationship-led branch sales motion with self-serve digital channels (mobile app, online banking portal, Fiserv-powered account opening). Customer segments span individual consumers, small to mid-sized businesses, agricultural operations, students, and a youth and family segment served through the Goalsetter partnership. GTM is community-led and relationship-based, supported by financial education content, community event sponsorships, and employee advocacy.

The technology stack is largely assembled from third-party integrations rather than proprietary systems, including Fiserv for account opening, Elan for credit card issuance, Clover for point-of-sale, and partnerships with Apple Pay, Google Pay, and Zelle for payments. Notable proprietary user-facing features include Card Control (rule-based debit card controls with location and merchant restrictions), Secure Alerts (multi-channel transaction and account monitoring), Credit Sense (credit score monitoring with simulator), and the Goalsetter youth financial education app. The bank is WCAG 2.1 AA accessibility compliant and holds NMLS# 787847 for residential mortgage lending. A 2025 platform upgrade consolidated personal and business banking into a unified sign-in experience.

Name

Solutions Bank

Legal name

Solutions Bank

Website

https://solutions.bank

Company type

Private

Founded year

1887

Operating status

Operating

Headcount range

11–50 employees

Short description

Solutions Bank is a privately held community bank operating five branches across northwestern Illinois, offering deposit accounts, consumer and commercial lending, credit cards, and digital banking to individuals, small businesses, and agricultural customers.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Digital Banking & Neobank Platforms (BPAMAFAD)

akta.pro secondary industries

Corporate Cards & Expense Solutions (T&E, purchasing, fleet) (FSABAIAG), Bank Connectivity & Channels (Host-to-host, SWIFT, APIs, EB portals) (FSABAIAF), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

Keywords

• Community banking services
• Commercial lending
• Digital banking platform
• Personal banking products
• Merchant services

Headquarters

HQ city

Forreston

HQ country

United States

HQ region

North America

Offices5 records

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. Net Interest Income: Interest income earned on loan portfolio including commercial real estate loans, commercial construction loans, equipment loans, operating lines of credit, personal loans, home loans, and agricultural loans. Offset by interest paid on deposits.
2. Non-Interest Fees: Various banking fees including account maintenance fees, ATM fees, wire transfer fees, overdraft fees, and loan origination fees. Also includes merchant services revenue from credit card processing.
3. Credit Card Revenue: Interchange fees from credit card transactions processed through Elan Financial Services. Card offerings include personal and business credit cards with various reward structures.
4. Investment Products: Revenue from certificates of deposit, IRA accounts, and SEP plans. Earnings from interest-bearing investment products offered to customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Solutions Bank is a community bank operating five branches across northwestern Illinois, offering personal and business banking products including checking, savings, personal loans, home loans, business loans, equipment leasing, credit cards, and merchant services. The bank delivers services through a digital banking platform with online and mobile channels, supplemented by integrated tools for credit monitoring, card management, peer-to-peer payments, and youth financial education through the Goalsetter partnership. Investment products include CDs, IRAs, and SEP plans.

Product overview

Solutions Bank offers a unified banking platform combining personal and business banking services with digital-first delivery. The core digital banking ecosystem includes Online Banking and Mobile Banking as the primary access channels, with integrated sub-products for credit monitoring (Credit Sense), youth financial education (Goalsetter), account security (Secure Alerts, Card Control), payments (Bill Pay, Zelle, Digital Wallets), and financial management (eStatements, Transfer Now, Quicken/QuickBooks export). Business banking encompasses commercial lending (Business Loans, Equipment Leasing, Business Credit Cards) and point-of-sale services (Clover). Investment products include Certificates of Deposit, IRAs, and SEPs. The bank also maintains traditional personal banking products including checking, savings, personal loans, home loans, and credit cards.

Differentiator

Problem solved

Functional benefit

Brands

• Goalsetter: A youth debit card and family financial education app partnership offering savings goals, allowance management, expense tracking, parental controls, and financial quizzes for kids and teens. Available to Solutions Bank checking account holders.

Products and services

• Online Banking Web-based banking platform providing 24-hour access to checking, loans, and CDs. Enables account balance viewing, bill payment, transfers, and transaction history with export capabilities.
• Mobile Banking Smartphone application offering all online banking features plus mobile-specific capabilities including Instant Balance, Touch ID/Facial Recognition, mobile check deposits, and app notifications.
• Checking Accounts Personal checking accounts offered through branch and digital channels to individual consumers for everyday banking transactions.
• Savings Accounts Personal savings accounts for individual consumers to build deposits and earn interest.
• Personal Loans Personal lending products for individual consumers for credit needs beyond everyday banking.
• Home Loans Mortgage lending for residential home purchases and refinancing through local underwriting.
• Personal Credit Cards Personal Visa and Mastercard credit cards issued through Elan Financial Services, available in low rate, cash back, and flexible rewards options with zero fraud liability.
• Business Loans Commercial lending suite including Commercial Real Estate Loans, Commercial Construction Loans, Equipment Loans, and Operating Lines of Credit for business growth and operations.
• Equipment Leasing Equipment leasing solutions for businesses provided through local bank relationship-based terms rather than transaction-based leasing with lower fees and penalties.
• Business Credit Cards Business credit card offerings including low rate, cash back, and flexible rewards options with features such as free online expense reporting, employee cards at no extra fee, and mobile payments.
• Clover Point of Sale Credit card processing and point-of-sale solution for business customers. Includes complimentary merchant statement review service.
• Certificates of Deposit (CDs) FDIC-insured time deposits with guaranteed fixed rates. Available terms from 3 months to 3 years with automatic renewal options.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings vehicles available in Traditional and Roth variants. Supports rollovers, transfers, and new plan funding starting at $100.
• Simplified Employee Pension Plans (SEPs) Employer-sponsored retirement plans allowing business owners to provide retirement benefits to employees with tax-deductible contributions.
• Loan Application Portal Online loan application system supporting individual and co-applicant applications for personal loans, home loans, and business/ag loans with comprehensive financial information collection.
• Goalsetter Youth Banking Youth debit card and financial education app for families, combining savings goals, allowance management, expense tracking, parental controls, and age-appropriate financial quizzes. Available to Solutions Bank checking account holders.

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• GoalsettercoreTechnology or IntegrationGoalsetter is a family financial education app and youth debit card program. Solutions Bank offers Goalsetter complimentary to checking account holders. The partnership brings savings goals, age-appropriate financial quizzes, parent-controlled debit cards, and spending management tools to families. The app features Moneylingo financial education content and is designed to teach kids ages K-12+ about money management.
• ClovercoreTechnology or IntegrationClover provides credit card processing and point of sale solutions for business customers. Solutions Bank offers complimentary reviews of merchant statements to business customers considering Clover services. The partnership helps businesses streamline payment processing operations.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services provides credit card program management for Solutions Bank. Elan issues personal and business credit cards on behalf of the bank, including Visa and Mastercard products. Zero fraud liability protection is provided through Elan. The bank offers cards with options including low rate, cash back, and flexible rewards.
• FiservcoreTechnology or IntegrationFiserv provides the online account origination platform used by Solutions Bank for new account applications. The bank's online account opening is hosted through solutions.originate.fiservapps.com.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Resource Bank: Resource Bank is a community bank with branches in northern Illinois communities, offering personal checking, savings, lending, and business banking. Same multi-branch community model with comparable customer segments and geographic proximity.
• Stillman Bank: Stillman Bank is a community bank headquartered in Oregon, Illinois, with branches across northwestern Illinois. Directly comparable as a similarly sized community bank operating in overlapping Illinois geographies, serving ag, business, and consumer customers with a parallel set of deposit, lending, and digital products.
• Blackhawk Bank: Blackhawk Bank & Trust is a community bank serving northern Illinois and southern Wisconsin, including Rockford and Belvidere-adjacent markets. Comparable as a multi-branch community bank targeting consumer, small business, and ag customers with personal lending, business banking, and digital channels.
• Hickory Point Bank & Trust: Hickory Point Bank & Trust is a community bank headquartered in Decatur, Illinois, serving central Illinois consumers and businesses. Comparable as an Illinois-based community bank with deposit products, consumer and business lending, and trust services.

Broad incumbents

• Byline Bank: Byline Bancorp operates Byline Bank, a community-focused commercial bank in the Chicago metro and select Illinois communities. Comparable community banking DNA with broader Chicago presence, full digital platform, business lending, and merchant services — a larger-scale analog.
• Heartland Financial USA (HTLF): Heartland Financial USA is a multi-state community bank holding company with banks across the Midwest and beyond. Comparable as a holding-company model owning community banks (the same structure as High Point Financial Services Inc, Solutions Bank's parent), but at significantly greater scale.
• First Busey Corporation: First Busey is a Champaign, Illinois-based community bank holding company with branches across Illinois, Indiana, Florida, and other states. Comparable Illinois community banking focus with consumer, business, ag, and wealth services, though operating on a larger scale.

Emerging players

• Goalsetter: Goalsetter is a youth financial literacy and debit card platform partnered with Solutions Bank and other community banks. Adjacent/partner comparability lies in the youth banking category Solutions Bank has integrated into its offering, illustrating the model.

Regional players

• Midland States Bank: Midland States Bank is a community-focused regional bank headquartered in Dixon, Illinois with branches across Illinois and surrounding states. Comparable as a Midwest community bank offering deposit, ag, business, and commercial banking, though significantly larger.
• First Mid-Illinois Bancshares: First Mid-Illinois Bancshares is the holding company for First Mid Bank & Trust, a community bank with branches throughout central and northwestern Illinois. Comparable consumer, business, ag, and wealth banking focus in Illinois geographies overlapping with Solutions Bank's footprint, though with broader scale and a public listing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/solutions_bank
• Facebookfacebook.com/mysolutionsbank
• LinkedInlinkedin.com/company/mysolutionsbank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Solutions Bank