KodaBank
KodaBank is an FDIC-insured, independently owned community bank headquartered in Drayton, North Dakota, operating 12 branches across Northeast North Dakota and Northwest Minnesota. It serves individuals, small businesses, and farmers with personal/commercial/agricultural lending, deposits, digital banking, and cash management services.
- Company typePrivate
- Founded1800
- HeadquartersDrayton, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What KodaBank does
KodaBank is an FDIC-insured, independently owned community bank headquartered at 104 S Main Street, Drayton, North Dakota, with operational roots extending to the late 1800s. The bank operates 12 branch locations spanning Northeast North Dakota (Drayton, Cavalier, Fargo, Grand Forks, Hamilton, Minto, Neche, Pembina, Walhalla) and Northwest Minnesota (Bemidji, Kennedy, Stephen), supported by a digital banking platform that includes Online Banking and the KodaMobile iOS/Android application for 24/7 account access, mobile check deposit, fund transfers, and bill pay. The bank's customer base is segmented across three core verticals: individuals and families (personal checking, savings, CDs/IRAs, personal loans, mortgages, debit/credit/gift cards), small businesses and commercial customers (business checking, business CDs, commercial loans, cash management, remote deposit capture, Positive Pay, card services), and farmers and ranchers (agricultural real estate loans, farm equipment loans, livestock loans, and seasonal lines of credit).
Underlying technology is conventional community-bank digital infrastructure: a core digital banking platform with online and mobile access, integrated with cash management tools for commercial accounts, remote deposit capture via scanner hardware, and Positive Pay for check-fraud prevention. Integrations include the MoneyPass surcharge-free ATM network and standard distribution through Apple App Store and Google Play storefronts. No proprietary AI, open APIs, SDKs, MCP servers, or disclosed technology partnerships are evident.
The revenue model is classic community-bank mechanics: net interest income on personal loans, mortgages, agricultural loans, and commercial loans forms the primary revenue stream (described as subscription/recurring), supplemented by interest and fees on deposit services (checking, savings, CDs, IRAs) and transaction-fee income from business services (cash management, bill pay, card services). Pricing is not publicly disclosed; customers are directed to contact local branches for rates and fees. The go-to-market motion is sales-led and relationship-driven, emphasizing in-community decision-making, multi-generational family relationships (especially with farm families), and government-guaranteed lending partnerships with the U.S. Small Business Administration, the Bank of North Dakota, and the Federal Farm Service Agency. Marketing relies on social media (Facebook, LinkedIn, Instagram), the corporate website with financial calculators and education content, and community-based brand presence. KodaBank operates in a horizontal segmentation approach across retail, small business, and agricultural customers, with no disclosed enterprise or institutional segment.
KodaBank firmographics
Firmographics- Name
- KodaBank
- Legal name
- KodaBank
- Website
- https://kodabank.com
- Company type
- Private
- Founded year
- 1800
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- KodaBank is an FDIC-insured, independently owned community bank headquartered in Drayton, North Dakota, operating 12 branches across Northeast North Dakota and Northwest Minnesota. It serves individuals, small businesses, and farmers with personal/commercial/agricultural lending, deposits, digital banking, and cash management services.
- Ownership category
- akta.pro rank
KodaBank industry classification
Industry- Product category
- Community Banking
- NAICS
- Depository Credit Intermediation (5221), Commercial Banking (52211)
- SIC
- State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Agricultural & Rural Development Banks (FSABAKAE)
- akta.pro secondary industries
- Credit Cards & Revolving Credit (FSABAAAC), SBA/Government-Backed & Development Finance Loans (FSAKAGAI)
Keywords
Where KodaBank is headquartered
LocationHeadquarters
- HQ city
- Drayton
- HQ country
- United States
- HQ region
- North America
Offices12 records
Markets served
KodaBank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income: Traditional bank revenue from interest earned on loans including personal loans, mortgages, agricultural loans, and commercial loans
- Deposit Services: Fees and interest from checking, savings, CDs, and IRA accounts
- Business Services: Cash management, bill pay, and other business banking service fees
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
KodaBank product offering
Product offeringCore offering
KodaBank is an independently owned community bank offering personal and business banking products and services including checking, savings, CDs, IRAs, personal loans, mortgages, debit/credit/gift cards, agricultural lending, and commercial loans across 12 branches in Northeast North Dakota and Northwest Minnesota. The bank supplements its branch-based services with digital banking (online banking and KodaMobile mobile app), cash management tools, remote deposit capture, positive pay fraud protection, and safe deposit boxes.
Product overview
KodaBank is a traditional community bank offering a comprehensive suite of personal and business banking products and services. The bank's core offerings include personal checking, savings, CDs, IRAs, credit/debit/gift cards, personal loans, and mortgages. Business banking products encompass commercial and agricultural loans, business checking, CDs, and card services. Digital banking services include Online/Digital Banking and KodaMobile app for account access, fund transfers, and mobile deposits. Fee-based add-on services include Bill Pay Plus, Safe Deposit Boxes, Cash Management (for commercial customers), Remote Deposit Capture, and Positive Pay fraud protection. The bank also provides Financial Calculators as a resource tool. KodaBank operates branches primarily in Northeast North Dakota and Northwest Minnesota communities.
Differentiator
Problem solved
Functional benefit
Brands
- KodaMobile: Mobile banking application for personal and business customers providing account access, fund transfers, bill payments, check deposits, and ATM location services.
Products and services
- Personal Checking Personal checking accounts with options for $0 monthly fee or interest-earning, designed for individual consumers seeking everyday banking.
- Personal Savings Savings accounts designed to help customers grow money safely with steady growth for individuals and families.
- CDs & IRAs Certificates of Deposit and Individual Retirement Accounts offering interest rates to help customers grow savings and prepare for retirement.
- Card Services Debit, credit, and gift card options providing card convenience for personal banking customers.
- Personal Loans Personal loans with a common-sense lending approach to help finance customer needs.
- Mortgage Home financing solutions including first-time homebuyer and dream home loans for individuals and families.
- Business Checking Business checking accounts designed for commercial customers to manage business finances.
- Business CDs Certificates of Deposit for business customers seeking to grow business savings.
- Business Card Services Credit and debit card services tailored for business banking customers.
- Agriculture Loans Agricultural financing including lines of credit, farm real estate loans, and farm equipment & livestock loans tailored for farmers and ranchers with consideration for seasonal cash flow swings.
- Commercial Loans Comprehensive business lending including commercial lines of credit, equipment financing, commercial real estate loans, construction loans, and term loans for businesses of all sizes.
- Digital Banking Secure online banking platform providing 24/7 account access, real-time account information, fund transfers, bill payments, loan payments, electronic statements, and transaction notifications for personal and business customers.
- KodaMobile Mobile banking application available for iOS and Android providing account access, fund transfers, mobile check deposits, bill payments, transaction reviews, and ATM/branch location finder.
Companies that use KodaBank
Customer profileSegments3 records
Ideal customer profiles3 records
KodaBank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
KodaBank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered supporting.
- U.S. Small Business Administration (SBA)supportingKodaBank leverages SBA loan programs to provide additional financing options for small business customers who may not qualify for traditional commercial loans.
- Bank of North DakotasupportingKodaBank works with the Bank of North Dakota to access state-backed financing programs for agricultural and commercial customers.
- Federal Farm Service AgencysupportingKodaBank helps agricultural customers access Farm Service Agency loan programs for farmland and equipment purchases.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
KodaBank competitors and assessment
Company assessmentDirect peers
- Bell Bank: Employee-owned community bank headquartered in Fargo, ND with deep ag-lending expertise and a multi-branch North Dakota/Minnesota footprint. Closest comparable to KodaBank in mission, geography, customer segments, and ag focus.
- Gate City Bank: Customer-owned community bank in Fargo, ND with extensive branch network across North Dakota and into Minnesota. Comparable mutual-style community bank model serving similar consumer, small-business, and ag segments in overlapping geographies.
- Alerus Financial: Grand Forks, ND-based financial services company offering commercial banking, mortgage, and wealth management. Operates branches across North Dakota and Minnesota with comparable ag and small-business focus, and the same Northern Plains regional concentration.
- Starion Bank: Community bank headquartered in Bismarck, ND with branches across North Dakota. Similar locally owned, relationship-driven model with consumer, commercial, and ag lending, competing for the same rural Plains customer base.
- Choice Financial Group: Independent community bank holding company based in Grafton, ND (adjacent to KodaBank's Drayton/Pembina/ND territory) with ag lending, consumer, and business banking. Geographic and product-line overlap makes it one of the closest direct competitors.
- American Federal Bank: Independent community bank with locations in North Dakota and Minnesota, offering personal, business, and ag banking products. Comparable size, scope, and locally owned community-bank identity in overlapping Northern Plains markets.
- Bank Forward: Community bank headquartered in Hillsboro, ND with branches across North Dakota and Minnesota, focused on ag, commercial, and consumer banking. Directly comparable rural footprint and ag-lending emphasis.
- First Western Bank & Trust: Community bank in Minot, ND serving personal, business, and ag customers across North Dakota. Comparable independent community-bank profile and rural Northern Plains service area.
Broad incumbents
- Bremer Bank: Large regional bank serving Minnesota, North Dakota, and Wisconsin with full commercial, ag, treasury, and wealth capabilities. Larger and broader than KodaBank but operates in the same Upper Midwest geography with similar ag and small-business segments.
Regional players
- Heartland Community Bank: Community bank with operations in the broader Upper Midwest offering ag, commercial, and consumer banking products. Comparable independent community-bank business model with similar Northern Plains-adjacent geography.
Market position
Strengths1 record
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
KodaBank social profiles
Digital presenceKodaBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
KodaBank leadership team
Management profileNumber of profiles
KodaBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
KodaBank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about KodaBank
What does KodaBank do?
KodaBank is an independently owned community bank offering personal and business banking products and services including checking, savings, CDs, IRAs, personal loans, mortgages, debit/credit/gift cards, agricultural lending, and commercial loans across 12 branches in Northeast North Dakota and Northwest Minnesota. The bank supplements its branch-based services with digital banking (online banking and KodaMobile mobile app), cash management tools, remote deposit capture, positive pay fraud protection, and safe deposit boxes.
Is KodaBank a public or private company?
KodaBank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was KodaBank founded?
KodaBank was founded in 1800. It employs 11 to 50 people.
Where is KodaBank based?
KodaBank is headquartered in Drayton, United States, in the North America region.
How does KodaBank make money?
Three revenue lines are on record. Interest Income is the primary driver. The others are deposit Services and business Services.
Who are KodaBank's main competitors?
Direct peers on record are Bell Bank, Gate City Bank, Alerus Financial, Starion Bank, Choice Financial Group, American Federal Bank, Bank Forward and First Western Bank & Trust. Bremer Bank is listed as a broad incumbent. Heartland Community Bank is listed as a regional player.
Does KodaBank have an API?
No public API is recorded for KodaBank.
What industry is KodaBank in?
KodaBank's product category is Community Banking. Its primary akta.pro industry code is FSABAKAE, Agricultural & Rural Development Banks, with a secondary code of FSABAAAC, Credit Cards & Revolving Credit. Its NAICS code is 5221 and its SIC code is 6022.