Northwestern Bank

What Northwestern Bank does

Northwestern Bank is a privately held community bank headquartered in Chippewa Falls, Wisconsin, founded in 1904 as Northwestern State Bank and operating under its current name since 1970. The bank serves individual consumers and small-to-medium-sized businesses across Western Wisconsin through seven branch locations in Chippewa Falls (Downtown and Drive-Up), Boyd, Cornell, Lafayette, River Prairie (Altoona), and Thorp, complemented by the NB Online Banking platform and the NB Mobile Banking App for iOS and Android. Its product portfolio spans personal banking (checking, savings, money market, CDs, IRAs, HSAs, personal loans, residential mortgages, credit cards), commercial banking (business checking and savings, commercial real estate, construction, working capital, and letters of credit), and treasury management (Remote Deposit Capture, wire transfer, ACH origination, Positive Pay fraud protection, sweep accounts, and merchant services via Elavon). Technology integrations include Zelle for person-to-person payments, QuickBooks-compatible downloads for business accounts, PULSE ATM network access, and Deluxe check ordering.

The bank's revenue model combines net interest income from lending activities with transaction-based fees (deposit account fees, treasury management fees, credit card interchange via Elan Financial Services) and affiliate referral fees from investment services routed through Fries Financial Group / Raymond James. Distribution is relationship-based, anchored by a team of VPs of Business Banking, residential lending officers, and a dedicated treasury management group, supported by content marketing channels including the 'Banker With A Beer' podcast, NB Blog, and digital tutorials. Customer segments are split across Personal/Retail and Business/Commercial banking on a horizontal basis, with no disclosed concentration in a single industry vertical or enterprise client.

Strategically, Northwestern Bank differentiates itself through local decision-making authority, 120+ years of regional brand equity, and significant community engagement (1,400+ annual volunteer hours, donations to 450+ organizations). A leadership transition effective December 31, 2025 — Jerry Jacobson's retirement after 47 years, succeeded by Tracey Smiskey as CEO and Jamie Leibrandt as President — represents the most consequential near-term strategic variable. The bank holds no patents, has no disclosed AI/ML capabilities, and operates as an FDIC-insured Wisconsin-chartered institution with no parent company or institutional investors.

Name

Northwestern Bank

Legal name

Northwestern Bank

Website

https://northwesternbank.com

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

101–250 employees

Short description

Northwestern Bank is a privately held community bank founded in 1904, headquartered in Chippewa Falls, Wisconsin, serving personal and small-to-medium-sized business customers through seven branches across Western Wisconsin, plus online and mobile banking channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Chippewa Falls

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: The bank earns interest income from lending activities including commercial real estate loans, construction loans, business expansion/refinance loans, working capital loans, letters of credit, lines of credit, residential mortgages, personal loans, and credit cards.
2. Deposit Account Fees: Fees from deposit accounts including monthly maintenance fees, overdraft fees, insufficient funds fees, wire transfer fees, and other account service charges.
3. Credit Card Revenue: Revenue generated through credit card partnerships with Elan Financial Services, including interchange fees and card services.
4. Treasury Management Services: Fees for business treasury services including remote deposit capture, wire transfers, ACH origination, and Positive Pay fraud protection.
5. Investment Services Referrals: Referral fees received from Fries Financial Group/Raymond James for investment services referred to clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Northwestern Bank is a privately held community bank providing personal and business banking services through seven branch locations in Western Wisconsin. Core offerings include checking and savings accounts, certificates of deposit, IRAs and HSAs, personal and business loans, residential mortgages, credit cards, treasury management (remote deposit, ACH, wire, positive pay), and digital banking via online and mobile platforms.

Product overview

Northwestern Bank is a community bank offering a comprehensive suite of banking products and services through both traditional and digital channels. The product portfolio includes personal banking (checking, savings, CDs, IRAs, HSAs, loans, credit cards, and residential lending), business banking (checking, savings, credit cards, and commercial lending), and treasury management services. Digital banking is delivered through NB Online Banking platform and NB Mobile Banking App (iOS/Android), with supplementary services including Online Bill Pay, Mobile Deposit, E-Statements, and Online Account Opening. Treasury management features include Remote Deposit Capture, Wire Transfers, ACH Direct Deposit, Positive Pay fraud protection, and Merchant Services. Additional offerings include investment services referrals, financial calculators, digital tutorials, and the Banker With A Beer community podcast.

Differentiator

Problem solved

Functional benefit

Brands

• Banker With A Beer: A podcast series co-hosted by Jerry Kuehl and Mike Farrow featuring relaxed conversations spotlighting local businesses and community stories.

Products and services

• Simply Free Checking Free personal checking account with no minimum balance, no monthly service charges, unlimited check and debit transactions, free debit card, and free online banking for individual consumers.
• Free & Easy 62 Checking Personal checking account designed for customers age 62 and older, with complimentary checks included, intended for senior banking consumers.
• My eNB Account Personal interest-bearing checking account with tiered rates starting at $10,000 minimum balance and daily interest compounding for individual consumers seeking yield on checking balances.
• Statement Savings Basic personal savings account with daily interest compounded and credited monthly; $2.00 monthly maintenance fee waived if average monthly balance stays above $50.
• Keystone Money Market Personal money market account offering higher tiered yields on balances of $10,000 and above, with limited transfers/withdrawals per statement cycle and no monthly service charges.
• Certificates of Deposit (CDs) Fixed-term deposit accounts with terms ranging from 91 days to 36 months, with promotional specials including 7-Month CD at 3.85% APY, 13-Month CD at 4.00% APY, and 19-Month CD at 4.10% APY for individual consumers.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings account with an 18-Month CD option and $100 minimum opening deposit for individual retirement savers.
• Health Savings Account (HSA) Tax-exempt account for paying or reimbursing qualified medical expenses for individuals with high-deductible health plans, offering tiered interest rates and free debit card and HSA checks.
• Personal Loans Consumer loans for home improvement, new car purchases, or other important purchases with flexible financing options for individual borrowers.
• Home Equity Line of Credit Revolving credit line secured by home equity for various financial needs including home improvements or major expenses for individual homeowners.
• Automobile Loans Financing options for purchasing new vehicles for individual consumers.
• Personal Credit Cards Personal credit cards with options including low rate, cash back, or flexible rewards, with mobile payment capability and zero fraud liability, issued through Elan Financial Services.
• Residential Lending Mortgage lending services including home purchase financing with local decision-making, online rate review, and online application capabilities for individual homebuyers.
• Classic Business Checking Business checking account with no minimum balance or maintenance fee, QuickBooks-compatible downloads, online banking and bill pay, and optional overdraft services for small and mid-market businesses.
• Business Statement Savings

Quantifiable outcome

• Serving communities since 1904 with assets now totaling $380,000,000 as of 2014
• +2 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Fries Financial Group / Raymond JamescoreGTM or Marketing PartnerNorthwestern Bank refers clients to Fries Financial Group for non-deposit investment services including asset management, estate planning, financial planning, retirement planning, college planning, insurance, annuities, and tax planning. Northwestern Bank receives referral fees for clients who become Raymond James clients, creating a conflict of interest disclosed on the bank's website.
• Mortgage Web CentercoreTechnology or IntegrationThird-party mortgage platform used for online rate review and mortgage applications. Northwestern Bank NMLS#461009 operates through this platform for residential lending services.
• Elan Financial ServicescoreTechnology or IntegrationProvider of NB Business and Personal Credit Cards. Elan Financial Services issues cards under Visa and Mastercard licenses, provides zero fraud liability protection, and offers 24/7 cardmember service.
• DeluxeminorChannel Partner/ Reseller/ DistributorCheck printing partner. Northwestern Bank provides links to Deluxe for personal and business check reordering through their website.
• Mastercard/VisacoreTechnology or IntegrationCard networks for credit and debit cards. Elan Financial Services issues cards under separate licenses from Visa U.S.A. Inc. and Mastercard International Incorporated.
• ElavonminorChannel Partner/ Reseller/ DistributorMerchant services provider offering payment solutions for Northwestern Bank business customers through the Treasury Management services.

Scale indicators9 records

Recent moves13 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/in/jamieleibrandt
• Xx.com/nwbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Northwestern Bank