Bank of Monticello

What Bank of Monticello does

Bank of Monticello is a privately held, FDIC-insured community bank headquartered in Monticello, Missouri, founded in 1928 by local shareholders and operating continuously for over 95 years. The bank serves individuals, families, farmers, and small businesses across Lewis, Clark, and surrounding counties in Northeast Missouri through three physical branches in Monticello, Canton, and Kahoka, supplemented by drive-up facilities, off-site ATMs, and 24/7 digital channels. Its customer base is segmented into individual consumers (personal checking, savings, mortgages, consumer installment loans, debit and credit cards) and agricultural and commercial business customers (farm and commercial real estate loans, equipment financing, operating lines of credit, business deposit accounts, and remote deposit capture).

The product portfolio spans personal and business deposit accounts (checking, savings, money market, CDs, HSA, IRA, Christmas and Vacation Club), consumer loans (auto, motorcycle, watercraft, RV, personal, CD-backed), residential mortgages (purchase, refinance, renovation, construction), and specialized agricultural and commercial lending including long-term fixed-rate farm real estate loans through a Farmer Mac partnership. Card services are issued through Shazam (debit) and Visa (consumer and business credit). Digital delivery is entirely third-party: FundsXpress powers the online banking platform and Apiture powers the iOS and Android mobile applications, which support account access, bill pay, mobile check deposit, and same-day remote deposit capture for business customers before the 2:00 PM cutoff.

Revenue is generated primarily through net interest income on the loan portfolio (agricultural, commercial real estate, consumer, and mortgage), supplemented by deposit account service charges, per-transaction fees, interchange income from Shazam and Visa card networks, and ancillary fees such as dormant account reactivation and safe deposit box rentals. Pricing is set through minimum balance thresholds, per-debit service charges (e.g., $0.05 to $0.15), and tiered subscription-style fees on bundled products such as Secure Benefits Checking ($3/month with embedded insurance benefits). Go-to-market is direct-to-consumer through branch-level in-person service, local community presence, and word-of-mouth referrals in a tightly defined rural geography; the bank does not disclose revenue and operates with 11-50 employees under local shareholder ownership with no institutional or private equity backing.

Name

Bank of Monticello

Legal name

Bank of Monticello

Website

https://bankofmonticello.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

11–50 employees

Short description

Bank of Monticello is a privately held, FDIC-insured community bank founded in 1928, serving individuals, farmers, and small businesses across Lewis and Clark counties in Northeast Missouri through three branches and 24/7 digital banking channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking
• Retail banking
• Agricultural lending
• Consumer loans
• Business banking

Headquarters

HQ city

Monticello

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest earned on loan portfolio including agricultural loans, commercial real estate loans, consumer installment loans, and home mortgages. Core revenue driver for community bank
2. Deposit Account Fees: Monthly service charges, per-transaction fees, and minimum balance fees on business and personal deposit accounts. Fee structures vary by account type and balance thresholds
3. Card Transaction Fees: Interchange income from debit and credit card transactions processed through Shazam and Visa networks
4. Online Banking Services: Revenue from bill pay services and online banking platform access. Free online banking provided with accounts, with reactivation fees for dormant accounts

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Monticello is a community bank providing deposit accounts (checking, savings, money market, CDs, HSA, IRAs), consumer and home mortgage loans, agricultural and commercial lending (including Farmer Mac farm real estate loans), business deposit services, Visa and Shazam-branded debit and credit cards, and digital banking through online, mobile, and remote deposit channels. Services are delivered through three branch locations in Northeast Missouri combined with digital banking infrastructure provided through third-party partners.

Product overview

Bank of Monticello is a community bank offering a unified banking platform with integrated personal, business, and agricultural financial services. The core digital banking experience consists of Online Banking and Mobile Banking, supplemented by Mobile Check Deposit for remote deposits. The bank provides deposit products including checking, savings, money market, and CDs for personal and business customers; credit and debit card services through Shazam and Visa networks; personal loans and home mortgages; and specialized agricultural and commercial lending including Farmer Mac farm real estate loans. Additional services include safe deposit boxes, health savings accounts, and IRA products. The product portfolio is completed with Business Deposit Capture for remote check processing and bundled insurance products through Secure Benefits checking.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Banking Internet-based banking platform enabling customers to pay bills, transfer funds, and view account balances from any device with web access. Available to both personal and business customers.
• Mobile Banking App Native smartphone application for iOS and Android providing 24/7 account access, bill pay, fund transfers, and balance viewing for personal and business customers.
• Secure Benefits Checking Personal checking account requiring $1,000 minimum balance to open with $3.00 monthly service charge. Bundled with $2,500 Accidental Death or Dismemberment Insurance, CyberScout Identity Theft Resolution, and Cellular Telephone Protection up to $250 per claim.
• Health Savings Account (HSA) Interest-earning savings account compatible with high-deductible health insurance plans, providing tax advantages for medical expense savings. Requires $50 minimum to open with $2.00 monthly service charge waived with qualifying balances.
• Christmas Club and Vacation Club Accounts Specialty savings accounts with weekly deposit plans where Christmas Club funds are disbursed in October and Vacation Club funds in April for targeted seasonal saving goals.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings plans available in Traditional and Roth variants with contribution limits and early withdrawal penalties governed by law.
• Business Checking Accounts Business deposit accounts with no minimum balance, unlimited transactions, free online banking, and free online bill pay. Small per-debit fee applies if average balance falls below $10,000 during statement cycle.
• Interest Bearing Checking Accounts Interest-bearing checking account requiring $500 minimum balance to earn interest, with no service charges if average balance is maintained.
• High Yield Checking Accounts Business checking account with tiered interest rates that increase as deposit balances grow, requiring $1,000 minimum balance to earn interest.
• Money Market Accounts Interest-bearing money market deposit requiring $500 minimum balance, limited to 6 debits per statement cycle with excess debit fees.
• Passbook Savings Accounts Traditional savings account with no minimum balance, earning interest on balances of $100 or greater, compounded and paid quarterly.
• Certificates of Deposit Time deposits with competitive interest rates available in terms ranging from 91 days to 5 years, with penalties for early withdrawal.
• Shazam Debit Card MasterCard-linked debit card connected to Bank of Monticello checking accounts via the Shazam network, accepted at merchants worldwide and at ATM locations.
• Bank of Monticello VISA Credit Card Visa credit card with 24/7 customer assistance, Zero Liability fraud protection, and reward points redeemable for merchandise or travel.
• Business VISA Credit Card Business credit card with online account management, preset spending limits per employee, and Visa Zero Liability protection.
• Business Deposit Capture (Remote Deposit) Remote deposit capture service enabling business customers to deposit checks electronically from their office without visiting a branch. Deposits made before 2:00 PM are available same day.
• Personal Loans Installment loans for individuals covering automobiles, motorcycles, watercraft, recreational vehicles, personal needs, and certificate of deposit-backed borrowing.
• Home Mortgage Loans Home purchase, refinance, renovation, and construction loans originated and serviced locally with competitive rates and personalized service. NMLS# 495052.
• Ag & Commercial Loans Agricultural and commercial lending products including farm real estate loans through the Farmer Mac program, machinery and equipment financing, and revolving lines of credit for crop and livestock operations.
• Safe Deposit Boxes Secure storage service for valuable documents and items, available in various sizes at all Bank of Monticello branch locations.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Farmer MaccoreStrategic or Co-development PartnerLong-term fixed rate Farm Real Estate loans offered through the Farmer Mac program for agricultural customers seeking land financing
• ShazamcoreTechnology or IntegrationShazam debit card network processing debit card transactions at ATM locations and point-of-sale terminals
• VisacoreTechnology or IntegrationVisa credit card issuance and network including VISA Zero Liability protection for unauthorized charges and reward points program
• FundsXpresscoreTechnology or IntegrationOnline banking platform provider powering the bank's online banking login and services
• ApiturecoreTechnology or IntegrationMobile banking platform provider for iOS and Android mobile applications
• CardSupportCenterminorChannel Partner/ Reseller/ DistributorThird-party application processor for Bank of Monticello Business VISA credit card applications

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-bank-of-monticello-monticello-mo-

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&A

Investments

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

Frequently asked questions about Bank of Monticello