The New Washington State Bank

What The New Washington State Bank does

The New Washington State Bank (NWSB) is a privately held, state-chartered community bank founded on March 6, 1908, in New Washington, Indiana, by ten local business leaders and farmers. Headquartered at 402 E Main Street, New Washington, IN 47162, the bank operates 12 retail branch locations spanning Southern Indiana communities across Clark, Floyd, Harrison, Jackson, and Scott counties (New Washington, Jeffersonville x2, Charlestown, Borden, Sellersburg, Scottsburg, River Ridge, New Albany, Floyds Knobs, Henryville, and Medora), with the Medora branch added in 2026 via the acquisition of State Bank of Medora.

Core product surface spans personal deposit accounts (NWSB Gold+, Gold, and Blue checking tiers, Regular and Children's Savings, CDs, and Traditional/Roth/Education IRAs), personal lending (mortgages including FHA, VA, USDA, construction, HELOC; auto, RV, unsecured improvement, and personal loans; Visa credit and debit cards), and a full business banking suite (tiered business checking and savings, treasury management via ACH/wires/Positive Pay/Remote Deposit Capture, business credit cards, SBA 7(a) loans, lines of credit, commercial real estate financing, and merchant payment processing through partner BancCard). The digital banking platform is built on Apiture's hosted infrastructure, supporting online banking, iOS and Android native mobile apps, SMS text banking, 24-hour Info-Line telephone banking, mobile check deposit, bill pay, and external transfers. Value-added layer includes the BaZing Rewards program (cell phone protection, ID theft aid, health savings card, roadside assistance, credit monitoring, and shopping discounts) and Savvy Money-powered credit scoring within digital banking.

Revenue is generated across nine streams: net interest income on loans and deposits, monthly maintenance fees on personal and business deposit accounts, mortgage origination fees, consumer loan interest and fees, interchange from Visa debit and credit, treasury management service fees, and merchant processing residual fees. GTM is sales-led and relationship-banking-led, leveraging branches as primary acquisition touchpoints and digital channels for retention and convenience; no enterprise channel or direct outside sales force is documented beyond in-branch commercial and mortgage loan officers. The bank is independently owned with no parent holding company or outside institutional investment disclosed.

Name

The New Washington State Bank

Legal name

The New Washington State Bank

Website

https://newwashbank.com

Company type

Private

Founded year

1908

Operating status

Operating

Headcount range

51–100 employees

Short description

The New Washington State Bank (NWSB) is a privately held, Indiana state-chartered community bank founded in 1908, operating 12 branches across Southern Indiana. It offers personal and business deposit, lending, treasury management, and merchant payment services via an Apiture-powered digital platform and community-banking relationship model.

Ownership category

akta.pro rank

Headquarters

HQ city

New Washington

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest earned on loans (mortgages, auto loans, personal loans, business loans, credit cards) minus interest paid on deposits (checking, savings, CDs). Core revenue driver for the bank.
2. Deposit Account Fees: Monthly service fees on checking and savings accounts when minimum balance requirements are not met. Includes small business and personal account maintenance charges.
3. Checking Account Fees: Monthly maintenance fees for checking accounts (NWSB Gold+: $10, NWSB Gold: $7, NWSB Blue: $5) and paper statement fees ($3/month).
4. Business Banking Service Fees: Monthly service fees on business checking accounts including small business ($7.50), small business interest bearing ($15), regular business checking ($9), and interest bearing business checking ($12).
5. Mortgage Lending: Origination fees and ongoing interest from mortgage products including fixed rate, adjustable rate, FHA, VA, USDA, construction loans, home equity loans and lines of credit.
6. Consumer Lending: Interest and fees from auto loans, recreational vehicle loans, personal loans, credit cards, and unsecured home improvement loans up to $25,000.
7. Card Transaction Fees: Interchange fees from VISA debit and credit card transactions processed through the bank.
8. Treasury Management Services: Fees for ACH services, wire transfers, positive pay, remote deposit capture, and cash management for business customers.
9. Merchant Payment Services: Transaction processing fees from merchant services partnership with BancCard for terminal equipment, online payments, POS systems, and mobile card processing.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

The New Washington State Bank (NWSB) is an independent community bank that delivers personal and business banking services from 12 branches across Southern Indiana and a digital banking platform on Apiture. Its core offerings include personal deposit accounts (checking, savings, CDs, IRAs), consumer mortgages and personal loans, business checking/savings, commercial lending (SBA, lines of credit, commercial real estate), treasury management, merchant card processing, and branded rewards/protection programs such as BaZing.

Product overview

NWSB is a community bank offering a unified platform of personal and business banking products built around its Apiture-powered digital banking ecosystem. Core deposit products include personal checking (Gold+, Gold, Blue tiers), personal savings, and CDs/IRAs on the consumer side, alongside business checking and business savings for commercial customers. Lending products span home mortgages (fixed, ARM, FHA, VA, USDA, construction, land, HELOC), personal lending (auto, RV, unsecured improvement, debt consolidation), and business banking services (credit cards, SBA loans, lines of credit, commercial real estate). The platform's centerpieces are the NWSB Mobile App and Online Banking, which serve as the primary digital channels for all account management, transfers, and bill pay. BaZing Rewards, available as a bundled add-on with Gold+ checking and as a standalone app, extends the platform with card-linked discounts, cell phone protection, ID theft protection, credit monitoring, and bill negotiation. Treasury Management and Merchant Payment Services round out the business offerings, while Financial Calculators and Info-Line provide supplementary financial tools.

Differentiator

Problem solved

Functional benefit

Brands

• BaZing Rewards: A rewards program offered to checking account holders providing local discounts, national retailer deals, cell phone protection, roadside assistance, ID theft aid, and buyer's protection.

Products and services

• Personal Checking Multi-tier personal checking offering (NWSB Gold+ premium with BaZing rewards and interest, NWSB Gold with cell phone protection and shopping deals, and NWSB Blue low-cost basic tier), all featuring online banking, bill pay, mobile deposit, debit card, and credit score access for individual consumers in Southern Indiana.
• Personal Savings Personal savings line including Pocket Change Savings (automatic debit-card round-up transfers to savings), Regular Savings (fee-waived for ages 23 and under or 62 and over), and Children's Savings for ages 23 and under, designed to drive household savings behavior.
• Personal CD/IRA Certificate of Deposit accounts (multiple maturity terms, daily interest accrual, quarterly payouts) plus Individual Retirement Accounts including Traditional IRAs, Roth IRAs, and Education IRAs for individual retirement savers in Southern Indiana.
• Home Loans Residential real estate lending suite including fixed-rate mortgages, adjustable-rate mortgages, 100% financing options, FHA, VA, USDA mortgages, construction loans, land loans, home equity loans, and home equity lines of credit (HELOCs) for consumer homebuyers in Southern Indiana.
• Personal Lending Consumer loan products including auto loans (new and used), recreational vehicle financing (boats, ATVs, RVs up to 100% of purchase price plus taxes and warranties), unsecured home improvement loans up to $25,000, debt consolidation loans, and personal credit cards for individual borrowers.
• Business Banking Services Comprehensive business banking package including business credit cards (Visa Platinum Business, Business Cash Rewards, Business Rewards), small business loans (Traditional Term Loans, Guidance Line of credit, SBA 7A loans), business lines of credit, and commercial real estate financing for Southern Indiana businesses.
• Business Checking Tiered business checking accounts: Small Business Checking ($1,000 minimum, low-volume), Small Business Interest Bearing Checking ($5,000 minimum, interest paid on balance), Regular Business Checking (Account Analysis, large-volume, $9 monthly fee), and Interest Bearing Business Checking ($10,000 minimum, earnings credit offset), all accessed via business online banking.
• Business Savings Business savings account with $100 minimum opening deposit, $200 minimum balance to avoid a $5 monthly fee, six free withdrawals per month then $1 per withdrawal, unlimited deposits, and quarterly statements designed to support business cash accumulation.
• Treasury Management Services Business cash management suite including business online banking, user access controls and alerts, Check Positive Pay and ACH Alert fraud protection, remote deposit capture (desktop RDC and mobile), merchant services integration, ACH origination and receive, and wire transfer services.
• Merchant Payment Services Business payment acceptance program delivered in partnership with BancCard, covering terminal equipment, online payment gateways, POS equipment for restaurants and retail, and mobile card processing for on-the-go businesses.
• NWSB Digital Banking (Online & Mobile Banking) Unified digital banking platform including online banking (apiture.com/NWSBNWIN) and the NWSB Mobile App (iOS and Android), enabling real-time balances, transaction history, check images, scheduled/repeating transfers, online bill pay with e-Bills, external transfers, secure messaging, e-statements, and mobile check deposit for personal and business customers.
• BaZing Rewards Rewards and protection program featuring local discounts, national retailer deals, a health savings card, cell phone protection (up to $600/claim, $1,200/year), 24/7 roadside assistance (up to $80), travel accidental death coverage, ID theft aid with $2,500 reimbursement plus identity restoration, credit monitoring, dark-web monitoring, buyer's protection and extended warranty, and Billshark bill negotiation; delivered via the NWSB Gold Advantage mobile app.
• NWSB Mobile App Standalone mobile banking application for iPhone and Android offering balance checks, transaction history, internal transfers, debit card on/off controls, branch location maps, mobile check deposit, Tap-to-Pay contactless payment capability, and SMS text banking via short-code commands.

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and minor.

• BancCardcoreTechnology or IntegrationMerchant payment processing partnership providing terminal equipment, online payment gateway integration, POS equipment for restaurants and retail, and mobile card processing for businesses on the go.
• ApiturecoreTechnology or IntegrationDigital banking platform provider powering NWSB's online banking, mobile banking app, and enrollment systems. Provides the core technology infrastructure for personal and business digital banking experiences.
• Savvy MoneycoreTechnology or IntegrationCredit scoring, analysis, and simulator platform integrated into online and mobile banking providing free credit score access to customers.
• BaZingcoreTechnology or IntegrationRewards program provider powering BaZing Rewards including local discounts, health savings, cell phone protection, roadside assistance, ID theft aid, and buyer's protection. Available through mobile app.
• Deluxe CorporationminorChannel Partner/ Reseller/ DistributorCheck printing services partner referenced for check reordering functionality at www.deluxe.com.

Scale indicators2 records

Recent moves10 records

Expansion highlights5 records

Broad incumbents

• Old National Bancorp: Indiana-headquartered super-community/regional bank with hundreds of branches across Indiana, Kentucky, and adjacent Midwest markets. Significantly larger scale than NWSB but offers overlapping consumer, business, mortgage, and treasury products in Southern Indiana.
• U.S. Bancorp: Major U.S. regional bank with established Indiana and Louisville-metro presence. Overlaps with NWSB on consumer deposits, mortgage, and business banking but operates at substantially larger scale and broader geographic footprint.
• PNC Financial Services: Top-five U.S. bank with meaningful Indiana retail and commercial banking presence, including proximity to NWSB markets. Competes on deposits, lending, and digital experience but at vastly larger scale and broader product portfolio.
• Fifth Third Bancorp: Major Midwestern regional bank with substantial branch and business banking presence across Indiana, including in the Louisville metro and Southern Indiana. Competes with NWSB on consumer deposits, commercial lending, and digital banking but offers a much broader scale and product range.
• JPMorgan Chase: Largest U.S. bank with growing branch and digital footprint across Indiana. Provides consumer and SMB banking, lending, treasury, and merchant services — competitively overlapping NWSB at far larger scale with materially more technology investment.

Direct peers

• Stock Yards Bank & Trust: Louisville, Kentucky-based super-community/regional bank with ~80 branches serving Louisville metro and Southern Indiana. Operates a closely comparable mix of consumer and business banking, treasury management, and wealth services, with overlapping physical presence in NWSB's core Southern Indiana geography.
• German American Bank: Jasper, Indiana-based community bank serving Southern Indiana with a comparable branch-based consumer and business banking model, mortgage lending, and treasury services. Closely matches NWSB in geographic focus and product mix.
• WesBanco Inc. Wheeling, West Virginia-based regional bank holding company of similar scale to NWSB with consumer and commercial banking, mortgage, treasury management, and digital channels. Comparable size and full-service community/regional banking model.
• First Financial Bank: Indiana and Ohio-headquartered community/regional bank with comparable deposit and loan products, SBA lending, treasury management, and digital banking. Comparable operating scale and customer segment focus.
• LCNB Corp: Lebanon, Ohio-based community bank holding company of similar size to NWSB, offering consumer and business banking, mortgage, and treasury management. Closely comparable size, branch footprint, and community-bank operating model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheNWSB
• LinkedInlinkedin.com/company/thenwsb
• Instagraminstagram.com/nwsb812?igsh=MTQ1aHMxbHUwbjFtbg==

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 The New Washington State Bank