Green Belt Bank & Trust

What Green Belt Bank & Trust does

Green Belt Bank & Trust is a family-owned community bank headquartered in Iowa Falls, Iowa, operating six branches across Hardin, Franklin, Grundy, Butler, and Wright counties in North-central Iowa. Founded in 1986 by Merle 'Rocky' Weaver and now led by his son Christopher Weaver (Owner & Chairman) alongside President & CEO Kirk Yung, the bank has grown from $59 million to more than $740 million in assets, employing approximately 99 staff. Its core offering spans personal banking (checking, savings, VelocitE Rewards Checking, free checking, mortgages, auto loans, personal and business credit cards via Elan Financial Services on the Visa/Mastercard networks), business banking (cash management, Business Manager receivables, merchant services, remote deposit capture), and a specialized agricultural lending franchise that makes it one of Iowa's largest ag banks and an active originator of IFA Beginning Farmer loans.

The technology platform is built on Banno digital banking (online and mobile, iOS and Android), with biometric authentication (Touch ID/Face ID), digital wallet tokenization (Apple Pay, Google Pay, Samsung Pay), contactless Tap Card, Remote Deposit Anywhere mobile capture, and the Autobooks small-business accounting/invoicing module. Core revenue is generated through net interest income on the loan portfolio (ag, commercial, consumer, mortgage) supplemented by deposit account fees, business banking service fees, credit card interchange, trust and wealth management fees, safe deposit box rentals, and ancillary services (wire transfers, cashier's checks, notary). Distribution is hybrid: six physical branches (Iowa Falls, Ackley, Grundy Center, Eldora, Belmond, Parkersburg) plus fully digital self-serve channels, with Spanish-language bilingual staff at three branches and a Mascot Debit Card program that ties card usage to donations at seven local schools. The bank operates an affiliated insurance agency, Green Belt Insurance Services, with locations in Iowa Falls, Grundy Center, and Ackley, providing personal, commercial, farm/ranch, and crop insurance as a cross-sell extension of the deposit franchise.

Name

Green Belt Bank & Trust

Legal name

Green Belt Bank & Trust

Website

https://greenbeltbank.bank

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

Green Belt Bank & Trust is a family-owned community bank operating six branches across North-central Iowa, offering personal, business, and agricultural banking, digital banking, trust services, and affiliated insurance to households, small businesses, and farmers.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Funds, Trusts, and Other Financial Vehicles (525)

SIC

National Commercial Banks (6021), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

akta.pro secondary industries

Corporate & Institutional Trust Services (FSAAANAB), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking
• Agricultural lending
• Consumer banking
• Business banking
• Wealth management

Headquarters

HQ city

Iowa Falls

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Revenue generated from interest on loans including agricultural loans, business loans, commercial real estate, consumer loans, and mortgages. The bank serves as one of the largest agricultural banks in Iowa and is an active originator of IFA Beginning Farmer loans.
2. Deposit Account Fees: Various fees associated with deposit accounts including checking accounts, savings accounts, money market accounts, and certificates of deposit. Includes free checking when enrolled in eStatements.
3. Business Banking Services: Fees for business services including Cash Management, Remote Deposit Capture, Business Manager receivables program, Merchant Services processing, night depositories, and gift cards.
4. Business Software Services: Autobooks subscription at $10/month for accounting features including profit and loss statements, balance sheets, and budgeting tools, plus transaction fees for payment processing.
5. Credit Card Revenue: Business credit cards issued through Elan Financial Services with various card options including low rate, cash back, or flexible rewards programs.
6. Trust and Wealth Management: Estate settlement, trust management, and conservatorship services for customers.
7. Safe Deposit Boxes: Annual rental fees for safe deposit boxes ranging from $12.00 to $75.00 per year.
8. Other Banking Services: Fees for notary services, wire transfers, money orders, cashier's checks, and stop payments.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Green Belt Bank & Trust is a family-owned community bank offering personal and business deposit accounts (checking, savings, money market, CDs), consumer and commercial lending (mortgages, auto, personal, agricultural, business loans, credit cards), digital banking (mobile app, online banking, digital wallet, remote deposit), and trust and estate services across 6 branches in north-central Iowa. It also operates an affiliated insurance agency, Green Belt Insurance Services, offering personal, commercial, farm, and crop coverage.

Product overview

Green Belt Bank & Trust operates as a community bank with a unified banking platform offering deposit accounts, lending products, digital banking services, and business cash management tools. The core product portfolio centers on personal and business checking/savings accounts (including VelocitE Rewards Checking and Your Free Checking), consumer and commercial lending (agricultural, real estate, business, credit cards), and digital banking (mobile app, online banking, digital wallet). Business management tools include Merchant Services, Cash Management, Remote Deposit Capture, Business Manager (receivables), and the integrated Autobooks accounting platform. The bank also offers trust services and maintains an affiliated insurance agency, Green Belt Insurance Services. The architecture is a traditional bank product suite with digital delivery channels (mobile app, online banking) and complementary add-on services (safe deposit boxes, wire transfers, night depositories).

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal deposit account with checking capabilities, available in multiple variants including Your Free Checking (no monthly fee with eStatements) and VelocitE Rewards Checking (high-yield rewards checking earning competitive interest on balances up to $25,000 when monthly requirements are met).
• Personal Savings Personal savings deposit account with competitive interest rates, includes the Green+ Savings Account that offers higher interest earnings for customers with existing bank relationships, requires $100 minimum opening deposit with tiered interest structure and quarterly interest payments.
• Personal Debit Cards Personal debit card products including Mascot MasterCard debit cards (school-themed cards that donate to local schools based on card usage) and instant-issue Tap Cards supporting contactless payments through Apple Pay, Google Pay, and Samsung Pay.
• Mortgage Loans Home purchase and refinancing lending services provided by a real estate lending team, guiding customers through the loan process.
• Personal Credit Cards Personal credit card products offering low rate, cash back, or flexible rewards program options.
• Auto and Personal Loans Vehicle loans and personal loan products for purchasing automobiles or for other personal financing needs.
• Agricultural Loans Specialized farming financing including operating lines of credit, machinery and equipment financing, agricultural real estate financing, livestock facility loans, and Beginning Farmer Loans through the Iowa Finance Authority (IFA). Green Belt is one of the most active originators of IFA Beginning Farmer loans in Iowa.
• Business Loans Commercial lending solutions including lines of credit, equipment financing, receivables financing, commercial real estate loans, construction loans, and SBA loans for small and mid-sized businesses.
• Business Credit Cards Business credit cards issued through Elan Financial Services with Visa and Mastercard options offering low rate, cash back, or flexible rewards programs with 24/7 cardmember service.
• Business Checking and Savings Business deposit accounts including checking and savings designed for small and mid-sized business operating needs.
• Mobile Banking App Mobile application for iPhone and Android devices enabling balance checking, fund transfers, E-Statement access, debit card management, mobile check deposit via remote capture, digital wallet support, and secure chat with bank staff.
• Online Banking Web-based banking platform for account access, balance monitoring, fund transfers, bill payment, E-Statements, and secure chat with bank staff.
• Digital Wallet and Tap Card Mobile payment service supporting Apple Pay, Google Pay, and Samsung Pay for contactless debit card payments at retail terminals and online merchants, plus Tap Card feature for tap-to-pay transactions without PIN entry.
• Cash Management Online banking solution for commercial customers providing ACH origination, payroll direct deposit, balance reporting, and 24/7 account access.
• Business Manager (Receivables Program) Accounts receivable management program providing cash advances on receivables, statement generation, customer payment terms, and management reporting for businesses.
• Merchant Services Payment processing services for merchants including credit, debit, check, and electronic payment acceptance through an endorsed bankcard processor.
• Autobooks Small business integrated accounting and invoicing platform enabling electronic invoicing, ACH and card payment collection, profit and loss statements, balance sheets, and budgeting tools. Priced at $10/month for accounting features with transaction fees for payment processing.
• Trust Services Estate settlement, living and testamentary trust management, and conservatorship services managed by professional trust staff for wealth management clients.
• Safe Deposit Box Secure storage rental for valuable documents and items at annual rates ranging from $12 to $75 depending on box size.
• Wire Transfers Domestic and international wire transfer services for personal and business customers.
• Night Depositories After-hours secure deposit service available at all branch locations for businesses to drop off deposits outside business hours.
• Mastercard Gift Cards Prepaid gift cards loadable from $20 to $1,000 for employee appreciation, customer incentives, promotions, and prizes.

Quantifiable outcome

• Grown from $59 million to over $740 million in assets since 1986
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core.

• Make-A-Wish IowacoreStrategic or Co-development Partner · 1 January 2025Green Belt Bank & Trust partners with Make-A-Wish Iowa as title sponsor of the Wishes on Deck All-Star Softball Game, raising over $190,000 in 2025 to grant 12 wishes for children with critical illnesses. The bank actively participates in organizing and hosting the event with volunteers and resources.
• Feed My Starving ChildrencoreStrategic or Co-development Partner · 1 January 2024Regular volunteer partner for meal packing events. Employees pack meals for children facing hunger globally. Multiple events have packed over 100,000 meals, providing daily meals for 91+ children for a year.
• Green Belt Insurance ServicescoreStrategic or Co-development PartnerAffiliate company providing full line of insurance products including auto, home, business, life, health, crop, farm, and Medicare supplements. Locations in Iowa Falls, Grundy Center, and Ackley.
• Local Schools and School DistrictscoreStrategic or Co-development PartnerMascot Debit Card program donates to local schools based on card usage. Participating schools include Iowa Falls-Alden, Belmond-Klemme, Grundy Center, AGWSR, South Hardin, Aplington-Parkersburg, and Ellsworth Community College.
• Elan Financial ServicescoreTechnology or IntegrationCard issuer for business credit cards (Visa and Mastercard) offering low rate, cash back, and flexible rewards options with 24/7 cardmember service.
• Banno (Digital Banking Platform)coreTechnology or IntegrationDigital banking platform provider powering online and mobile banking experience with features including account access, transfers, bill pay, and secure chat.

Scale indicators19 records

Recent moves14 records

Expansion highlights6 records

Broad incumbents

• MidWestOne Bank: Iowa-headquartered regional bank holding company operating across Iowa, Minnesota, Wisconsin, and Colorado; offers overlapping community banking products but at materially larger scale and broader geographic footprint.
• QCR Holdings: Quad Cities-headquartered bank holding company with community banking subsidiaries across Iowa, Illinois, Missouri, and Nebraska; overlapping ag and SMB lending focus at larger scale.
• Heartland Financial USA: Dubuque, Iowa-based multi-state bank holding company with community banking subsidiaries across the Midwest and Southwest; broader product set and larger scale but serves similarly rural and small-metro communities.

Regional players

• GreenState Credit Union: Iowa-based member-owned credit union offering deposit, lending, and wealth services across Eastern Iowa; serves overlapping consumer and ag-adjacent SMB customers but with a different charter and membership structure.
• Lincoln Savings Bank: Iowa-based community bank with branches across central and eastern Iowa offering similar personal, business, and ag lending products; comparable in size and community banking philosophy.

Direct peers

• Hills Bank and Trust Company: Iowa-based community bank serving rural and small metro markets across Eastern Iowa with similar full-service retail, ag, and SMB lending; comparable asset size and community banking model make it a close operational peer.
• Bank Iowa: Iowa community bank with multi-county branch footprint offering checking, savings, ag lending, and business banking; directly comparable in geography, product mix, and target customer segments.
• United Bank of Iowa: Community bank headquartered in Iowa with branch network across Western Iowa; similar deposit-gathering and ag lending focus, overlapping with Green Belt's community banking approach.
• First Bankers Trust Company: Midwest community bank with retail, business, and ag lending operations; comparable size, community banking orientation, and relationship-driven model.
• Clear Lake Bank and Trust: North-central Iowa community bank serving similar rural markets with personal, business, and ag banking products; closely comparable in scale, geography, and customer profile.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/BeltTrust
• Facebookfacebook.com/304907359656877
• LinkedInlinkedin.com/company/green-belt-bank-&-trust/mycompany
• Instagraminstagram.com/greenbeltbank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

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 Green Belt Bank & Trust