The Old Fort Banking Company

What The Old Fort Banking Company does

The Old Fort Banking Company is a privately held, FDIC-insured community bank founded in 1916 and headquartered in Old Fort, Ohio, operating as a wholly-owned subsidiary of Gillmor Financial Services Inc. The bank is majority-owned (64%) by an Employee Stock Ownership and 401(k) Plan, making it one of the few majority ESOP-controlled banks in the United States. As of 2024, OFBC reported approximately $845 million in assets and operates 9 financial centers across 6 Ohio counties — Allen, Greene, Hancock, Sandusky, Seneca, and Wood — serving individual consumers, small-to-mid-size businesses, healthcare providers, and agricultural operations through a relationship-banking model that assigns each customer a Single Point of Contact (SPOC).

The company's core technology stack is built on a third-party digital banking platform (Apiture/FundsXpress) extended with proprietary and partner-integrated features including online, mobile (iOS/Android), and 24/7 iTalk telephone banking; Remote Deposit Capture; Positive Pay fraud prevention; Business Investment and Line of Credit Sweep Services; Pay a Person P2P transfers; mobile wallet support (Apple Pay, Google Pay, Samsung Pay); and card management via MyCardRules. Back-office and revenue-share infrastructure is delivered through strategic partnerships with LPL Financial (wealth management, FINRA/SIPC broker-dealer), Elan Financial Services (credit card issuance under Visa license), Elavon (merchant card processing), and Comdata/Fintwist with Regions Bank (payroll card issuance).

OFBC generates revenue primarily through spread-based lending activities (residential mortgages, HELOCs, home equity, auto/RV, personal term loans, commercial real estate, business term loans, lines of credit, and agriculture loans) and deposit-account economics (checking and savings fees, overdraft, ATM, and interest on deposits), augmented by transaction and referral fees from credit cards, merchant services, wealth management, treasury management (ACH origination, direct deposit, balance reporting, Remote Deposit Capture, Positive Pay), payroll cards, and digital banking services such as wire transfers and stop payments. Personal checking tiers include Freedom Checking ($6/month) and Prime Checking ($6/month) with BaZing benefits, while loan products, treasury services, and merchant fees follow transaction- and relationship-based pricing. The go-to-market motion is sales-led through branch-based relationship bankers supplemented by direct-to-consumer digital channels.

Name

The Old Fort Banking Company

Legal name

The Old Fort Banking Company

Website

https://oldfortbank.com

Company type

Private

Founded year

1916

Operating status

Operating

Headcount range

101–250 employees

Short description

The Old Fort Banking Company is a 1916-founded, majority ESOP-owned community bank operating 9 financial centers across 6 Ohio counties, serving consumers, small-to-mid-size businesses, healthcare providers, and agricultural clients with deposit, lending, treasury management, and wealth services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Portfolio Management and Investment Advice (523940)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ)

Keywords

• Community banking services
• Commercial lending products
• Personal deposit accounts
• Treasury management services
• Mortgage loan origination

Headquarters

HQ city

Tiffin

HQ country

United States

HQ region

North America

Offices10 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. Deposit Account Fees and Interest: Revenue from checking and savings account monthly fees, ATM fees, overdraft fees, and interest earned on deposited funds.
2. Lending Activities: Interest income from personal loans, mortgages, home equity products, auto/RV loans, business loans, commercial real estate loans, and agricultural loans.
3. Credit Cards: Revenue share and interchange fees from Elan Financial Services credit card program.
4. Wealth Management: Commission and fee revenue from investment products offered through LPL Financial partnership.
5. Merchant Card Services: Transaction processing fees from merchant services offered through Elavon partnership.
6. Digital Banking Services: Fee income from digital banking services including wire transfers, stop payments, and online bill payment.
7. Treasury Management: Fees for business cash management services including ACH origination, direct deposit, balance reporting, Remote Deposit Capture, and Positive Pay.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

The Old Fort Banking Company is a community bank providing personal and business deposit products (checking, savings, money market, CDs, IRAs, HSAs), lending products (mortgages, home equity, auto/RV, personal loans, commercial real estate, business term loans, lines of credit, agriculture loans), and treasury management services including Remote Deposit Capture, Positive Pay fraud prevention, Sweep Services, Merchant Card Services through Elavon, and payroll cards through Fintwist/Comdata. Wealth management is delivered via Old Fort Wealth Management powered by LPL Financial. Distribution occurs through 9 Ohio branch locations plus online, mobile (iOS/Android), and 24/7 iTalk telephone banking channels.

Product overview

The Old Fort Banking Company offers a comprehensive community banking platform providing personal and business banking products through multiple delivery channels. The core product portfolio includes deposit products (checking, savings, money market, CDs, IRAs, HSAs), loan products (mortgages, home equity, auto/RV, personal loans, commercial real estate, agricultural loans), and digital banking services (online, mobile, telephone banking). Business services include merchant card processing, Remote Deposit Capture, Positive Pay fraud protection, sweep services, payroll cards (Fintwist), and The One Card expense management. Specialized services include Healthcare Banking with dedicated relationship managers, Wealth Management through LPL Financial partnership, and credit monitoring tools. The company operates through a network of nine financial centers across Ohio counties and provides community banking with local decision-making as its core differentiator, emphasizing relationship banking with dedicated Single Point of Contact service.

Differentiator

Problem solved

Functional benefit

Brands

• Old Fort Wealth Management: Investment division providing wealth management and financial products services through LPL Financial.
• Gillmor Financial Services
• Gillmor Charitable Foundation

Products and services

• Freedom Checking Basic everyday personal checking account with digital banking services, Visa contactless debit card, and eStatements, priced at $6 per month.
• Prime Checking Premium personal checking account with BaZing benefits including ID theft aid, cell phone protection ($400/claim, $800/year), roadside assistance, buyer protection, and local discounts, priced at $6 per month.
• Prime Plus Checking Enhanced premium personal checking account offering additional benefits and services beyond Prime Checking.
• Regular Savings Account Essential personal savings account for everyday savings needs, serving as the foundation for financial success.
• Money Market Accounts Tiered-rate personal savings accounts allowing balance building without money lockup, offering competitive interest rates on higher balances.
• Certificates of Deposit and IRAs Certificate of deposit accounts with various terms and competitive rates, plus tax-advantaged Individual Retirement Accounts (IRAs) for long-term retirement savings.
• Health Savings Account (HSA) Tax-advantaged health savings account for preparing and paying medical expenses, offering triple tax advantages.
• Home Equity Lines of Credit Revolving credit lines secured by home equity, allowing borrowing against accumulated home value for various financial needs.
• Home Equity Loans Fixed-rate loans secured by home equity providing lump sum financing for major expenses, home improvements, or debt consolidation.
• Auto and RV Loans Financing options for vehicle purchases including automobiles and recreational vehicles, with competitive rates and quick local decisions.
• Personal Term Loans Fixed-term personal loans for various purposes including education expenses, with flexible repayment terms customized to borrower budgets.
• Credit Cards Visa credit card products issued through Elan Financial Services offering consumer, signature, and business card options with rewards and online account management.
• Business Checking Accounts Business checking account suite including Business Progressive Checking, Business Corporate Checking, and Business Extra Checking tailored to various business needs.
• Business Savings and Money Market Accounts Business savings options including Regular Business Savings Accounts, Business Money Market Accounts, and Business Certificates of Deposit.
• Business Real Estate Loans Commercial real estate financing for property acquisition, development, and expansion for business clients.
• Business Term Loans Fixed-term commercial loans for business capital needs, equipment purchases, and operational financing.
• Business Lines of Credit Revolving credit facilities for businesses providing flexible access to capital for working capital and operational needs.
• Agriculture Loans Specialized agricultural financing for farmers and agribusiness operations including operating loans, equipment financing, and land purchases.
• Healthcare Banking Specialized banking solutions for healthcare providers and medical practices with personal relationship managers and services tailored to medical practice needs.
• Old Fort Wealth Management Investment and wealth management division providing personalized concierge-level financial services through partnership with LPL Financial (member FINRA/SIPC).
• Merchant Card Services Payment processing solutions through Elavon for businesses accepting card payments in-person, online, and mobile with next-day funding options.
• Remote Deposit Capture Electronic check deposit service allowing businesses to scan and deposit checks remotely using a desktop scanner and internet connection.
• Positive Pay Fraud detection service for businesses including Check Positive Pay (matching issued checks against presented items) and ACH Positive Pay (monitoring ACH transactions against approved lists).
• Sweep Services Business cash management service including Business Investment Sweep (automated investment of excess funds) and Business Line of Credit Sweep (automatic funding and paydown).
• Fintwist Payroll Card Payroll card program through Comdata offering employees direct deposit to Mastercard with free ATM withdrawals at Allpoint network (55,000+ ATMs) for employer-offered payroll services.
• The One Card Visa business expense card program combining travel, fleet, and purchasing on a single card with control, monitoring capabilities, and integration with accounting systems.
• Safe Deposit Boxes Secure physical storage service for important documents and valuables including stock certificates, legal documents, jewelry, and family heirlooms at select financial centers, with annual fees varying by box size.
• Ready Reserve Overdraft Protection Pre-approved line of credit linked to checking account that automatically transfers funds when balance is low to prevent overdraft charges, with no application or annual fees.
• Online Banking Secure web-based digital banking platform for personal and business clients to view accounts, transfer funds, pay bills, manage ACH transactions, view statements, and access account services through Apiture/FundsXpress.
• Mobile Banking Mobile banking application for iOS and Android devices providing account access, fund transfers, bill payment, and mobile check deposit capabilities.
• iTalk Telephone Banking Automated 24/7 telephone banking service providing account information access, transfers, loan payments, and card services via 1-844-378-1986.
• Pay a Person Person-to-person instant money transfer service enabling customers to send money to any person in the US using email or mobile phone number through online or mobile banking, supporting ACH and debit card delivery.
• OFBC Mortgage Solutions Mortgage lending through dedicated OFBC Mortgage Solutions offering FHA, VA, USDA, Jumbo, Conventional, and specialty loans plus construction financing and HELOC options for homebuyers.

Quantifiable outcome

• Over $2.4 million in charitable donations since 2007
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Elan Financial ServicescoreGTM or Marketing PartnerCredit card issuer and provider for OFBC-branded credit cards. Provides card processing, customer service, and card management platform through myaccountaccess.com.
• LPL FinancialcoreChannel Partner/ Reseller/ DistributorSecurities broker-dealer for Old Fort Wealth Management division. Provides investment products, brokerage services, and FINRA oversight for wealth management offerings.
• ElavoncoreTechnology or IntegrationPayment processing network for merchant card services. Industry leader providing in-person, online, and mobile payment solutions for OFBC business clients.
• Gillmor Financial Services Inc.coreOthersParent holding company of The Old Fort Banking Company. The bank is a wholly-owned subsidiary of Gillmor Financial Services Inc.
• Pacific Coast Bankers' Bancshares (PCBB)minorOthersExternal vendor for currency exchange services available at OFBC financial centers for customers traveling abroad.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• LCNB Corp. Ohio-based community bank holding company headquartered in Lebanon, OH with branches across southwest and central Ohio. Comparable in size, scope, and community-banking orientation to Old Fort Banking Company.
• WesBanco, Inc. West Virginia and Ohio-based community bank holding company offering retail, commercial, and wealth management services with similar regional footprint. Comparable business model and product set to Old Fort.
• First Financial Bancorp: Ohio-based regional banking franchise with comparable consumer and commercial banking products and a comparable asset scale to Old Fort. Directly competes in overlapping Ohio markets with similar relationship-banking positioning.
• Farmers & Merchants Bancorp: Ohio-based community bank holding company with similar asset size and a comparable branch-based community banking model. Direct peer in the Ohio community banking landscape.
• Civista Bancshares: Ohio-based community bank with similar asset size range, offering comparable personal and commercial banking products. Direct competitor serving overlapping Ohio counties with a community-focused relationship model.
• Park National Corporation: Ohio-headquartered community bank holding company with a multi-county branch network across Ohio and adjacent states. Directly comparable as a regional community bank serving similar SMB and consumer segments in Ohio.
• Premier Financial Corp. Ohio and Michigan-based community bank holding company offering commercial, consumer, and wealth management services. Comparable community banking franchise with similar deposit and lending mix.
• S&T Bancorp: Pennsylvania-based community bank with comparable asset base and product offering across consumer, commercial, and wealth banking. Operates a similar relationship-driven community bank model.

Broad incumbents

• Fifth Third Bank: Major Ohio-based regional bank offering a full suite of consumer, commercial, and wealth management products with a much larger asset base. Represents broader incumbent competition for OFBC's deposit, lending, and wealth customers.
• Huntington Bancshares: Ohio-headquartered regional bank holding company with a much larger asset base, dominant presence across Ohio, and overlapping consumer/commercial banking products. Represents the broader incumbent competitive set Old Fort competes against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@oldfortbankingcompany2226
• Facebookfacebook.com/OldFortBank
• LinkedInlinkedin.com/company/the-old-fort-banking-co
• Instagraminstagram.com/oldfortbank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Old Fort Banking Company