EvaBank
EvaBank is an independently owned, FDIC-insured community bank headquartered in Cullman, Alabama, operating seven branches across north Alabama. It serves consumers, small businesses, and specialty commercial accounts with checking, savings, CDs, and a specialty lending suite including mobile home and land loans.
- Company typePrivate
- Founded1986
- HeadquartersCullman, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What EvaBank does
EvaBank is a privately held, independently owned state-chartered community bank headquartered in Cullman, Alabama, operating seven branches across north Alabama communities including Cullman, Eva, Birmingham, Madison, Decatur, and Arab. The bank is FDIC-insured and Equal Housing Lender-certified (NMLS# 414640, Routing# 062203719), serving individual consumers, small businesses, and specialty commercial segments such as attorneys (IOLTA accounts) and nonprofits (NPO accounts). Its tagline "E.V.A. - Every Valuable Advantage" reflects a positioning built around local credit decision-making, a relationship-based service model, and willingness to underwrite borrowers based on overall financial standing rather than credit score alone.
The product portfolio spans consumer checking (Better Half for 46+, Basic, Student under 21), business checking (Small Business, Commercial), savings (Advantage, Extreme Money Market), time deposits (CDs and IRAs), and a lending suite that includes residential mortgages, commercial loans, installment loans, land loans, mobile/manufactured home loans, and multi-family property loans. All loan products carry no prepayment penalties, and multi-family lending extends across Alabama, Mississippi, Tennessee, and Georgia. The digital banking experience is delivered through the Banno Online and Mobile Banking platform (two-factor authentication, biometric login, eStatements, mobile deposit, iPay bill payment). Card services were modernized in December 2023 with the migration from Personix to Card@Once for Visa Contactless Debit issuance, complemented by Visa Secure (3D Secure) authentication since 2021 and an automated debit card fraud-alert system.
EvaBank generates revenue primarily through net interest income on its loan portfolio and deposit balances, supplemented by transaction-based fee income (overdraft/NSF at $18/item, wires at $5 in/$10 out, stop payments at $20, dormant fees at $10/month, debit card international service assessment of 0.8% plus 1% currency conversion). Loan payments made by debit/credit card carry a 3% transaction fee, while ACH payments are free. The bank distributes through branch banking, phone banking (844-EvaBank), the Banno-powered self-serve digital channel, and the Allied Payment-powered Loan Payment Center, with marketing concentrated on the website, Facebook, and local community presence. Leadership is led by Thomas Russell (President/Sr. Credit Officer) and Paula Bodkin (CFO/COO/Sr. VP), reflecting a management-led ownership structure typical of community banks.
EvaBank firmographics
Firmographics- Name
- EvaBank
- Legal name
- EvaBank
- Website
- https://evabank.com
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- EvaBank is an independently owned, FDIC-insured community bank headquartered in Cullman, Alabama, operating seven branches across north Alabama. It serves consumers, small businesses, and specialty commercial accounts with checking, savings, CDs, and a specialty lending suite including mobile home and land loans.
- Ownership category
- akta.pro rank
EvaBank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)
Keywords
Where EvaBank is headquartered
LocationHeadquarters
- HQ city
- Cullman
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
EvaBank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income on Loans: EvaBank generates primary revenue through interest income on various loan products including residential mortgages, commercial loans, installment loans, land loans, mobile home loans, and multi-family property loans. The bank offers competitive rates with terms up to 360-month amortization for residential and 300-month for commercial/multi-family loans.
- Banking Fees and Service Charges: Various fee income streams including overdraft/NSF fees ($18/item), wire fees ($5 in/$10 out), stop payments ($20), research fees ($25/hour), ATM/debit card reorder ($10), dormant fees ($10/month), safe deposit box fees, notary fees ($5), and loan-related fees.
- Deposit Account Services: Revenue from checking and savings account services, including earnings on fractional reserves from customer deposits used for lending activities.
- CD and IRA Products: Time deposit products with APYs ranging from 3.41% to 4.03% as of May 2026, with minimum deposits of $1,000 for CDs and $500 for IRAs.
- Debit Card Transaction Fees: 3% fee for debit card loan payments; Visa international service assessment of 0.8% on international transactions plus 1% for currency conversions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Bounce/Overdraft/NSF Fees: $18.00 per item |
| Transaction based/ take rate | Pay-as-you-go | Wire and Service Fees |
| Transaction based/ take rate | Monthly | Account and Card Fees |
| Subscription | Annual | CD Products with APYs ranging from 3.41% to 4.03% |
| Other | Pay-as-you-go | Early Withdrawal Penalties |
| Transaction based/ take rate | Pay-as-you-go | Loan Payment Fees |
| Subscription | Monthly | Personal Checking Accounts |
| Subscription | Monthly | Savings Accounts |
| Subscription | Monthly | Business Checking |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
EvaBank product offering
Product offeringCore offering
EvaBank is a community bank that accepts FDIC-insured deposits (personal and business checking, savings, money market, CDs, IRAs) and originates a range of consumer and commercial loans, including residential mortgages, commercial loans, installment loans, land loans, mobile/manufactured home loans, and multi-family property loans. Services are delivered through seven Alabama branches and the Banno digital banking platform, with Visa contactless debit cards, mobile check deposit, bill pay, fraud alerts, and online loan repayment.
Product overview
EvaBank is a small independently owned and operated community bank offering a comprehensive suite of banking products and lending services through seven branch locations in Alabama. The digital banking experience is delivered through the Banno Online and Mobile Banking platform, which serves as the core hub for account access, bill payment (via iPay), mobile deposits, and eStatements. The product portfolio encompasses personal checking accounts (Better Half, Basic, Student), business checking accounts (Small Business, Commercial, IOLTA, NPO), savings accounts (Advantage Savings, Extreme Money Market), CDs and IRAs, credit cards, and Visa contactless debit cards with fraud protection services. Lending products include commercial loans, installment loans, land loans, mobile/manufactured home loans, multi-family property loans, and residential property loans, all featuring flexible terms with no prepayment penalties and decisions based on overall financial assessment rather than credit score alone. The bank also provides a Loan Payment Center powered by Allied Payment and an extensive set of financial planning calculators.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts (Better Half, Basic, Student) FDIC-insured personal checking accounts for individuals, including Better Half Checking (46+, interest-bearing, free checks, safe deposit box discount), Basic Checking (no monthly fee with eStatements, $4/month otherwise), and Student Checking (under 21, $25 minimum, no monthly fee with eStatements, converts to Basic at 21).
- Business Checking Accounts (Small Business and Commercial) Business checking accounts for small businesses and commercial operators. Small Business Checking offers 30 free transactions/month, a Visa Debit Card, and $0.20/item over limit; Commercial Checking uses average-balance-based service charges (waived at $10,000+) and includes 50 free transactions/month with $0.15/item over limit.
- Specialty Business Checking (IOLTA and NPO Accounts) Specialty business checking accounts: IOLTA accounts for attorneys (unlimited check writing, online/mobile banking with bill pay, daily-compounded monthly interest) and NPO accounts for non-profits and public funds (unlimited check writing, online/mobile banking with bill pay).
- Savings and Money Market Accounts (Advantage Savings, Extreme Money Market) Interest-bearing savings products including Advantage Savings ($100 minimum, no monthly fee, $0.50/item on withdrawals beyond 4/month, online/mobile access) and Extreme Money Market ($10,000 minimum, $25/month fee if balance falls below).
- Certificates of Deposit (CDs) and IRAs Time deposit products with $1,000 minimum for CDs and $500 for IRAs, terms from 3 to 60 months, APYs from 3.41% to 4.03% (as of May 2026), automatic renewal at maturity, and early withdrawal penalties of 3-6 months interest depending on term length.
- Credit Cards (Consumer and Business) Credit card offerings for both consumers and businesses, applied for through a third-party card services platform (cardaccount.net) and serviced for EvaBank customers.
- Visa Contactless Debit Card EMV chip debit cards with contactless payment capability issued to EvaBank deposit account holders, processed via Card@Once. Features PIN selection through phone activation, card management through the Banno mobile app, and Visa Secure 3D-Secure authentication for online purchases.
- Residential Property Loans (Mortgages) Residential mortgages for site-built homes and residential land with terms up to 360-month amortization on 5-1 ARM, no prepayment penalties, interest-only on outstanding balance, minimum down payment as low as 5% based on credit score and down payment, and credit decisions based on overall financial position.
- Commercial Loans Business financing for commercial operations with terms up to 300-month amortization, variable rate options, no prepayment penalties, minimum down payment typically around 15%, and decisions based on overall financial situation rather than credit score alone.
- Installment Loans Installment financing for commercial equipment, RVs, boats, tractors, farm equipment, automobiles, recreational vehicles, CD-secured loans, and personal/unsecured loans with adaptable repayment terms based on collateral, credit score, and down payment, and no prepayment penalties.
- Land Loans Financing for timberland, farmland, commercial land, hunting/recreational tracts, construction, and residential lots with terms up to 30 years on 5-1 ARM, up to 85% financing depending on property classification, and 15% minimum down payment.
- Mobile/Manufactured Home Loans Specialty financing for manufactured and mobile homes with or without land. Conventional loans require 10% down, terms of 15-20 years based on home age, 5-1 ARM or fixed rate options, and maximum 90% LTV for purchases/refinances.
- Multi-Family Property Loans Loans for multi-family properties in Alabama, Mississippi, Tennessee, or Georgia with terms up to 300-month amortization on 5-1 ARM, no prepayment penalties, approximately 15% minimum down payment, and decisions based on overall financial situation.
Companies that use EvaBank
Customer profileSegments4 records
Ideal customer profiles4 records
EvaBank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature7 records
EvaBank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- BannocoreBanno provides the online and mobile banking platform for EvaBank, including account management, mobile deposit, eStatements, and bill payment services. This is the primary digital banking infrastructure partner.
- AdobeminorAdobe Acrobat Reader is referenced as required software for viewing PDF documents on the EvaBank website.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
EvaBank competitors and assessment
Company assessmentRegional players
- ServisFirst Bancshares: Alabama-headquartered commercial bank offering full-service retail and commercial banking across the Southeast. Comparable as a same-state community/commercial bank, but larger and publicly traded, illustrating the scale EvaBank could grow into.
- SmartBank: Community-focused commercial bank headquartered in Tennessee with branches across the Southeast including Alabama. Comparable in product mix (consumer/commercial deposits and loans) and in multi-state CRE appetite similar to EvaBank's multi-family program.
- Cb&S Bank: Alabama-headquartered community bank with branch network across north Alabama offering consumer/commercial deposits and loans. Comparable as an Alabama community-bank competitor with overlapping geographies and product lines.
Broad incumbents
- Cadence Bank: Regional commercial bank with deep Alabama presence after the BancorpSouth merger, offering consumer deposits, commercial lending, and treasury services across the Southeast. Overlaps EvaBank in core deposit and commercial loan products within overlapping Alabama markets.
- Regions Financial (Regions Bank): Birmingham, Alabama-headquartered regional bank with full retail and commercial banking across the Southeast. Largest in-state competitor for both consumer deposits and the commercial/multifamily lending segment EvaBank targets.
Direct peers
- Progress Bank and Trust: Alabama-based community bank with branches in north Alabama offering consumer checking/savings, commercial loans, and mortgage lending. Closest geographic and product-line comparable to EvaBank as a similarly sized privately held in-state competitor.
- Bryant Bank: Alabama-headquartered community bank with multiple branches across central and north Alabama, providing consumer checking, business banking, and CRE lending. Operates in overlapping markets with similar branch-led, locally-decided underwriting model.
- First Bank of Alabama: Talladega, Alabama-based state-chartered community bank with branches across Alabama providing consumer deposits, business checking, and commercial lending. Direct comparable as a small in-state community bank targeting similar rural and small-town markets.
- Vantage Bank of Alabama: Alabama-based community bank providing personal and business banking with multi-family and commercial real estate lending in the Southeast. Closely comparable in loan-product mix including multi-family CRE and mobile-home-adjacent lending.
Emerging players
- Live Oak Bancshares: North Carolina-based digital community bank specializing in small business lending (notably SBA). Relevant comparable for EvaBank's business banking and niche lending orientation through a technology-forward, less-branch-led lens.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
EvaBank social profiles
Digital presenceEvaBank compliance and trust
Trust signalCompliance3 records
EvaBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
EvaBank leadership team
Management profileNumber of profiles
Profiles13 records
EvaBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EvaBank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EvaBank
What does EvaBank do?
EvaBank is a community bank that accepts FDIC-insured deposits (personal and business checking, savings, money market, CDs, IRAs) and originates a range of consumer and commercial loans, including residential mortgages, commercial loans, installment loans, land loans, mobile/manufactured home loans, and multi-family property loans. Services are delivered through seven Alabama branches and the Banno digital banking platform, with Visa contactless debit cards, mobile check deposit, bill pay, fraud alerts, and online loan repayment.
Is EvaBank a public or private company?
EvaBank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was EvaBank founded?
EvaBank was founded in 1986. It employs 11 to 50 people.
Where is EvaBank based?
EvaBank is headquartered in Cullman, United States, in the North America region.
How does EvaBank make money?
Five revenue lines are on record. Interest Income on Loans are the primary driver. The others are banking Fees and Service Charges, deposit Account Services, CD and IRA Products and debit Card Transaction Fees.
Who are EvaBank's main competitors?
Regional players on record are ServisFirst Bancshares, SmartBank and Cb&S Bank. Broad incumbents are Cadence Bank and Regions Financial (Regions Bank). Direct peers are Progress Bank and Trust, Bryant Bank, First Bank of Alabama and Vantage Bank of Alabama. Live Oak Bancshares is listed as an emerging player.
Does EvaBank have an API?
No public API is recorded for EvaBank.
What industry is EvaBank in?
EvaBank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAIAB, Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards). Its NAICS code is 52211 and its SIC code is 6022.