Star Bank

What Star Bank does

Star Bank is a privately held community bank headquartered in Maple Lake, Minnesota, operating 10 branch locations across the state, including Wheaton, Annandale, Maple Lake, Eden Prairie, Barrett, Bertha, Eagle Bend, Elbow Lake, Graceville, and Hancock. The bank serves three primary customer segments: personal banking consumers, small-to-medium businesses, and agricultural operations, with select offices having over 100 years of community history (Graceville, Bertha) and the Maple Lake office acquired in 2012. The institution is FDIC-insured, registered as an Equal Housing Lender, and operates under NMLS #415777.

The bank operates a multi-channel banking platform that combines physical branches with digital infrastructure, including the Star Bank MN mobile app, online banking, voice banking, text banking, mobile deposit, P2P payments, bill pay, and biometric authentication (Touch ID/Face ID). Star Bank's product portfolio spans tiered personal deposit accounts (Star Checking, Star Savings, Star Money Market, Relationship Checking, Senior Checking), consumer lending (mortgages, home equity loans and HELOCs, construction loans, auto, RV, personal, bridge, and lot/land loans), business lending (commercial loans, SBA loans, equipment financing and leasing, accounts receivable financing through Business Manager), and cash management services. The bank maintains a specialized agricultural lending practice offering Ag Lines of Credit, Ag Real Estate Loans, machinery and livestock financing, and government-backed FSA and RFA loans through partnerships with the USDA Farm Service Agency and Minnesota Department of Agriculture.

Star Bank's revenue model is traditional banking: net interest income from loans (mortgages, consumer, commercial, agricultural, and construction) and leases, supplemented by noninterest income from deposit account fees (monthly service charges, overdraft, minimum balance fees), digital banking transaction fees, and home equity product origination. The bank's value proposition centers on community presence, local decision-making, personalized relationship banking, competitive rates, and specialized expertise in agricultural and construction lending. The construction lending program is a notable differentiator, with over 400 approved builders in the Twin Cities market and operational integration with approved title company partners including Stewart Title, Bankers Title, Land Title, and Trademark Title.

Name

Star Bank

Legal name

Star Bank

Website

https://starbank.net

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

101–250 employees

Short description

Star Bank is a privately held Minnesota community bank operating 10 branches statewide, offering personal banking, business lending, agricultural financing, construction lending, and digital banking services to consumers, small businesses, and farmers.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

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

Keywords

• Community banking
• Personal lending
• Agricultural loans
• Business banking
• Deposit accounts

Headquarters

HQ city

Maple Lake

HQ country

United States

HQ region

North America

Offices10 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: Traditional banking revenue from interest earned on loans including mortgages, personal loans, auto loans, agricultural loans, commercial loans, and lines of credit.
2. Deposit Account Fees: Monthly service charges, minimum balance fees, overdraft fees, and other account-related fees. Examples: $8/month if balance falls below $500 for Star Checking with Interest, $10/month if combined balance falls below $15,000 for Star Relationship Checking.
3. Digital Banking Services: Revenue from bill pay services, mobile check deposits, and other digital banking transaction fees.
4. Home Equity Products: Home equity loans and lines of credit providing interest income and origination fees.
5. Equipment & Vehicle Leasing: Equipment and vehicle financing and leasing solutions for businesses, generating interest income and lease payments.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Star Bank is a Minnesota-based community bank providing deposit accounts (checking, savings, money market), consumer lending (mortgages, home equity, construction, auto, personal, RV loans), business banking and lending (commercial loans, SBA loans, equipment financing, accounts receivable financing), and specialized agricultural lending (Ag Lines of Credit, Farm Service Agency and Rural Finance Authority loans). The bank delivers these services through 10 physical branches across Minnesota complemented by digital banking channels including online banking, mobile app, voice banking, text banking, and biometric authentication. Services are FDIC-insured and supported by relationship bankers providing localized decision-making.

Product overview

Star Bank is a community bank offering a comprehensive suite of banking products and services through a multi-channel approach. The core offerings include personal and business checking/savings accounts (Star Checking, Star Savings, Star Money Market), consumer lending (mortgages, home equity, construction loans, auto loans, personal loans, RV loans), and business lending (commercial loans, SBA loans, equipment financing, accounts receivable financing). The bank provides specialized agricultural lending services including FSA loans and RFA programs. Digital banking services are delivered through Online & Mobile Banking, Mobile Deposit, Bill Pay, eStatements, P2P transfers, Text Banking, Voice Banking, and biometric authentication (Touch ID & Face ID). Business services include Cash Management with receivables and payables solutions. All products are supported by a network of branch locations across Minnesota.

Differentiator

Problem solved

Functional benefit

Products and services

• Star Checking Basic checking account with no monthly service charge and no interest bearing, designed for hassle-free everyday banking for individual consumers. Requires $100 minimum opening deposit with free eStatements.
• Star Checking with Interest Interest-bearing checking account with variable interest paid monthly for individual consumers. Requires $500 minimum opening deposit, with an $8/month service charge if balance falls below $500.
• Star Relationship Checking Premium checking account for individual consumers offering variable interest paid monthly, $10 discount on annual safe deposit box fee, and free Star Bank logo checks. Requires $15,000 minimum opening deposit, with $10/month service charge if combined deposit balance falls below $15,000.
• Senior Star Checking Checking account designed for individual consumers ages 62 and better, offering variable interest paid monthly on balances above $500.
• Star Savings Savings account for individual consumers with variable interest and a $200 minimum opening deposit; service charge of $5/quarter waived for youth ages 18 and under.
• Star Money Market Money market savings account for individual consumers with variable and tiered interest rates. Requires $2,500 minimum opening deposit, with $15/month service charge if balance falls below $2,500.
• Mortgages Mortgage lending solutions for individual consumers including flexible loan terms, fixed rate loans, adjustable loans, and rural development loans for primary residences, vacation properties, lake homes, cabins, and refinancing.
• Home Equity Loans and Lines of Credit Home equity solutions for individual consumers including Home Equity Loan (HEIL) for one-time distributions with fixed rates and flexible repayment terms, and Home Equity Line of Credit (HELOC) for revolving access to funds with low monthly minimum payments and variable rates.
• Residential Construction Loans Construction lending solutions for residential builders and home buyers including Interim Construction Loans (short-term), One-Time Close Construction Loans (construction-to-permanent), and Builder Lines of Credit. Backed by over 400 approved builders in the Twin Cities market.
• Bridge Loans Short-term financing for individual consumers to bridge the gap between selling a current property and purchasing a new one, enabling seamless property transitions.
• Lot and Land Loans Loans for individual consumers and other buyers for purchasing developed or underdeveloped land, primary or secondary residences, and agricultural land; can also be used for refinancing existing land purchases.
• Personal Loans Unsecured loans for individual consumers for debt consolidation, home projects, moving expenses, travel, or unexpected bills with fixed interest rates and predictable monthly payments.
• Recreational Vehicle Loans Financing for individual consumers for RVs, motorhomes, campers, trailers, motorcycles, boats, ATVs, snowmobiles, and other outdoor vehicles.
• Auto Loans Vehicle financing for individual consumers including dealer purchases (new or used), refinancing existing auto loans, lease buyouts, and private party purchases. Rates and terms are determined through consultation with a local lender.
• Ready Reserve Overdraft protection line of credit for individual consumers that automatically advances $100 increments when account balance falls below zero, with a $25 annual fee and low monthly payments of $25 or 5% of unpaid balance; no prepayment penalty and no maturity date.
• Small Business Loans Financing solutions for small businesses ranging from sole proprietors through cooperatives to support small business growth and operations.
• Small Business Lines of Credit Flexible credit access for small and medium businesses for unexpected expenses, ongoing projects, or major purchases for business operations.
• SBA Loans Lending solutions for small and medium businesses through the U.S. Small Business Administration for growing or expanding businesses.
• Commercial Loans Business financing for businesses of all sizes including business term loans, commercial lines of credit, commercial real estate loans, and equipment or vehicle financing for business expansion and operations.
• Equipment Financing & Leasing Financing or refinancing for businesses for new and used equipment with up to 100% financing and terms from 12 to 84 months.
• Accounts Receivable Financing (Business Manager)
• Ag Lines of Credit Revolving or non-revolving credit lines for farmers and agribusiness operators to even out cash flow beyond one business cycle for farming operations.
• Ag Real Estate Loans Loans for farmers and agribusiness owners for purchasing neighboring farms, adding acreage, improving or building processing facilities, or consolidating existing debt.
• Machinery and Equipment Financing
• Livestock Loans
• Farm Service Agency (FSA) Loans
• Rural Finance Authority (RFA) Loans
• Online & Mobile Banking
• Mobile Deposit
• Bill Pay
• eStatements
• Account Alerts
• P2P (Person-to-Person) Payments
• Text Banking
• Voice Banking
• Touch ID & Face ID Authentication
• Debit Card Lock/Unlock
• Cash Management

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Farm Service Agency (FSA) - USDAcoreStrategic or Co-development PartnerStar Bank offers FSA guaranteed loans through the Farm Service Agency, a branch of the US Department of Agriculture. FSA guarantees enable Star Bank to provide loans they may not otherwise be able to offer, including Farm Ownership, Operation, and Operating Lines of Credit. Borrowers benefit from advantageous loan conditions while working directly with a local Star Bank lender.
• Rural Finance Authority (RFA) - Minnesota Department of AgriculturecoreStrategic or Co-development PartnerRFA is a program through the Minnesota Department of Agriculture created to partner with banks to develop the state's agricultural industry through low-interest loan programs. Star Bank offers these RFA loans to area farmers as part of their agricultural services.
• Business Manager (Accounts Receivable Financing)coreTechnology or IntegrationBusiness Manager is the accounts receivable financing solution offered by Star Bank, enabling businesses to turn receivables into working capital within 24 hours of generation. This provides immediate cash flow for seasonal demands, growth, or short-term needs.
• Stewart TitlesupportingTechnology or IntegrationApproved title company partner for construction lending transactions, one of several approved title companies in the Star Bank builder program.
• Bankers TitlesupportingTechnology or IntegrationApproved title company partner for construction lending transactions, one of several approved title companies in the Star Bank builder program.
• Land TitlesupportingTechnology or IntegrationApproved title company partner for construction lending transactions, one of several approved title companies in the Star Bank builder program.
• Trademark TitlesupportingTechnology or IntegrationApproved title company partner for construction lending transactions, one of several approved title companies in the Star Bank builder program.
• DTN (Progressive Farmer)supportingGTM or Marketing PartnerStar Bank provides DTN Progressive Farmer as a helpful farming resource, offering real-time weather updates, agriculture, energy, and commodity market information to their agricultural customers.
• FDIC (Federal Deposit Insurance Corporation)coreOthersStar Bank is FDIC-Insured, backed by the full faith and credit of the U.S. Government. All deposits are insured up to $250,000 per depositor.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bell Bank: Bell Bank is a Midwest community bank headquartered in Fargo with strong ag lending and a personal/business banking franchise across Minnesota and North Dakota. Closely comparable to Star Bank in ag specialization, community presence, and segment mix.
• Merchants Bank: Merchants Bank is a Minnesota community bank with branches in southern Minnesota and ag/business lending focus. Direct peer given shared Minnesota footprint, ag lending emphasis, and SME banking orientation.
• Bremer Bank: Bremer Bank is a Minnesota-headquartered community bank offering personal, business, and ag lending across the Twin Cities and greater Minnesota. Direct comparable to Star Bank in geography, segment mix (personal/business/ag), and community-bank operating model.
• Heartland Bank (MN): Heartland Bank is a Minnesota-based community bank serving personal and small business clients. Comparable to Star Bank on segment mix (personal/SME), regional Minnesota presence, and community-bank relationship model.
• First Bank & Trust: First Bank & Trust is a Midwest community bank offering personal, business, and ag lending across Minnesota and the Dakotas. Comparable to Star Bank in segment mix, ag specialization, and rural branch strategy.

Broad incumbents

• Old National Bank: Old National Bank is a multi-state Midwest regional bank (formerly KleinBank in Minnesota) offering personal, business, and commercial banking. Comparable on product mix but at materially larger scale and broader footprint than Star Bank.
• Associated Bank: Associated Bank is a larger Midwest regional bank with branches across Minnesota and full personal/business/ag banking. Overlaps Star Bank's segments but operates at much greater scale and geographic breadth.
• U.S. Bank: U.S. Bank is a large national bank with major presence in Minnesota, offering the full suite of consumer, commercial, and ag products. Comparable on segments served but operates at scale and geographic breadth that Star Bank cannot match.

Emerging players

• Chime: Chime is a leading U.S. digital/neobank focused on consumer deposit and P2P payments. Emerging competitor to Star Bank's consumer deposit franchise among younger, digitally native customers in the Twin Cities.
• Live Oak Bank: Live Oak Bank is a digital-first commercial and small business lender (SBA-heavy) operating nationally. Comparable on the small business and ag-adjacent lending vertical Star Bank serves, with a much different tech-led delivery model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Star Bank