What United Prairie Bank does

United Prairie Bank is a privately held, family-owned community bank headquartered in Mankato, Minnesota, operating ten branches across southern and central Minnesota (Madison, Mankato, Mountain Lake, New Ulm, Owatonna, Spicer, Waseca, Wilmont, Windom, Worthington). The institution traces its charter to Farmers State Bank of Mountain Lake (founded 1919) and was acquired by James G. Sneer in 1973, with multi-bank charter consolidation under the United Prairie Bank name in 1992; the Sneer family retains ownership through three generations, supported by 125 employees. As of 2026 the bank holds approximately $925 million in total assets, up from $7.8 million at founding, and holds SBA Preferred Lender and FSA Preferred Lender (PLP) designations.

Name

United Prairie Bank

Legal name

United Prairie Bank

Website

https://unitedprairiebank.com

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

101–250 employees

Short description

United Prairie Bank is a family-owned Minnesota community bank operating 10 branches across southern and central Minnesota, offering personal, business, agricultural, and cannabis banking plus wealth and merchant services to roughly $925 million in assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Portfolio Management and Investment Advice (523940)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

akta.pro secondary industry

Student & Youth Banking (FSABAAAH)

Keywords

• Community banking services
• Agricultural lending
• Commercial loans
• Merchant services
• Wealth management

Headquarters

HQ city

Dawson

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on loans including agricultural loans, commercial loans, small business loans, real estate mortgages, consumer loans, and equipment financing.
2. Business Checking Account Fees: Monthly service charges, transaction fees, and paper statement fees across business checking account tiers (Ambassador, Endeavor, Venture, Enterprise).
3. Business Savings and Money Market Fees: Monthly service charges on business savings and money market accounts with waivers based on minimum balance requirements.
4. Overdraft and Insufficient Funds Fees: $35 per overdraft item charged when transactions exceed available balance. Maximum 6 fees ($210) per day. Additional fees for ProtectU Plus, ProtectU Sweep, and ProtectU LOC programs.
5. SBA and Commercial Loan Origination: Fees from SBA Preferred Lender status providing small business loans including SBA 7(a) loans and commercial real estate financing.
6. Merchant Services Revenue: Transaction fees from Clover POS payment processing services for business merchants including card acceptance and business management tools.
7. Investment and Wealth Management: Revenue from investment advisory services through PFG Advisors and securities offered through United Planners Financial Services, with service tiers from transactional to comprehensive wealth management.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

United Prairie Bank is a community bank offering deposit products (checking, savings, money market, CDs, IRAs, HSAs), lending products (mortgages, personal/auto, commercial, SBA, agricultural, equipment financing, cannabis business loans), digital banking (mobile, online, ITM live teller, Zelle), merchant services through Clover POS, and investment/wealth management services to personal, business, agricultural, and cannabis-related customers across southern and central Minnesota.

Product overview

United Prairie Bank offers a comprehensive suite of banking products organized as a platform-plus-modules architecture. Core offerings include personal and business deposit products (checking, savings, money market, CDs, IRAs), lending products (personal/auto loans, home mortgages, commercial loans, agricultural loans, equipment financing, cannabis banking), and digital banking services (online banking, mobile banking, Zelle P2P payments, ITM banking, Remote Deposit, Positive Pay). Supporting services include merchant services (Clover POS), investment/wealth management through PFG Advisors and United Planners, health savings accounts, and overdraft protection (ProtectU). The digital banking platform serves as the central access layer, with specialized services like credit cards (through Elan Financial Services), merchant processing, and investment services integrated through partnerships. The bank operates 10 locations in Minnesota and is family-owned since 1973.

Differentiator

Problem solved

Functional benefit

Brands

• ProtectU: Overdraft protection program including ProtectU, ProtectU Plus, ProtectU Sweep, and ProtectU LOC options for deposit account overdraft management.
• FutureGen Checking
• Fast Track Equipment Financing

Products and services

• Personal Checking, Savings, Money Market, CDs, and IRAs Personal deposit accounts including checking, savings, money market, Certificates of Deposit with custom terms, and Individual Retirement Accounts (Traditional and Roth) for individual consumers.
• Personal and Auto Loans, HELOC Personal loans including auto loans, recreational vehicle loans, RV/camper loans, savings-secured loans for credit building, and Home Equity Lines of Credit with variable rates for individual consumers.
• Home Mortgage Loans Mortgage banking services including home purchase financing, refinance loans, construction financing, first-time home buyer programs, and Lock and Shop program with dedicated local mortgage bankers.
• Personal Credit Cards Personal credit cards issued through Elan Financial Services with options for paying down balances, maximizing cash back, earning rewards, and building credit history for individual consumers.
• Business Checking Accounts (Ambassador, Endeavor, Venture, Enterprise) Tiered business checking accounts with transaction limits, monthly service charges, relationship balance refunds up to $100/month, and add-on capabilities including Remote Deposit, ACH/Wire Management, Positive Pay, and UChoose Debit Card Rewards. Built for SMBs, non-profits, and commercial enterprises.
• Business Savings, Money Market, and CDs Business deposit products including Business Growth checking, Business Success Money Market ($2,500 minimum to waive fee), Business Rise Money Market ($25,000 minimum), and Business CDs with custom terms and rates. Includes IntraFi deposits for multi-million-dollar FDIC coverage.
• Commercial Loans Business loans for expansion, development, equipment financing, commercial real estate, lines of credit, and SBA loans. Customized lending solutions for businesses at various stages of growth.
• Small Business Loans (SBA) SBA Preferred Lender loans and real estate loans for small businesses including SBA 7(a) loans, providing personalized service and faster approvals for small business financing needs.
• Agricultural Loans Agricultural financing including ag real estate loans, operating lines of credit, FSA loans (Preferred Lender), RFA loan programs, USDA loans, and Farmer Mac loans for farmers and agricultural operations in rural Minnesota.
• Fast Track Equipment Financing Equipment financing for commercial and agricultural equipment, machinery, and titled vehicles with up to 100% financing plus tax/title/license fees, terms up to 84 months, 24-hour approvals, and tiered APR pricing (6.20%-9.90%) based on credit score and loan amount.
• Business Credit Cards Business credit cards issued through Elan Financial Services with options including low rate, cash back, and flexible rewards; features include free online expense reporting, employee cards at no extra fee, mobile payments, and Zero Fraud Liability for business customers.
• Cannabis Banking Banking services for Cannabis-Related Businesses (CRBs) including checking, cash management, mobile/remote deposit, business lending, merchant services, cash processing, and wire/ACH payments. Supports dispensaries, cultivators, wholesalers, growers, and testing labs with state regulatory compliance expertise.
• Merchant Services (Clover POS) Point-of-sale payment processing for business merchants through the Clover partnership. Includes Clover Go, Flex, Mini, and Station Solo/Duo systems supporting EMV chip cards, Apple Pay, Google Pay, Samsung Pay, mobile loyalty programs, inventory management, and employee scheduling.
• Health Savings Accounts (HSA) Tax-advantaged savings accounts for individuals with HDHPs and employer-sponsored HSA programs with triple-tax advantage (pre-tax contributions, tax-deferred growth, tax-free withdrawals), payroll direct deposit integration, and dedicated HSA debit cards for employees.
• Investment Services (PFG Advisors / United Planners) Investment advisory and securities services through PFG Advisors and United Planners Financial Services. Includes retirement planning, wealth management, stocks/bonds/mutual funds, education planning, life insurance, estate planning, and employer plans, structured in four service tiers (Transactional, Bronze, Silver, Platinum).
• Business Online Payment Management (ACH, Wire, Bill Pay) Online cash management tools for businesses including ACH Manager for payroll, payments, and collections; Wire Manager for same-day and international transfers; and Online Bill Pay with same-day payment options for select billers.
• ITM (Interactive Teller Machine) Banking Interactive Teller Machines providing live video teller service during extended hours (Mon-Fri 7am-6pm, Sat 9am-noon), enabling deposits, withdrawals, check cashing, loan payments, bill exchange, and check ordering. Functions as a standard ATM 24/7 outside teller hours.
• Debit Cards with Mobile Wallet Support MasterCard debit cards accepted worldwide with MoneyPass ATM network access, UChoose Rewards, mobile wallet support (Apple Pay, Samsung Pay, Google Pay), mobile card management controls, and Two-Way Text Alerts (37268) fraud protection.
• Zelle P2P Payments Peer-to-peer payment service integrated into mobile and online banking that lets customers send and receive money directly between bank accounts. No fees, fast transfers in minutes, and enrollment by email or U.S. mobile number.
• Mobile Banking App and Online Banking Mobile banking app on iOS and Android plus comprehensive online banking portal. Features include account access, mobile deposit, transfers, bill pay, Zelle, debit card management, push alerts, eStatements, credit score viewing, personal finance manager with budgeting and goal setting, and business cash management.

Quantifiable outcome

• #1 Ag lender among Minnesota community banks
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Clover (Clover Network Inc.)coreTechnology or IntegrationUnited Prairie Bank has partnered with Clover to provide competitive merchant card services and point-of-sale systems to business clients. Clover POS systems (Go, Flex, Mini, Station Solo/Duo) enable merchants to accept various payment types including EMV chip cards, Apple Pay, Google Pay, and Samsung Pay.
• IntraFi (formerly CDARS/ICS)coreTechnology or IntegrationIntraFi deposits network provides multi-million-dollar FDIC insurance coverage through a network that allows customers to access insurance beyond standard $250,000 limits while maintaining single-bank convenience through United Prairie Bank.
• Zelle (Early Warning Services, LLC)coreTechnology or IntegrationZelle peer-to-peer payment service integrated into mobile and online banking, enabling customers to send and receive money directly between bank accounts with over 100 million enrolled users.
• MoneyPass ATM Network (Fiserv, Inc.)coreTechnology or IntegrationMoneyPass network provides surcharge-free ATM access for United Prairie customers at over 30,000 ATMs nationwide, with all United Prairie ATMs part of the MoneyPass network.
• PFG Advisors, LLCcoreStrategic or Co-development PartnerSEC registered investment advisor providing investment advisory services to United Prairie Bank customers through a service model with tiers from transactional to comprehensive wealth management.
• United Planners Financial ServicescoreChannel Partner/ Reseller/ DistributorFINRA/SIPC member broker-dealer offering securities through United Prairie Bank's investment services, providing access to stocks, bonds, and mutual funds.
• Minnesota Cannabis Growers Association (MCGCIC)minorGTM or Marketing PartnerTrade association membership supporting cannabis-related businesses with industry advocacy and networking opportunities.
• Minnesota Office of Cannabis Management (SotaCann)coreOthersState regulatory body providing licensing information, applications, and resources for cannabis-related businesses operating in Minnesota.
• Cannabis Industry Service PartnersminorGTM or Marketing PartnerReferral network of partners providing services including consulting, cash transportation, ATM provision, and cannabis industry advocacy for CRB customers.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Heartland Financial USA / HTLF: Multi-state community bank holding company operating across the Midwest and West with significant ag lending presence. Comparable in community banking philosophy and ag lending, though substantially larger and more geographically diversified than United Prairie.
• Bremer Bank: Largest Minnesota-headquartered community bank with deep ag and commercial lending roots across the Upper Midwest. Comparable due to its Minnesota community banking focus, ag lending heritage, and multi-generational client relationships, though significantly larger in scale.

Direct peers

• Bell Bank: Family-owned Upper Midwest community bank (headquartered in North Dakota/Minnesota) with a similar diversified product mix including ag, commercial, mortgage, and wealth management. Closely comparable in size range, employee-owned family culture, and regional ag lending orientation.
• Lake Area Bank: Minnesota-based community bank serving similar small-town and rural markets with ag, business, and personal banking services. Closely comparable in scale, branch network footprint, and customer demographic focus.
• First Bank & Trust (Minnesota): Minnesota community bank serving similar southern Minnesota markets with comparable ag, business, and retail banking products. Similar scale and customer profile including farmers, small businesses, and households in small communities.
• Merchants Bank (Minnesota): Family-owned Minnesota community bank with similar southern Minnesota presence, ag lending expertise, and SMB focus. Directly competes in same geographies (e.g., Winona, Red Wing, La Crescent) for ag and small business deposits and loans.
• Stearns Bank: Minnesota-headquartered community bank with a strong equipment financing and commercial lending focus, including ag and small business. Comparable in equipment financing product offering (similar to United Prairie's Fast Track program) and Minnesota community banking presence.
• Frandsen Bank & Trust: Minnesota-based community banking group with similar size, multi-branch footprint, and product suite spanning ag, commercial, and retail. Comparable in operating model and customer demographics across rural Minnesota markets.
• Profinium Financial: Minnesota-based community bank (formerly Profinium, Truman/Mankato) with comparable ag and commercial lending focus. Operates in similar southern/central Minnesota geography with overlapping customer segments including ag producers and small businesses.
• Bank Midwest: Community bank with strong ag and small business banking presence in the upper Midwest. Comparable in product mix, customer segments, and relationship-based community banking model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/united_prairie
• YouTubeyoutube.com/channel/UCFyIBgz5YUc3KaL9d7D_egg
• Facebookfacebook.com/unitedprairiemn
• LinkedInlinkedin.com/company/unitedprairie
• Instagraminstagram.com/united_prairie

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 United Prairie Bank