What Flora Bank & Trust does

Flora Bank & Trust is a privately held, state-chartered community bank headquartered in Flora, Illinois, founded on January 19, 1978 to serve the financial needs of Flora and Clay County, Illinois. The bank operates two full-service branches (downtown Flora and the North Clay Banking Center in Louisville) and five surcharge-free ATMs, including locations inside the Clay County Hospital lobby, and holds a five-star rating from Bauer Financial Rating Service, indicating top-tier financial strength among U.S. banks.

The bank's product set spans a full retail and small-business banking suite: deposit products (First Reward Checking, Freedom Checking, NOW/Super NOW accounts, Liberty Investment Money Market, Passbook Savings, 182-day to 60-month CDs, and Traditional/Roth/Coverdell IRAs), lending products (fixed-rate and balloon mortgages, USDA-guaranteed loans, home construction loans, home equity, personal and consumer loans for vehicles/boats/RVs, farm loans, commercial loans, and Visa credit cards), and ancillary banking services (Overdraft Privilege up to $800, Mastercard-branded debit cards with 24/7 fraud support, online bill pay, e-statements, mobile deposit, and Quilo-powered automated personal-loan pre-approval). The technology architecture is a vendor-assembled stack — DCI (Data Center Inc.) for the core banking platform and TeleWeb internet banking, Fiserv for secure web infrastructure with 128-bit SSL encryption, and ProfitStars for iOS/Android mobile apps — with no proprietary AI/ML or API surface.

Flora Bank & Trust earns revenue primarily through net interest income on its loan portfolio (mortgages, farm, commercial, consumer) and deposit-funded asset deployment, supplemented by transaction-based deposit-account fees (NSF/overdraft at $31.97/item, stop payment at $34.97, dormant accounts at $10.00), Overdraft Privilege fees, and a joint-marketing arrangement with an independent registered broker/dealer. Go-to-market is community-led, relying on local physical presence, word-of-mouth, community partnerships (Flora Chamber of Commerce, Clay County Hospital), a Facebook presence, and online account opening for customer acquisition and retention, with all lending and underwriting decisions made locally.

Name

Flora Bank & Trust

Legal name

Flora Bank & Trust

Website

https://florabankandtrust.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

Flora Bank & Trust is a privately held community bank in Flora, Illinois, operating 2 branches and 5 surcharge-free ATMs to serve Clay County residents with deposit accounts, mortgages, farm and consumer loans, and digital banking since 1978.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

State Commercial Banks (6022)

akta.pro primary industry

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

Keywords

• Community banking services
• Deposit accounts
• Mortgage lending
• Farm commercial loans
• Digital banking

Headquarters

HQ city

Flora

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Deposit Account Fees: Fees assessed on checking accounts including returned item deposits ($5.00), stop payment orders ($34.97), dormant/inactive fees ($10.00), insufficient funds ($31.97/item/day), overdraft charges ($31.97/item/day), continuous overdraft fees ($10.97/day after 7 days), and replacement cards ($15.00). NOW and Super NOW accounts carry monthly service charges of $15.00 if balance falls below minimums.
2. Interest Income on Loans: The bank originates and services mortgage loans (fixed-rate, balloon, USDA), farm and commercial loans, personal and consumer loans, and credit cards. Interest income is earned on the loan portfolio. The bank retains servicing on mortgage loans, keeping payments local.
3. Interest-Bearing Deposit Account Revenue: NOW accounts, Super NOW accounts, Money Market accounts, Savings accounts, and CDs generate interest expense while the bank deploys these funds into its loan portfolio and investment securities to earn interest income.
4. Overdraft Privilege Service Fees: The bank offers discretionary overdraft coverage up to $800 on eligible checking accounts, with NSF/overdraft fees of $31.97 per item and a daily overdraft fee of $11.97 per day after 7 consecutive overdrawn days.
5. Joint Marketing with Financial Companies: Flora Bank & Trust engages in joint marketing arrangements with an independent registered broker/dealer, a formal agreement between non-affiliated financial companies to market financial products or services together.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Flora Bank & Trust is a community bank that provides deposit accounts (checking, savings, money market, NOW, CDs, IRAs), consumer and mortgage lending (fixed-rate, balloon, USDA), farm and commercial loans, and digital banking services to individuals, families, and small businesses in Flora and Clay County, Illinois. The bank also issues Visa credit cards and Mastercard-branded debit cards, and offers Overdraft Privilege coverage of up to $800 on eligible checking accounts. Operations are delivered through two physical branches, five ATMs, internet banking, and native mobile apps for iOS and Android.

Product overview

Flora Bank & Trust is a community bank offering a unified banking platform with multiple account products and digital banking services. The core banking products include checking accounts (First Reward Checking with up to 2.03% APY and Freedom Checking with no minimums), savings accounts, NOW/Money Market accounts, Certificates of Deposit (182 days to 60 months), and Individual Retirement Accounts (Traditional, Roth, and Coverdell). Loan products encompass mortgage loans (Fixed-Rate, Balloon, and USDA Guaranteed), home equity, personal loans, consumer loans for vehicles/boats/RVs, Visa credit cards, and farm/commercial loans. The bank operates a digital banking platform providing Internet Banking with bill pay and mobile deposit capture, Mobile Banking apps for iOS/Android with text banking, E-Statements, and Overdraft Privilege Service. Additional offerings include debit cards (Mastercard-branded) and financial calculators. The product portfolio functions as an integrated suite where customers can access traditional banking products through both physical branches and digital channels.

Differentiator

Problem solved

Functional benefit

Products and services

• First Reward Checking Interest-bearing checking account offering up to 2.03% APY on balances up to $20,000 with free ATM withdrawals nationwide (up to $20 per month refund), earned when monthly activity requirements are met.
• Freedom Checking Basic checking account with no minimum balance, no service charges, free ATM/debit card, free online banking, overdraft privilege for eligible accounts, and monthly imaged statements with canceled checks.
• NOW and Super NOW Accounts Interest-bearing checking accounts in two tiers (NOW at $1,000 minimum opening balance and Super NOW at $2,500) that pay higher interest than standard checking, with overdraft privilege options.
• Passbook Savings Accounts Traditional savings account with $50 minimum opening balance, quarterly interest compounding, FDIC insured, with fees for excess withdrawals and low balances.
• Liberty Investment Money Market Account Money market savings account with $2,500 minimum opening balance, $15 monthly service charge if balance falls below minimum, allowing 6 free debits per month with $1 fee per additional withdrawal.
• Certificates of Deposit (CDs) FDIC-insured term deposits with terms ranging from 182 days to 60 months, offering multiple interest payment options with rates subject to weekly changes.
• Individual Retirement Accounts (IRAs) Retirement savings accounts available in Traditional IRA, Roth IRA, and Coverdell Educational IRA variants to help customers plan for retirement.
• Fixed-Rate Real Estate Mortgages 30-year and shorter-term fixed-rate mortgages allowing customers to lock in their interest rate for the entire loan term with consistent monthly payments.
• Balloon Mortgages Balloon mortgages with initial fixed rates for 3, 5, or 10 years, after which the rate adjusts to current market rates with flexible payment due dates and amortization periods.
• USDA Guaranteed Loans Government-backed first-time home buyer loans financing up to 100% of purchase price plus closing costs, structured as 30-year fixed-rate loans for qualified buyers without down payment requirements.
• Home Construction Loans Flexible financing options for custom home building, purchasing homes needing major renovation, or renovating existing homes.
• Personal Loans Unsecured loans for unexpected expenses like home repairs or car repairs, with fixed monthly payments and lower APR options for debt consolidation.
• Powered by Quilo Personal Loans Automated pre-approval system for personal loans that provides quick decisions without affecting credit scores until an actual loan is taken.
• Consumer Loans (Vehicles, Boats, RVs) Secured loans for vehicle purchases (cars, trucks, SUVs, vans), boats, RVs, and recreational vehicles including 4-wheelers.
• Visa Credit Cards Credit card products offering personal and business options with choices between cash back, points accumulation, or low Annual Percentage Rate structures.
• Farm Loans Agricultural lending products covering farmland purchases, farm equipment financing, farm building construction, and seasonal operating needs.
• Commercial Loans Business lending products including commercial real estate financing, operating lines of credit, inventory financing, and business acquisition support.
• Internet Banking Online banking platform providing 24/7 access to account management, bill payment, fund transfers, mobile deposit capture, custom alerts, loan calculators, statement viewing, and transaction history with export capabilities to Quicken and Microsoft Money.
• Mobile Banking Mobile banking application for Android and Apple devices enabling account access, balance viewing, transfers, loan payments, and mobile deposits, plus text message banking for quick balance checks.
• Online Bill Pay Single-point bill management service integrated with online banking, enabling one-time and scheduled recurring bill payments, electronic bill receiving, and email notifications.
• E-Statements Electronic bank statement delivery accessible via online and mobile banking, providing up to 12 months of statements with immediate availability upon production.
• Overdraft Privilege Service Discretionary overdraft coverage up to $800 for eligible checking accounts, paying occasional overdrafts up to the assigned limit to avoid returned check fees and merchant charges.
• Debit Bank Card (Mastercard-branded) Mastercard-branded debit card enabling point-of-sale purchases, online shopping, ATM withdrawals, and ACH services, with 24/7 fraud department and lost/stolen card assistance.

Quantifiable outcome

• Five-star Bauer Financial rating — the highest rating awarded by the service, indicating Flora Bank & Trust is one of the strongest banks in the country.
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Fiserv, Inc.coreTechnology or IntegrationFiserv provides Flora Bank & Trust's secure website infrastructure. The Fiserv platform supports 128-bit SSL encryption and public key cryptography for all online banking sessions. Fiserv's server infrastructure handles all web-based banking transactions and session protection for the bank's website.
• DCI (Data Center Inc.)coreTechnology or IntegrationDCI provides the core banking platform infrastructure for Flora Bank & Trust. The bank's online banking login portal (telepc.net/fbandtbank/) and many digital banking tools (calculators, loan applications) are powered by DCI's TeleWeb platform.
• MasterCardcoreTechnology or IntegrationFlora Bank & Trust's debit cards operate on the MasterCard network, providing cardholders with the ability to make purchases at any merchant accepting MasterCard, use ATMs globally, and access retail, restaurant, online, ACH, and card authorization services.
• Independent, Registered Broker/Dealer (Joint Marketing Partner)minorGTM or Marketing PartnerFlora Bank & Trust has a joint marketing agreement with an independent, registered broker/dealer as part of its non-affiliate joint marketing efforts. This formal agreement between non-affiliated financial companies markets financial products or services to consumers.
• Clay County HospitalminorChannel Partner/ Reseller/ DistributorFlora Bank & Trust maintains an ATM in the Clay County Hospital lobby (911 Stacey Burk Dr, Flora), providing banking access to hospital visitors, staff, and patients as a distribution channel hosted within a third-party facility.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• INB (Illinois National Bank): Springfield, Illinois-based community and commercial bank. Comparable as a regional incumbent operating community-banking branches and loan products (mortgages, business, ag) in downstate Illinois markets overlapping Flora's geography.
• Busey Bank: Champaign, Illinois-headquartered regional bank with community-banking, mortgage, and ag-lending franchises across Illinois and adjacent states. Comparable as a larger incumbent with similar consumer/SME deposit products, local decision-making tradition, and rural Illinois footprint.
• First Mid-Illinois Bancshares (First Mid Bank & Trust): Illinois-based bank holding company with full-service community and commercial banking across central Illinois. Comparable as a regional acquirer/operator of community banks like Flora Bank & Trust, with overlapping deposit, mortgage, and ag-lending products and Bauer-rated franchise quality.

Direct peers

• First Financial Bank of Illinois: Illinois community bank with consumer and business deposit accounts, mortgages, and ag lending. Comparable as a similarly sized community bank operating in adjacent Illinois counties with overlapping deposit, mortgage, and farm-loan products.
• Heartland Bank and Trust Company: Central Illinois community bank with deposit accounts, mortgages, ag lending, and digital banking. Closely comparable in product mix and community-banking GTM, and operates in adjacent rural Illinois counties where Flora competes for the same household and farm customers.
• Dieterich Bank: Dieterich, Illinois-headquartered community bank offering deposit accounts, mortgages, farm and commercial loans, and digital banking. Closely comparable as a same-size rural Illinois community bank with similar ag-lending focus and customer profile.
• Town & Country Bancorp / Town & Country Bank: Illinois-based community bank holding company with branches across central and southern Illinois. Comparable in scale, branch count, and product offering (deposits, mortgages, ag and commercial lending) to Flora Bank & Trust, and is a credible roll-up acquirer of community charters in the same geography.
• Morton Community Bank: Morton, Illinois-based community bank offering consumer checking/savings, mortgages, ag and commercial loans, and digital banking services. Comparable as a same-size/same-region community bank with similar product depth and community-driven model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• Facebookfacebook.com/florabankandtrust
• LinkedInlinkedin.com/company/fbandtbank

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 Flora Bank & Trust