NXT Bancorporation
Heartland Bank and Trust Company, the operating subsidiary of NXT Bancorporation, is a privately held community bank founded in 1920, operating 86 branches across Illinois, eastern Iowa, and Missouri, serving consumers, businesses, farmers, and high-net-worth individuals with full-service banking, lending, and wealth management.
- Company typePrivate
- Founded1920
- HeadquartersCentral City, United States
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What NXT Bancorporation does
Heartland Bank and Trust Company, the operating subsidiary of NXT Bancorporation, is a privately held community bank founded in 1920 in Bloomington, Illinois. The bank traces its origins to the Drake family's settlement in central Illinois in 1852 and operates a three-state footprint of 86 branch locations serving 65 communities across Illinois, eastern Iowa, and Missouri. It was ranked #1 on Forbes' 2026 America's Best Banks List.
The bank offers a horizontally diversified product platform spanning four business units: Personal Banking (checking, savings, CDs, credit cards, mortgages, personal loans), Business Banking (checking, credit cards, treasury services, merchant services, commercial loans), Agricultural Services (agricultural loans, crop insurance, farm management, farmland appraisals, farmland sales, seed plot results), and Wealth Management (financial planning, portfolio management, fiduciary advisory, business retirement plan services). Digital access is provided through an online banking portal, a Heartland Bank mobile application on iOS and Android, Business Connect for commercial customers, and Remote Deposits for electronic check capture.
The business model is a traditional community banking revenue structure: net interest income from deposits and loans (consumer, mortgage, commercial, agricultural), fee income from treasury and merchant services, and advisory fees from wealth management and fiduciary services. The bank is FDIC-insured and designated as an Equal Housing Lender. The company is led by President and CEO Lance Carter, and no parent company, holding entity, or institutional investor ownership is disclosed.
NXT Bancorporation firmographics
Firmographics- Name
- NXT Bancorporation
- Legal name
- Heartland Bank and Trust Company
- Website
- https://nxtbank.net
- Company type
- Private
- Founded year
- 1920
- Operating status
- Operating
- Short description
- Heartland Bank and Trust Company, the operating subsidiary of NXT Bancorporation, is a privately held community bank founded in 1920, operating 86 branches across Illinois, eastern Iowa, and Missouri, serving consumers, businesses, farmers, and high-net-worth individuals with full-service banking, lending, and wealth management.
- Ownership category
- akta.pro rank
NXT Bancorporation 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)
Keywords
Where NXT Bancorporation is headquartered
LocationHeadquarters
- HQ city
- Central City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NXT Bancorporation business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Distribution channels3 records
Marketing channels6 records
NXT Bancorporation product offering
Product offeringCore offering
NXT Bancorporation operates as a community banking institution through Heartland Bank and Trust Company, offering full-service personal, business, agricultural, and wealth management banking products. The bank serves 65 communities across Illinois, eastern Iowa, and Missouri from 86 branch locations, complemented by digital banking channels including online banking and a mobile banking application. Revenue is generated primarily through interest income on loans and deposit-related service fees across consumer, commercial, and agricultural lending activities.
Product overview
NXT Bancorporation operates as a community banking institution through its Heartland Bank and Trust Company subsidiary, offering a unified banking platform with multiple product lines. The core offerings include Personal Banking (checking, savings, CDs, credit cards, mortgages, loans), Business Banking (checking, credit cards, treasury services, merchant services, commercial loans), and Agricultural Services (specialized loans, crop insurance, farm management, farmland appraisals and sales). Wealth Management provides financial planning, portfolio management, fiduciary advisory, and business retirement plan services. Digital access is enabled through Online Banking, a Mobile Banking App, Business Connect, and Remote Deposits. Additional services include debit cards, overdraft services, and fraud alerts. The company operates 86 branch locations across Illinois, eastern Iowa, and Missouri, ranked #1 on Forbes' 2026 America's Best Banks List.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Banking
- Business Banking
- Agricultural Services
- Wealth Management
- Treasury Services
- Merchant Services
- Online Banking
- Heartland Bank Mobile Banking App
- Remote Deposits
Quantifiable outcome
- Ranked #1 on Forbes' 2026 America's Best Banks List
Companies that use NXT Bancorporation
Customer profileSegments4 records
Ideal customer profiles4 records
NXT Bancorporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
NXT Bancorporation partnerships and signals
Strategic signalScale indicators4 records
Recent moves5 records
Expansion highlights4 records
NXT Bancorporation competitors and assessment
Company assessmentDirect peers
- Wintrust Financial: Chicago-area community bank holding company operating multiple community bank charters across the Midwest with personal, business, and wealth offerings. Comparable regional community-banking operating model and multi-product strategy.
- Commerce Bank: Midwest-headquartered community bank with consumer, business, and wealth management offerings across Missouri and surrounding states. Comparable in scale, geography, and full-service community banking orientation.
- Old National Bank: Midwest regional bank offering consumer, commercial, and wealth services across multiple states. Comparable scale, multi-channel distribution, and diversified product mix focused on heartland markets.
- Busey Bank: Illinois-based community bank with a similar multi-product platform (personal, business, wealth, ag) and comparable footprint across central Illinois. Closest peer given overlapping geography, product mix, and community-banking model.
- Byline Bank: Chicago-based community bank serving small businesses and consumers across the Midwest. Comparable community-bank model with similar personal and business lending focus.
- First Financial Bank: Midwest and Texas-based community bank with consumer, business, and wealth offerings. Comparable diversified mid-size community bank with similar regional footprint.
- Great Southern Bank: Midwest-and-southern regional bank focused on community banking, business banking, and wealth services. Comparable scale and product breadth in adjacent heartland markets.
- QCR Holdings: Midwest bank holding company operating community bank charters across Illinois, Iowa, Missouri, and Wisconsin. Comparable scale, footprint, and community-bank product strategy.
- UMB Bank: Midwest regional bank with consumer, commercial, and wealth management services headquartered in Kansas City. Overlaps Heartland on footprint, customer segments, and relationship-banking model.
Broad incumbents
- Huntington Bancshares: Super-regional bank with broad consumer, commercial, and wealth offering across the Midwest. Represents the larger incumbent the bank competes against for deposits and lending relationships in overlapping geographies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
NXT Bancorporation social profiles
Digital presenceNXT Bancorporation compliance and trust
Trust signalCompliance2 records
NXT Bancorporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
NXT Bancorporation leadership team
Management profileNumber of profiles
Profiles1 record
NXT Bancorporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NXT Bancorporation 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 NXT Bancorporation
What does NXT Bancorporation do?
NXT Bancorporation operates as a community banking institution through Heartland Bank and Trust Company, offering full-service personal, business, agricultural, and wealth management banking products. The bank serves 65 communities across Illinois, eastern Iowa, and Missouri from 86 branch locations, complemented by digital banking channels including online banking and a mobile banking application. Revenue is generated primarily through interest income on loans and deposit-related service fees across consumer, commercial, and agricultural lending activities.
Is NXT Bancorporation a public or private company?
NXT Bancorporation is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NXT Bancorporation founded?
NXT Bancorporation was founded in 1920.
Where is NXT Bancorporation based?
NXT Bancorporation is headquartered in Central City, United States, in the North America region.
Who are NXT Bancorporation's main competitors?
Direct peers on record are Wintrust Financial, Commerce Bank, Old National Bank, Busey Bank, Byline Bank, First Financial Bank, Great Southern Bank, QCR Holdings and UMB Bank. Huntington Bancshares is listed as a broad incumbent.
Does NXT Bancorporation have an API?
No public API is recorded for NXT Bancorporation.
What industry is NXT Bancorporation in?
NXT Bancorporation's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.