Iowa Trust & Savings Bank

What Iowa Trust & Savings Bank does

Iowa Trust & Savings Bank is a privately held, state-chartered community bank headquartered in Emmetsburg, Iowa, operating four branch locations across the state (Emmetsburg, Panora, Clive in the Des Moines metro, and Sac City). Founded in 1929 by J.A. Spies and now managed by the Spies-family-aligned leadership team under Chairman John A. Spies and CEO Kris Ausborn (since 2004), the bank serves retail consumers and small-to-mid-sized businesses with particular emphasis on agricultural lending, multi-generational farm families, and rural Iowa communities. It manages approximately $550 million in total assets and serves over 900 local businesses alongside a long-standing retail deposit and consumer lending base.

The bank's product platform spans full-service personal banking (checking, savings, High Yield Savings at 3.70% APY, CDs/IRAs, mortgage and construction loans, personal loans, credit/debit cards, CDARS) and business banking (business checking/savings, commercial loans, SBA loans, agriculture loans, treasury management, merchant services, Insured Cash Sweep). Digital delivery is built on Fiserv infrastructure — mobile and online banking, mobile deposit capture (with $2,000 per-item and $2,500 daily limits), Zelle P2P payments, and digital wallet tokenization across Apple Pay, Google Pay, Samsung Pay, Garmin Pay, and Amazon One. A 2026 capital project at Emmetsburg is adding an Interactive Teller Machine alongside upgraded drive-up lanes and night depository. Cybersecurity and fraud tools include Positive Pay, ACH Positive Pay, and a USA PATRIOT Act-compliant identity verification framework; deposits are FDIC-insured.

Revenue is generated through a traditional community bank spread model — net interest income from commercial, agricultural, mortgage, consumer, and credit card lending net of deposit interest expense — supplemented by non-interest income from deposit service charges, wire and overdraft fees, merchant services processing, and referral fees on CDARS/ICS interbank deposit placements. The go-to-market motion is relationship-driven and in-person: loan officers and ag lenders engage customers directly at branches and in the field, supported by community sponsorships, financial-literacy content marketing, and earned media (three consecutive Iowa Top Workplace awards, Robert D. Dixon Founders Award to the CEO). No public funding, M&A, or external investor activity is disclosed, and the bank operates as an independent, locally governed institution.

Name

Iowa Trust & Savings Bank

Legal name

Iowa Trust & Savings Bank

Website

https://iowatrustbank.com

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

11–50 employees

Short description

Iowa Trust & Savings Bank is a privately held, state-chartered Iowa community bank founded in 1929, operating four branches across Emmetsburg, Panora, Clive, and Sac City. It provides personal, business, and agricultural banking services on a Fiserv-powered digital platform, managing approximately $550 million in assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

akta.pro secondary industries

Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), Deposit Operations (Account Maintenance, Fees, Reconciliations) (FSABALAE)

Keywords

• Community banking services
• Agricultural lending
• Commercial banking
• Personal banking products
• Treasury management solutions

Headquarters

HQ city

Emmetsburg

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: The primary revenue driver for a community bank. Iowa Trust earns interest income on its loan portfolio (commercial loans, agricultural loans, mortgage loans, personal loans, credit cards) and invests deposits in securities and other interest-bearing assets. This is a spread-based model where the bank earns the difference between interest collected on loans and interest paid on deposits.
2. Non-Interest Income (Fees and Service Charges): Fee income from deposit accounts (monthly service fees where applicable), wire transfer fees, overdraft fees, ATM fees, credit card transaction fees from merchant services, treasury management fees, and late payment fees. Mobile deposit, Zelle, and e-statements are provided at no charge, while services like notary, money orders, and check reordering generate nominal or free revenue.
3. Insured Cash Sweep (ICS) and CDARS: Iowa Trust offers CDARS (Certificate of Deposit Account Registry Service) and ICS deposit placement services, which allow customers to access FDIC insurance beyond the $250,000 limit by spreading deposits across multiple participating banks. The bank earns a referral fee or spread on these interbank deposit placements.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Iowa Trust & Savings Bank is a community bank delivering personal and business banking services through four Iowa branches and a Fiserv-powered digital platform. Its offerings span deposit accounts (checking, savings, HYSA, CDs/IRAs), lending (mortgage, construction, commercial, agriculture, personal), treasury management, merchant services, and digital banking features including Zelle, mobile deposit, and digital wallets. Local decision-making authority and a relationship-based service model for personal, agricultural, and small business customers across Emmetsburg, Panora, Clive, and Sac City anchor the franchise.

Product overview

Iowa Trust & Savings Bank is a community bank offering a unified banking platform with personal and business banking services. Personal Banking includes checking, savings, High Yield Savings (3.70% APY), CDs/IRAs, credit/debit cards, personal loans, mortgage loans, construction loans, and CDARS. Business Banking encompasses business checking, savings, commercial loans, agriculture loans, treasury management, merchant services, and Insured Cash Sweep. Online Services layer includes Online Banking, Mobile Deposit, Bill Pay, e-Statements, Zelle, and Digital Wallet (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Amazon One). The bank also offers specialty programs like the Statesman's Club for customers 55+ and provides Financial Calculators for planning. Services are delivered through four Iowa branch locations with full online/mobile banking access.

Differentiator

Problem solved

Functional benefit

Brands

• Statesman's Club: A membership program for customers ages 55 and better, offering special programs and free services including personal membership cards, free or reduced price checks, free personal money orders, free notary service, and social activities.

Products and services

• Personal Banking Comprehensive personal banking services including checking, savings, credit cards, debit cards, personal loans, mortgage loans, CDs/IRAs, and specialty accounts like HSAs and CDARS, targeted at individual consumers.
• Business Banking Business-focused banking services including business checking, savings, commercial loans, agriculture loans, treasury management, merchant services, and insured cash sweep products, designed for local businesses across Iowa.
• High Yield Savings Account (HYSA) Savings account earning 3.70% APY (effective 1/18/2026) with no daily balance requirements, no minimum deposit, and no monthly service fees. Interest compounded and credited monthly. FDIC insured up to $250,000.
• Mortgage Loans Home loan products including fixed-rate mortgages, adjustable-rate mortgages, refinancing, new construction loans, home equity loans, and home equity lines of credit for personal borrowers.
• Construction Loans Financing for custom home building with a phased draw process, competitive rates, transparent terms, and local expertise for construction projects.
• Commercial Loans Business lending products including working capital, expansion financing, capital investment, debt refinancing, inventory financing, term loans, lines of credit, commercial real estate loans, SBA loans, and equipment financing for small and mid-sized businesses.
• Agriculture Loans Ag lending services including operating lines of credit, livestock loans, equipment loans, farmland real estate loans, and facility real estate loans with competitive variable or fixed rates for farm operations and multi-generational farm families.
• Treasury Management Business cash management services including business online banking, ACH services, wire transfers, remote deposit capture, sweeps, cash concentration, and fraud prevention tools (Positive Pay, ACH Positive Pay).
• Merchant Services Payment processing solutions for businesses offering multiple payment types (contactless, keyed, credit, debit) via partnership with Professional Solutions, including contactless chip terminals at no additional cost.
• CDARS Certificate of Deposit Account Registry Service providing FDIC insurance coverage beyond the standard $250,000 limit by distributing deposits across multiple participating banks.
• Insured Cash Sweep Business deposit service that automatically distributes deposits into FDIC-insured amounts across multiple institutions, protecting deposits beyond standard insurance limits.
• Statesman's Club Membership program for customers age 55+ with $1,500 minimum balance in checking or CD, offering free/reduced-price checks, free personal money orders, free notary service, photocopies, laminates, and social activities.
• Online Banking 24/7 internet banking platform enabling account access, transaction viewing, transfers, loan payments, statement access, check copies, and bill payment services.
• Mobile Deposit Mobile banking feature allowing check deposits via smartphone camera with daily mobile capture limit of $2,500 and per-check limit of $2,000. Fiserv-powered with a 3:00pm CST same-day cutoff.
• Zelle P2P Payments Peer-to-peer payment service integrated with online banking enabling instant money transfers to friends and family using email or U.S. mobile number, with no fees charged by the bank.
• Bill Pay Online bill payment service enabling one-time payments, scheduled future payments, recurring payments, and e-bill delivery from participating companies through the Check Free platform.
• e-Statements Electronic statement delivery system providing secure on-demand access to account statements with email notifications for personal and business customers.
• Digital Wallet Mobile payment capability supporting Apple Pay, Google Pay, Samsung Pay, Garmin Pay, and Amazon One for contactless checkout using Iowa Trust debit cards.

Quantifiable outcome

• 3.70% APY High Yield Savings — higher than traditional savings accounts
• +4 more outcomes

Named customers5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature7 records

Partnerships

Two partnerships are on record, tiered core.

• Professional SolutionscoreTechnology or IntegrationIowa Trust has partnered with Professional Solutions to offer credit card and payment processing services to business customers. Professional Solutions provides state-of-the-art contactless chip terminals at no additional cost, low transparent rates, no hidden fees, fast setup, 24/7 technical support, and processing for debit, check, gift cards, mobile, and contactless payments. Iowa Trust acts as an affinity/introducing partner, tailoring merchant service packages to business customers' needs.
• Fiserv, Inc.coreTechnology or IntegrationFiserv powers Iowa Trust's mobile banking app and the Mobile Deposit Service. The partnership provides the technology infrastructure for online banking, mobile check deposit, account management, and digital wallet integration. The Privacy Policy and Mobile Deposit Terms explicitly reference Fiserv as the third-party service provider powering the bank's digital platforms.

Scale indicators6 records

Recent moves7 records

Expansion highlights3 records

Broad incumbents

• Heartland Financial USA / Dubuque Bank and Trust: Multi-state community banking franchise with Iowa roots (Dubuque Bank and Trust). Operates the same community-banking playbook at significantly larger scale, providing both direct competition and a relevant M&A comparable.
• MidWestOne Bank: Iowa-headquartered regional bank offering community and commercial banking across the Midwest. Overlaps significantly with Iowa Trust's services but operates at much larger scale and broader geography.
• Great Western Bank: Regional bank with significant Iowa and Midwest presence offering personal, business, and ag banking. Competes with Iowa Trust in similar SMB and farm customer segments but with substantially broader scale and product set.

Direct peers

• Two Rivers Bank & Trust: Iowa-based community bank serving retail and commercial customers in rural Iowa markets. Comparable product set (deposits, ag lending, treasury management) and similar relationship-driven GTM model.
• Hills Bank and Trust Company: Iowa-headquartered community bank offering similar personal and business banking, ag lending, and treasury services across eastern Iowa. Comparable in operating model (relationship-based community banking) though larger in asset base.
• United Bank of Iowa: Iowa community bank offering commercial, ag, and consumer lending with relationship-based service. Comparable in size and customer profile to Iowa Trust, operating in similar Iowa rural markets.
• Town & Country Bank (Iowa): Iowa-based community bank with branches across central and western Iowa, offering commercial and ag lending alongside consumer banking. Directly comparable in geography, scale, and customer profile.
• Liberty National Bank (Iowa): Iowa-headquartered community bank with full personal and commercial banking services, including ag lending. Directly comparable in target market (Iowa SMBs and farm families) and product offering.
• BankIowa: Iowa-based community bank with multi-branch presence serving personal and commercial customers, including agricultural lending. Closely comparable in target customer (Iowa SMBs and farm families) and product set.
• First National Bank of Muscatine: Iowa community bank with multi-generational family ownership and operation, serving Muscatine and surrounding agricultural markets. Comparable in scale, customer mix, and community-banking orientation.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/Iowa-Trust-Savings-Bank-1916062758717417
• LinkedInlinkedin.com/company/iowa-trust

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iowa Trust & Savings Bank