21st Century Bank
21st Century Bank is a family-owned community bank in Minnesota offering SBA lending, commercial and consumer banking, and cash management to small/mid-size businesses, nonprofits, professionals, and individuals across the Twin Cities metro and Northwest Wisconsin, with over $880 million in total assets.
- Company typePrivate
- Founded1917
- HeadquartersMinneapolis, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What 21st Century Bank does
21st Century Bank is a privately held, family-owned community bank headquartered in Ham Lake, Minnesota, operating under continuous Dolphin-family ownership since the late 1970s and tracing its origin to Farmer's State Bank of Cedar (founded 1917). The bank delivers a full suite of commercial and consumer banking products through 8 full-service branches across the Twin Cities metro and 2 loan production offices in Burnsville and Lexington/Blaine, serving Minnesota and Northwest Wisconsin.
The commercial franchise is anchored by SBA lending — SBA 7(a), 504, and Express programs — where the bank holds Preferred Lender Program status and has been ranked #1 in Minnesota for SBA 504 Third Party Lending in multiple years (2018-2021, 2023, 2024). Adjacent commercial offerings include conventional term loans, business lines of credit, equipment financing, commercial real estate loans, practice loans for healthcare and professional services, investment property loans, and a Residential Development & Home Building vertical. Deposit products span three business checking tiers (Commercial, Business, Non-Profit), savings and tiered money market accounts; the consumer side offers personal checking/savings, CDs, IRAs, HSAs, personal loans, HELOCs, and credit cards. Cash management services include ACH origination, remote deposits, wire transfers, sweep services, and merchant card processing.
The technology stack is conventional community-banking infrastructure: a Jack Henry & Associates-powered mobile banking app (iOS/Android) and NetTeller online banking, with credit card issuance through Elan Financial Services and check printing via Deluxe. Distribution is relationship-led via a dedicated business development team serving SMBs, entrepreneurs, nonprofits, professional practices, real estate investors, and residential developers across the Twin Cities. The bank reports total assets exceeding $880 million, 51-100 employees, and no disclosed revenue, funding rounds, or PE/VC ownership.
21st Century Bank firmographics
Firmographics- Name
- 21st Century Bank
- Legal name
- 21st Century Bank
- Website
- https://21stcb.com
- Company type
- Private
- Founded year
- 1917
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- 21st Century Bank is a family-owned community bank in Minnesota offering SBA lending, commercial and consumer banking, and cash management to small/mid-size businesses, nonprofits, professionals, and individuals across the Twin Cities metro and Northwest Wisconsin, with over $880 million in total assets.
- Ownership category
- akta.pro rank
Where 21st Century Bank is headquartered
LocationHeadquarters
- HQ city
- Minneapolis
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
21st Century Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Net Interest Income: Interest earned on loan portfolio including SBA loans, conventional business loans, commercial real estate loans, personal loans, and home equity lines of credit. Interest paid on deposits including checking, savings, money market accounts, CDs, and IRAs.
- Service Fees and Charges: Monthly service fees on checking and savings accounts (e.g., $12 commercial checking, $10-$12 business checking monthly fees), overdraft fees, wire transfer fees, and activity-based charges.
- SBA Loan Origination Fees: Packaging fees and origination fees on SBA 7(a) and 504 loans. Borrower pays SBA guarantee fee to the SBA and origination fees to the bank.
- Credit Card Interchange: Revenue from business and personal credit card processing through partnership with Elan Financial Services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | 21st Commercial Checking - No minimum balance, activity-based pricing |
| Subscription | Monthly | 21st Business Checking - $500 minimum balance |
| Subscription | Monthly | 21st Non-Profit Checking - $500 minimum or $5,000 combined |
| Subscription | Monthly | 21st Business Savings - $200 minimum balance |
| Subscription | Monthly | 21st Preferred Money Market - Tiered rates |
| Subscription | Monthly | 21st Essential Personal Checking - No minimum balance |
| Subscription | Monthly | 21st Enhanced Personal Checking - $500 minimum |
| Subscription | Monthly | Personal Savings - Multiple tiers |
| One time/ perpetual license | Pay-as-you-go | Personal Loans - Fixed rate, flexible terms |
| Usage-based | Pay-as-you-go | HELOC - Variable rate, flexible access |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
21st Century Bank product offering
Product offeringCore offering
21st Century Bank is a family-owned community bank that provides deposit products (business and personal checking, savings, money market, CDs, IRAs, HSAs), lending solutions (SBA 7(a), 504, Express loans, conventional business loans, practice loans, investment property loans, personal loans, HELOCs), cash management services, mobile and online banking, and credit cards to small and medium-sized businesses, nonprofits, professional practices, real estate developers, and individual consumers across Minnesota and Northwest Wisconsin.
Product overview
21st Century Bank is a family-owned community bank offering a comprehensive suite of banking products and services for businesses, nonprofits, and individuals in Minnesota. The bank's business banking offerings center around three checking products (21st Commercial Checking, 21st Business Checking, and 21st Non-Profit Checking) combined with savings and money market accounts, complemented by lending solutions including SBA 7(a), SBA 504, and SBA Express loan programs, Conventional Business Loans, Practice Loans, Investment Property Loans, and Equipment Financing. Cash Management Services provide businesses with online/mobile banking, remote deposits, ACH payments, wire transfers, merchant card processing, and sweep services. For personal banking, the bank offers Essential and Enhanced checking and savings accounts, Preferred Money Market accounts, Certificates of Deposit, IRAs, Health Savings Accounts, Personal Loans, Home Equity Lines of Credit, and Personal Credit Cards. The bank operates a mobile banking app with Remote Deposit Anywhere functionality and supports Apple Pay and Google Pay mobile wallets. The bank's total assets exceed $880 million with branches throughout the Minneapolis-Twin Cities area.
Differentiator
Problem solved
Functional benefit
Products and services
- 21st Commercial Checking Business checking account with no minimum balance requirement, $100 opening deposit, and activity-based fees including $0.25 per deposit, $0.15 per debit/check, $0.10 per check deposited. Earnings credit is applied towards service fees. Designed for businesses with varying transaction volumes.
- 21st Business Checking Business checking account requiring $500 minimum balance with 25 free deposits and 50 free debits per month. Charges $10 monthly service fee if minimum balance not maintained. Designed for small to mid-sized businesses with predictable monthly banking activity.
- 21st Non-Profit Checking Checking account designed for nonprofit organizations with $500 minimum balance or $5,000 combined balance requirement. Features tiered interest rates with interest compounded daily and paid monthly. Charges $5.00 service fee if minimum balance not maintained.
- 21st Business Savings Business savings account requiring $200 minimum daily balance to earn interest, with $200 opening deposit and nine free debits per quarter. Charges $9 quarterly service fee if balance falls below $200. Interest compounded daily, paid quarterly.
- 21st Business Preferred Money Market Commercial money market account with tiered interest rates starting at 0.10% APY for $0.01-$24,999, 0.25% APY for $25,000-$99,999, 0.90% APY for $100,000-$499,999, and 1.30% APY for $500,000+. No opening balance requirement and charges $13 monthly fee if balance below $5,000. Limit 6 withdrawals per month.
- SBA 7(a) Loan Program SBA loan program funding startup costs, equipment, working capital, and real estate up to $5 million. Offers most flexible and longest-term loans with 10-25 year terms. Available to small businesses through the bank's SBA Preferred Lender status.
- SBA 504 Loan Program SBA loan program for expanding or modernizing small businesses. Maximum debenture of $5 million with structure of 50% bank, 40% SBA, and 10% borrower contribution. Long-term, fixed-rate financing for owner-occupied commercial real estate and major equipment purchases.
- SBA Express Loan Program Working capital lines of credit for manufacturing, wholesale, services, and retail businesses. Used to finance inventory and accounts receivable through the SBA Express program with expedited turnaround.
- Conventional Business Loans Traditional term loans with fixed interest rates for specific business purposes including expansion, operations investment, and capital structure streamlining. Designed for established businesses seeking non-SBA financing.
- Business Lines of Credit Flexible credit access allowing businesses to pay interest only on funds used. Designed for managing cash flow gaps, unexpected expenses, and short-term working capital needs.
- Equipment Financing Long-term financing options for purchasing new equipment, vehicles, or capital expenditures to support business growth and operational needs.
- Commercial Real Estate Loans
Quantifiable outcome
- #1 MN SBA 504 Third Party Lender 2024 (total project dollars)
- +4 more outcomes
Companies that use 21st Century Bank
Customer profileNamed customers15 records
Segments6 records
Ideal customer profiles6 records
21st Century Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
21st Century Bank partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Jack Henry & AssociatescoreJack Henry & Associates is the primary licensor for 21st Century Bank's mobile banking service. Their technology powers the bank's mobile banking platform.
- Card Processorcore21st Century Bank has partnered with a secure processor to offer advanced payment processing technology for merchant credit card payments with Visa, MasterCard, American Express, and Discover.
- Hope 4 YouthminorCommunity partnership with nonprofit focused on youth housing, outreach, prevention, education, and employment. Bank provides financial support and volunteer hours.
- Neighbors Inc.minorCommunity partnership with nonprofit connecting volunteers to people in need and transforming communities. Bank provides donations and volunteer support.
- CROSS ServicesminorCommunity partnership providing food market, Senior Food Deliveries, Mobile Food Pantries, Nutrition Assistance Programs for Seniors, Meals on Wheels, and FOODRx programs.
- Every MealminorCommunity partnership fighting child hunger through donated non-perishable food bags delivered to schools and community centers throughout the metro area.
- WeCANminorCommunity partnership empowering individuals and families to reach stability and self-sufficiency through human services.
- Monticello Help CenterminorCommunity partnership providing supplemental food, clothing, and household items through various programs.
- People Serving PeopleminorCommunity partnership - largest emergency shelter for families experiencing homelessness in Minnesota.
- Stepping StoneminorCommunity partnership providing emergency housing for adults 18+ with goal of helping residents retain permanent residence.
- City of Lorettominor21st Century Bank has served the city of Loretto for 20+ years, acquiring the Loretto State Bank branch in 2004.
Scale indicators5 records
Recent moves13 records
Expansion highlights6 records
21st Century Bank competitors and assessment
Company assessmentDirect peers
- Bell Bank: Employee-owned Upper Midwest community bank with roughly similar asset size range, full personal/business banking suite, and SBA lending capabilities; comparable as a family/employee-owned alternative to big-bank SMB relationships in the Twin Cities-adjacent geographies.
- First International Bank & Trust: Family/employee-owned community bank serving Minnesota, North Dakota, and the broader Upper Midwest with personal, business, and SBA-style lending; comparable in operating philosophy, deposit gathering, and commercial lending focus to community businesses in shared regional markets.
- Nicolet National Bank: Wisconsin-headquartered community bank with growing Twin Cities presence; directly competes for SBA, commercial, and CRE lending in the same NW Wisconsin/Minneapolis corridor where 21st Century Bank operates, with overlapping segment focus on SMB and middle-market commercial banking.
- Cornerstone Bank: Minnesota-based community bank offering a comparable commercial and consumer banking product set to SMBs and individuals across the Twin Cities; similar scale and product breadth make it a near-substitute for relationship-based community banking clients in overlapping MN geographies.
- Stearns Bank: Minnesota-based, family-influenced community bank with comparable SBA lending focus and commercial/personal banking mix across roughly the same Twin Cities and greater Minnesota footprint; directly comparable in size range, niche, and SMB orientation.
- Bremer Bank: Established Minnesota-headquartered community bank serving SMBs, nonprofits, and consumers across the Twin Cities and broader MN/WI/ND footprint; overlapping customer segments (small business, nonprofit, agricultural) and competitive for the same relationship-based banking clients in the Minneapolis market.
Broad incumbents
- Huntington Bancshares: Large regional commercial bank with a Midwest-heavy footprint that competes for the same small business, SBA, and consumer banking clients 21st Century Bank targets in Minnesota; broader incumbents with overlapping product suite (commercial loans, cash management, SBA) competing on relationship banking.
- Old National Bank: Large community/commercial bank with significant Twin Cities and broader Midwest footprint following recent acquisitions; offers the full suite of personal, business, SBA, and CRE lending products that 21st Century Bank specializes in, but at substantially larger scale and across a wider geographic territory.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
21st Century Bank social profiles
Digital presence21st Century Bank compliance and trust
Trust signalCompliance3 records
21st Century Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
21st Century Bank leadership team
Management profileNumber of profiles
Profiles10 records
21st Century Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
21st Century Bank 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 21st Century Bank
What does 21st Century Bank do?
21st Century Bank is a family-owned community bank that provides deposit products (business and personal checking, savings, money market, CDs, IRAs, HSAs), lending solutions (SBA 7(a), 504, Express loans, conventional business loans, practice loans, investment property loans, personal loans, HELOCs), cash management services, mobile and online banking, and credit cards to small and medium-sized businesses, nonprofits, professional practices, real estate developers, and individual consumers across Minnesota and Northwest Wisconsin.
Is 21st Century Bank a public or private company?
21st Century Bank is a private company. It is classified as family owned and is currently operating.
When was 21st Century Bank founded?
21st Century Bank was founded in 1917. It employs 51 to 100 people.
Where is 21st Century Bank based?
21st Century Bank is headquartered in Minneapolis, United States, in the North America region.
How does 21st Century Bank make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are service Fees and Charges, SBA Loan Origination Fees and credit Card Interchange.
Who are 21st Century Bank's main competitors?
Direct peers on record are Bell Bank, First International Bank & Trust, Nicolet National Bank, Cornerstone Bank, Stearns Bank and Bremer Bank. Broad incumbents are Huntington Bancshares and Old National Bank.
Does 21st Century Bank have an API?
No public API is recorded for 21st Century Bank.