Clear Lake Bank & Trust

What Clear Lake Bank & Trust does

Clear Lake Bank & Trust Company is a privately-held, FDIC-insured Iowa state-chartered community bank founded in 1934 and headquartered in Clear Lake, Iowa, serving individuals, families, small businesses, and agricultural operations across three communities in north-central Iowa (Clear Lake, Mason City via two offices, and Garner) through four physical branches. The bank offers a full suite of personal banking products (checking, savings, CDs, HSAs, IRAs, debit and credit cards, mortgages, and personal loans) and business banking products (business checking, treasury management, business loans, SBA loans, and agricultural loans), supplemented by trust and wealth management services and an affiliate insurance agency (CLB&T Insurance Agency).

Revenue is generated primarily through net interest income on the loan portfolio (mortgages, commercial, agricultural, consumer) funded by deposits, with secondary streams from deposit account and overdraft fees, loan origination fees, trust and wealth management fees, insurance agency commissions, and credit card interchange via a third-party partnership. GTM is direct-to-consumer and relationship-based, anchored by local decision-making, dedicated loan and trust officers, and community engagement (United Way Top 5 Giver recognition).

The underlying technology stack is industry-standard rather than differentiated: a digital banking platform with iOS/Android mobile apps (online banking, mobile check deposit, P2P payments, bill pay), digital wallet support (Apple Pay, Google Pay, Samsung Wallet), a 24/7 voice-activated telephone banking service, and a partner-based fraud detection system. Online account opening and credit card origination are routed through vendor portals. The bank employs 101-250 staff and reports no parent company, venture, or private equity ownership; the Hewitt family has led the institution since 1973.

Name

Clear Lake Bank & Trust

Legal name

Clear Lake Bank and Trust Company

Website

https://clearlakebank.bank

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

101–250 employees

Short description

Clear Lake Bank & Trust is a privately-held Iowa community bank founded in 1934, operating four branches across Clear Lake, Mason City, and Garner to serve individuals, small businesses, and agricultural borrowers with deposit, loan, trust, and insurance products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking
• Personal banking services
• Business lending
• Agricultural loans
• Trust and wealth management

Headquarters

HQ city

Clear Lake

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loan portfolio including mortgages, personal loans, business loans, and agricultural loans. Interest rate spread between lending rates and deposit rates.
2. Deposit Account Fees: Fees from checking accounts, savings accounts, and other deposit products including overdraft fees, minimum balance fees, and service charges.
3. Loan Origination Fees: Fees collected on loan origination including mortgage loan fees, business loan fees, and agricultural loan fees.
4. Trust and Wealth Management Services: Revenue from trust services, estate planning, and investment management through dedicated trust officers.
5. Insurance Products: Commission revenue from CLB&T Insurance Agency offering home, business, auto, and other insurance products.
6. Credit Card Revenue: Interchange fees and interest income from credit card program administered through third-party partnership.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Clear Lake Bank & Trust is a community bank offering personal and business deposit accounts, consumer and commercial loans (mortgage, personal, business, agricultural, SBA), debit and credit cards, trust and wealth management services, and insurance products through its affiliated CLB&T Insurance Agency. Services are delivered through four physical branches in north-central Iowa and a digital banking platform including mobile apps, online banking, mobile deposit, person-to-person payments, and digital wallet support.

Product overview

Clear Lake Bank & Trust is a community bank offering a comprehensive suite of personal and business banking products and services through both physical branch locations and digital channels. The core banking platform includes personal checking and savings accounts, CDs, credit cards, and mortgage/personal loans, while the business banking suite encompasses business checking, business loans, SBA loans, and agriculture loans. Digital banking services are delivered through online banking, mobile banking apps (iOS/Android), and digital wallet integration (Apple Pay, Google Pay, Samsung Wallet). Additional products include trust and wealth management services, insurance products through CLB&T Insurance Agency, health savings accounts, and retirement accounts. The bank operates with a hub-and-spoke model from its main Clear Lake location with branches in Mason City (two offices) and Garner, serving communities in north-central Iowa.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Trusted by families for generations - multiple testimonials describing multi-generational banking relationships
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Small Business Administration (SBA)coreStrategic or Co-development PartnerClear Lake Bank & Trust is a preferred lender by the U.S. Small Business Administration, specializing in SBA loans to assist new and small business owners with financing. SBA loans offer greater flexibility for down payments and repayment terms.
• FDICcoreOthersFDIC-insured institution backed by the full faith and credit of the U.S. Government. Provides deposit insurance protection for customers.
• MasterCardcoreTechnology or IntegrationMasterCard debit and credit card program providing card products with fraud protection, extended warranty, price protection, and global service benefits.
• CLB&T Insurance and Financial Services Inc.coreOthersAffiliate company offering insurance products for home, business, auto, and other coverage. Commissions from insurance referrals represent revenue stream.
• Fraud CentercoreTechnology or IntegrationPartner for fraud detection and protection services. Provides automated fraud notifications via phone, email, and text when suspicious activity is detected on customer accounts.
• United Way of North Central IowaminorOthersCommunity partnership through annual fundraising campaign. CLB&T recognized as Top 5 Giver demonstrating community commitment.
• Joint Marketing Partners (Credit Card Companies)minorGTM or Marketing PartnerFormal agreements with credit card companies for joint marketing of financial products and services.

Scale indicators7 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• First Citizens National Bank: Community bank headquartered in Mason City, Iowa — directly competing in the same north-central Iowa market as CLB&T, with overlapping personal, business, and agricultural lending products and a similar relationship-based GTM.
• North Iowa Savings Bank: Iowa-chartered community bank operating in the Mason City / north-central Iowa region, offering deposit, lending, and ag products to similar consumer, small-business, and agricultural customers as CLB&T.

Regional players

• Bankers Trust Company: Iowa-based community bank headquartered in Des Moines, providing a comparable suite of personal, business, and wealth management services across the state, but at a larger scale and with a broader geographic footprint than CLB&T.
• GreenState Credit Union: Large Iowa-based credit union (and credit union-owned bank) serving consumers and businesses across Iowa and neighboring states with deposit, mortgage, and wealth products — an alternative to CLB&T for the same regional customers under a different charter model.
• United Bank of Iowa: Community bank serving western and north-central Iowa, with comparable personal, ag, and small-business banking products targeting similar rural and small-town customers as CLB&T.
• First National Bank of Muscatine: Eastern Iowa community bank offering personal, business, and ag lending with a similar community-banking value proposition, though operating in a different region of the state from CLB&T.

Broad incumbents

• Heartland Financial USA / Dubuque Bank and Trust: Multi-state bank holding company with Iowa roots (Dubuque Bank and Trust), offering community banking, ag lending, and wealth management across the Midwest and West — a scaled incumbent comparable to CLB&T's product mix and ag focus.
• MidwestOne Financial Group: Iowa-headquartered bank holding company with community bank subsidiaries across Iowa, Minnesota, and Wisconsin, providing similar personal, commercial, and ag banking services but at significantly greater scale than CLB&T.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/clbankandtrust
• Facebookfacebook.com/clearlakebank
• LinkedInlinkedin.com/company/clear-lake-bank-&-trust
• Instagraminstagram.com/clbankandtrust

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Clear Lake Bank & Trust