Savings Bank

What Savings Bank does

Savings Bank is a privately-held community bank founded in 1894 (originally as Primghar Savings Bank, renamed in June 2002) and headquartered in Primghar, Iowa. The bank operates three branches across Northwest Iowa — Primghar (headquarters, 185 S Green Avenue), Hartley (80 S. Central Avenue, opened 2002), and Lake Park (1487 135th Ave., opened 2007) — and serves three customer segments: individual consumers in the local community, local businesses of any size, and agricultural producers / farmers, the latter being a long-standing specialty tied to its rural Midwest roots.

The product portfolio spans three core lines: (1) Personal Banking — checking accounts (NOW Checking, Super NOW Checking), savings (Passbook, Christmas Club, HSA, Money Market), CDs (6–24 month terms), IRAs (Traditional, Roth, Simple), debit cards (EMV chip), and Visa-branded access/prepaid cards; (2) Business Banking — business checking, business money market accounts (MMI, Super MMI, Jumbo MMI, Mega MMI), remote deposit capture, ACH services, and wire transfers ($20 domestic / $30 international outgoing); and (3) Lending — personal/auto loans (including ATVs, boats, RVs), home loans (fixed-rate, portfolio ARMs, HELOC), business loans (term, LOC, commercial real estate, SBA-backed), and agricultural loans (revolving LOC, equipment, livestock, farmland real estate). A suite of 16 online financial calculators covers mortgage, loan, investment, retirement, college savings, and budgeting scenarios.

The technology stack is standard community banking infrastructure: online banking is delivered via a FundsXpress gateway (gateway.fundsxpress.com), the mobile app is published under the Apiture xpressmobile / SBPIA package on iOS and Android, debit cards operate on the Shazam Privileged Status ATM network, and card processing and prepaid/gift card products run on Visa rails; web hosting and accessibility (WCAG 2.0 AA) are handled by VGM Forbin. Revenue is generated primarily through net interest income on the loan portfolio (consumer, business, agricultural, and mortgage), supplemented by tiered monthly service charges on deposit accounts, per-check fees on business and NOW checking above defined thresholds, wire transfer fees ($20/$30), interchange and card services revenue, and minor auxiliary fees. The bank's stated differentiators are local decision-making, relationship-based service, and ag-lending specialization in a low-competition rural market.

Name

Savings Bank

Legal name

Savings Bank

Website

https://savingsbankia.com

Company type

Private

Founded year

1894

Operating status

Operating

Headcount range

1–10 employees

Short description

Savings Bank is a privately-held community bank founded in 1894, operating three branches in Northwest Iowa (Primghar, Hartley, Lake Park). It provides personal banking, business banking, and lending — including agricultural loans — to local consumers, businesses, and farmers.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (522110)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community banking services
• Consumer loan products
• Agricultural lending services
• Business banking services
• Retail deposit accounts

Headquarters

HQ city

Primghar

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The bank generates revenue primarily through interest income on various loan products including personal loans, auto loans, home loans, business loans, and agricultural loans. Interest rates vary by product type with fixed-rate mortgages, adjustable-rate portfolio loans, home equity products, and term loans offered.
2. Deposit Account Fees: Monthly service charges and per-check fees on checking and savings accounts, with fee waivers for higher balance tiers. Business checking accounts charge $0.10 per check over 40 checks and monthly maintenance fees based on average balance.
3. Wire Transfer Fees: Fees charged for wire transfer services including $20 for domestic outgoing wires and $30 for international outgoing wires. Incoming wires are provided at no fee.
4. Card Services: Debit card services with fee-free access at Savings Bank ATMs and Shazam Privileged Status network ATMs.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Savings Bank is a community bank in Northwest Iowa providing personal banking (checking, savings, CDs, IRAs, debit and access cards), business banking (deposit accounts, remote deposit, ACH and wire services), and consumer/commercial/agricultural lending through three physical branches and online and mobile banking channels. The bank generates revenue primarily from net interest income on its loan portfolio and fee-based deposit account, wire transfer, and card services.

Product overview

Savings Bank is a community bank offering a unified suite of banking and lending products through three physical branch locations in Northwest Iowa. The core product portfolio spans Personal Banking (checking, savings, CDs, IRAs, debit cards, access/gift cards), Business Banking (deposit accounts, remote deposit, wire services, ACH), and Lending (personal/auto, home, business, and agricultural loans). A complementary suite of 16 financial calculators enables customers to plan for mortgage, loan, investment, retirement, education, and savings decisions. All products and services are accessible through traditional branch banking, online banking via FundsXpress gateway, and mobile banking applications for Apple and Android devices.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Personal NOW Checking and Super NOW Checking accounts with variable interest, balance-tiered monthly maintenance fees, per-check fees above threshold, and senior citizen benefits. Minimum daily balance of $1,000 for NOW and $2,500 for Super NOW waives service charges.
• Savings Accounts Personal savings vehicles including Passbook Savings, Christmas Club Savings, Health Savings Accounts (HSA), and Money Market Accounts with tiered interest rates and balance requirements. Free online banking and direct deposit.
• CDs & IRAs Certificates of Deposit with terms from 6 to 24 months requiring $500 minimum deposit, FDIC-secured up to $250,000 per individual with guaranteed yields at full maturity. Retirement accounts include Traditional IRA, Roth IRA, and Simple IRA.
• Online Banking 24/7 web-based account management via the FundsXpress gateway for enrolled customers. Features include balance viewing, transaction history, internal and external transfers, bill pay, E-Statements enrollment, and online account access.
• Mobile Banking Mobile banking applications for Apple iOS and Android devices requiring online banking enrollment. Features include account access, Mobile Deposit (up to $10,000 daily, max 3 checks per day), internal transfers, and bill payment.
• Access Cards Visa gift cards and convenient access Visa prepaid cards issued through a partnership with Visa, used for gifting, budgeting, or online shopping without requiring a checking account.
• Debit Cards EMV chip-enabled debit cards linked to checking accounts for point-of-sale purchases and ATM withdrawals. Fee-free access at Savings Bank ATMs and at any Shazam Privileged Status network ATM.
• Business Deposit Accounts Business checking and money market accounts including Regular Checking, MMI, Super MMI, Jumbo MMI, and Mega MMI accounts with tiered monthly maintenance fees based on average monthly balance. Variable interest paid quarterly on MMI tiers.
• Remote Deposit Capture Desktop scanner and software installed at business customer locations enabling check scanning and remote deposit upload, with funds typically available next business day.
• Wire Services Domestic and international wire transfer services for incoming and outgoing transactions. Incoming wires provided at no fee; outgoing domestic wires $20 and outgoing international wires $30, with most transactions completed the next business day.
• ACH Services Automated Clearing House services for businesses including direct deposit payroll, vendor payments, and expense reimbursements processed electronically.
• Personal & Auto Loans Installment and consumer loans financing vehicles (cars, trucks, SUVs, ATVs, boats, RVs), home improvements, vacations, and other personal needs. Rates set per individual borrower.
• Home Loans Mortgage products including Fixed-Rate Mortgages, Portfolio Loans (Adjustable-Rate Mortgages), Home Equity Loans, and Home Equity Lines of Credit (HELOC) for purchase, refinance, and home equity borrowing needs.
• Business Loans Business financing including Term Loans for equipment and inventory, Lines of Credit for seasonal fluctuations, Commercial Real Estate Loans, and SBA loans offered through partnership with the U.S. Small Business Administration.
• Ag Loans Agricultural lending for Midwest farmers including Revolving Lines of Credit for seasonal cash flow management, Equipment Loans for tractors and machinery, Livestock Loans for feeder or breeding livestock, and Real Estate Loans for purchasing acreage and farm facilities.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Two partnerships are on record, tiered minor and core.

• Small Business Administration (SBA)minorStrategic or Co-development PartnerSavings Bank partners with the Small Business Administration to offer SBA loans designed to help new and existing businesses access financing.
• FDICcoreOthersThe Federal Deposit Insurance Corporation provides deposit insurance up to $250,000 per depositor, protecting customer deposits at Savings Bank.

Scale indicators4 records

Recent moves8 records

Expansion highlights3 records

Direct peers

• Iowa State Bank: Iowa-based community bank offering consumer deposits, business banking, and ag lending across small-town markets — directly comparable to Savings Bank in scale, product mix, and rural Iowa footprint.
• Bank Iowa: Iowa-headquartered community bank with strong agricultural lending franchise and branch network across small communities — directly comparable in ag specialization and community banking model, though larger in scale.
• Hills Bank and Trust Company: Iowa-based community bank and trust company serving individuals and businesses in small/medium Iowa markets — comparable in full-service community banking model, deposit products, and lending focus.
• West Bank: Iowa-based community bank offering consumer, business, and mortgage banking across multiple branches — comparable in product breadth and Iowa community bank positioning, though at greater scale.
• MidWestOne Bank: Midwestern community bank with strong Iowa presence offering commercial, ag, and consumer banking — comparable in ag lending focus and community bank model, larger in scale and footprint.
• Great Southern Bank: Community bank serving small and mid-sized communities with consumer, business, and ag lending — comparable as a traditional relationship-based community bank with ag specialization, though serving different geographies.

Broad incumbents

• Heartland Financial USA (HTLF): Regional bank holding company operating community banks across the Midwest and Southwest — overlaps with Savings Bank's community banking and ag lending focus but operates as a multi-chapter consolidator at substantially greater scale.
• Pathward Financial (formerly MetaBank): Midwest-headquartered bank with roots in small-town Iowa/South Dakota banking — historically a comparable small community bank, now operating as a broader specialty/fintech-focused bank holding company.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/SavingsBankIA

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Savings Bank