Central State Bank
Central State Bank is a family-owned Iowa community bank, founded in 1942 and operated by the Haesemeyer family across four generations, providing personal, business, and agricultural banking services through three central Iowa branches in State Center, Ames, and West Des Moines.
- Company typePrivate
- Founded1942
- HeadquartersState Center, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Central State Bank does
Central State Bank is a family-owned community bank headquartered in State Center, Iowa, founded in 1942 by Wilfred "Bill" Haesemeyer through the merger of First National Bank and the original Central State Bank (established 1901). The bank operates three physical branch locations — State Center (headquarters), Ames (opened 2019 at Somerset Village), and West Des Moines (opened 2022) — serving central Iowa communities with personal, small-to-mid-size business, and agricultural banking customers. Ownership has remained within the Haesemeyer family across four generations, with no external institutional investors, and the bank is regulated as an FDIC-insured institution, Equal Housing Lender, and USA PATRIOT Act-compliant entity.
The bank's product portfolio spans core deposit accounts (free and interest-bearing checking, savings, money market, certificates of deposit), retirement accounts (Traditional, Roth, and SEP IRAs), consumer and commercial lending (auto, mortgage, home equity, agriculture, commercial, and personal loans), and business banking services (commercial checking, business analysis accounts, remote deposit capture, online cash management, and merchant services). Technology infrastructure is built primarily on third-party platforms: Banno powers the online and mobile banking experience with iOS and Android applications, SHAZAM provides the Privileged Status ATM network and Falcon fraud detection, and Elan Financial Services issues Visa and Mastercard credit cards. Digital wallet support (Apple Pay, Google Pay, Samsung Pay), mobile remote deposit capture, electronic signature disclosure, and a 24/7 telephone banking line round out the digital service layer.
Revenue is generated primarily through the net interest spread on loans and deposits, supplemented by deposit account fees (overdraft at $25, NSF at $25, wire transfers at $25 outgoing / $7.50 incoming, stop payment at $25), credit card interchange via the Elan partnership, safe deposit box rentals, and ancillary service charges. Deposit products are competitively priced — CDs range from 3.02% to 4.04% APY across terms from 6 months to 5 years, NOW Elite Checking offers 2.50% APY on balances up to $100,000, and money market products offer up to 3.25% APY at higher tiers. The go-to-market motion is relationship-based, driven by local loan officers with on-site decision authority, complemented by digital channels including the website, Facebook presence, and 24/7 telephone banking. No revenue figures, total assets, or financial performance metrics are publicly disclosed.
Central State Bank firmographics
Firmographics- Name
- Central State Bank
- Legal name
- Central State Bank
- Website
- https://centralstatebankia.com
- Company type
- Private
- Founded year
- 1942
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Central State Bank is a family-owned Iowa community bank, founded in 1942 and operated by the Haesemeyer family across four generations, providing personal, business, and agricultural banking services through three central Iowa branches in State Center, Ames, and West Des Moines.
- Ownership category
- akta.pro rank
Central State Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industry
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where Central State Bank is headquartered
LocationHeadquarters
- HQ city
- State Center
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Central State Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income from Lending: Primary revenue stream from interest earned on loans including auto loans, mortgages, commercial loans, agriculture loans, home equity loans, and personal loans. Fixed and variable rate products with competitive pricing.
- Deposit Account Fees: Fee income from overdraft charges ($25 per item), NSF fees ($25 per presentment), wire transfers ($25 outgoing, $7.50 incoming), stop payments ($25), and account research ($10 per hour).
- Credit Card Interchange: Revenue from credit card transactions through partnership with Elan Financial Services. Cards issued under Visa and Mastercard licenses.
- Deposit Interest Spread: Revenue from spread between interest paid on deposits (savings, NOW accounts, money market, CDs) and interest earned on loans. Interest rates vary by product type and balance tier.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Certificate of Deposit 6-Month: 3.48% APY, $1,500 minimum opening |
| Subscription | Multi-year contract | Certificate of Deposit 12-Month: 3.58% APY, $1,500 minimum opening |
| Subscription | Multi-year contract | CD Special 9-Month: 3.94% APY, $1,500 minimum |
| Subscription | Multi-year contract | CD Special 15-Month: 4.04% APY, $1,500 minimum |
| Subscription | Monthly | NOW Elite Checking: 2.50% APY up to $100,000 |
| Unit Pricing | Annual | Safe Deposit Box 5x5: $17.00 annually |
| Transaction based/ take rate | Pay-as-you-go | Overdraft/NSF Fee: $25.00 per item |
| Transaction based/ take rate | Pay-as-you-go | Wire Transfer Outgoing: $25.00 |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Central State Bank product offering
Product offeringCore offering
Central State Bank is a family-owned community bank headquartered in State Center, Iowa, providing FDIC-insured personal and business banking products and lending services. Offerings span deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial loans (auto, mortgage, home equity, agriculture, personal, commercial), business banking services (commercial checking, remote deposit capture, online cash management, merchant services), and digital banking channels (online and mobile banking with digital wallet support).
Product overview
Central State Bank is a family-owned Iowa community bank offering a comprehensive suite of personal and business banking products. The portfolio includes core deposit products (checking, savings, money market accounts, and CDs), retirement accounts (Traditional, Roth, and SEP IRAs), and lending services (auto, agriculture, home equity, mortgage, personal, and commercial loans). Business banking encompasses commercial checking, business analysis accounts, and merchant services. Digital banking features include online and mobile banking with bill pay, e-statements, remote deposit capture, and online cash management. The bank also offers specialized services like safe deposit boxes, wire and ACH services, night deposits, notary services, and fraud protection through SHAZAM/Brella. The bank operates three physical locations in Iowa (State Center, Ames, and West Des Moines) and has been serving the community since 1942.
Differentiator
Problem solved
Functional benefit
Products and services
- Free Checking Account
- NOW Account
- NOW Elite Checking
- Regular Savings Account
- Youth Savings Account
- Lil Trojan Club
- CSB Money Market
- Senior Money Market
- Certificates of Deposit (CDs)
- Traditional IRA
- Roth IRA
- SEP IRA
- Commercial Checking Account
- Business Analysis Account
- Business Money Market Account
- Commercial Loans
- Agriculture Loans
- Auto Loans
- Mortgage Loans
- Home Equity Loans
- Personal Loans
- Debit Card
- Elan Personal Credit Cards
- Business Credit Cards
- Merchant Credit Card Services
- Safe Deposit Boxes
Quantifiable outcome
- Certificate of Deposit rates up to 4.04% APY for 15-month terms
- +2 more outcomes
Companies that use Central State Bank
Customer profileSegments4 records
Ideal customer profiles4 records
Central State Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature4 records
Central State Bank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Elan Financial ServicescorePartnership for credit card issuance and processing. Elan Financial Services issues both Visa and Mastercard credit cards for Central State Bank customers. Provides zero fraud liability protection and 24/7 cardmember service. Supports personal and business credit card programs.
- SHAZAMcoreSHAZAM Privileged Status program membership enabling surcharge-free ATM withdrawals at thousands of locations throughout Iowa and the Midwest. Also provides Falcon Fraud Detection for debit card protection.
- BannocoreDigital banking platform provider powering Central State Bank's online and mobile banking infrastructure. Created by Banno, a digital banking solutions company.
Scale indicators4 records
Recent moves8 records
Expansion highlights5 records
Central State Bank competitors and assessment
Company assessmentDirect peers
- West Bank: Iowa-based community bank headquartered in West Des Moines — one of Central State Bank's existing branch markets — offering consumer, business, and mortgage lending. Directly comparable as a same-market community bank competitor with overlapping deposit and small-business banking products.
- Hills Bank and Trust Company: Family-owned Iowa community bank headquartered in Hills, Iowa, with a comparable branch network and full suite of personal, business, and ag lending products. Closely comparable to Central State Bank in ownership structure (family-owned), Iowa geography, and community-bank product mix.
- Pella State Bank: Small Iowa community bank offering personal, business, and ag banking in central/south-central Iowa. Comparable to Central State Bank in size, product mix, Iowa focus, and small-town community-banking positioning.
- Grinnell State Bank: Iowa-based community bank providing deposit, consumer, and ag lending products in central Iowa. Directly comparable to Central State Bank in market overlap, community-bank scale, and full-service personal/business/ag product suite.
- Bank Iowa: Iowa-headquartered community bank with a multi-branch network serving consumer, small business, and agricultural customers across the state. Closely comparable to Central State Bank in market (Iowa), product mix (deposits, ag loans, consumer lending), and relationship-driven community banking model.
- United Bank of Iowa: Iowa community bank serving consumer, agricultural, and small business customers across western and central Iowa. Closely comparable to Central State Bank in Iowa community-banking focus, agricultural lending expertise, and branch-based relationship model.
Emerging players
- GreenState Credit Union: Iowa-based large credit union serving consumer and business members throughout central Iowa, including the same markets Central State Bank operates in. Comparable as a deposit-and-lending competitor in overlapping central Iowa geographies, though organized as a credit union rather than a bank.
- First Bank (Iowa): Iowa- and community-focused bank offering personal, business, and ag lending across central Iowa markets. Comparable to Central State Bank in Iowa footprint and community-bank product offerings, with some overlap in target customers.
Broad incumbents
- MidWestOne Financial Group: Iowa-headquartered bank holding company with community bank charters across the Midwest, including commercial, ag, and consumer banking. Comparable to Central State Bank in core community-banking activities, but meaningfully larger and more geographically diversified.
- Heartland Bank (Heartland Financial USA): Midwest-headquartered bank holding company (now part of HTLF/UMB combined entity) operating community banks across the Midwest including Iowa. Overlaps with Central State Bank in ag lending, small business banking, and consumer deposits across central Iowa communities, but at significantly greater scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Central State Bank social profiles
Digital presenceCentral State Bank compliance and trust
Trust signalCompliance3 records
Central State Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Central State Bank leadership team
Management profileNumber of profiles
Profiles6 records
Central State Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Central State 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 Central State Bank
What does Central State Bank do?
Central State Bank is a family-owned community bank headquartered in State Center, Iowa, providing FDIC-insured personal and business banking products and lending services. Offerings span deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial loans (auto, mortgage, home equity, agriculture, personal, commercial), business banking services (commercial checking, remote deposit capture, online cash management, merchant services), and digital banking channels (online and mobile banking with digital wallet support).
Is Central State Bank a public or private company?
Central State Bank is a private company. It is classified as family owned and is currently operating.
When was Central State Bank founded?
Central State Bank was founded in 1942. It employs 11 to 50 people.
Where is Central State Bank based?
Central State Bank is headquartered in State Center, United States, in the North America region.
How does Central State Bank make money?
Four revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Account Fees, credit Card Interchange and deposit Interest Spread.
Who are Central State Bank's main competitors?
Direct peers on record are West Bank, Hills Bank and Trust Company, Pella State Bank, Grinnell State Bank, Bank Iowa and United Bank of Iowa. Emerging players are GreenState Credit Union and First Bank (Iowa). Broad incumbents are MidWestOne Financial Group and Heartland Bank (Heartland Financial USA).
Does Central State Bank have an API?
No public API is recorded for Central State Bank.
What industry is Central State Bank in?
Central State Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 52211 and its SIC code is 6022.