Bank of New Madrid

What Bank of New Madrid does

Bank of New Madrid is a privately held, family-controlled community bank incorporated in Missouri on August 15, 1934, serving Southeast Missouri through physical branches in New Madrid (headquarters), Lilbourn (closing in 2025), and Portageville, plus a Highway 61 ATM location. The bank offers a full suite of consumer and commercial banking products: personal and business checking, savings (including youth and student accounts), consumer loans, commercial loans, agricultural loans, real estate mortgages, Visa debit cards, gift and reloadable prepaid cards, wire transfers, safe deposit boxes, and Guardian Overdraft Privilege. Customer segments include individual consumers, small businesses, agricultural operators in New Madrid County, seniors (55+), and students (13-22). The bank is governed by a third-generation Hunter family leader (Sam L. Hunter III as CEO and Chairman, since 1995) and an eight-member board, with no parent company, no institutional investors, and no disclosed funding rounds.

The bank operates on a standard community-bank revenue model combining net interest income from lending (interest on consumer, commercial, agricultural, and real estate loans) with transaction and service fees (overdraft at $28, wire transfers $17-$100, safe deposit boxes $15-$70 annually, money orders, cashier checks, gift and reloadable card fees). Distribution is omnichannel: three branch locations with lobby and drive-thru service, an E-Banking online platform powered by FundsXpress Financial Network via the Apiture front end, iOS and Android mobile apps, and surcharge-free access to over 37,000 MoneyPass ATMs nationwide. The technology stack is fully outsourced to commodity banking vendors with no proprietary platform development.

Headcount has contracted from over 40 employees in 2006 to just over 30 across all locations, driven by digital efficiency rather than business decline. The bank holds FDIC membership and Equal Housing Lender certification, and actively publishes consumer education content on fraud prevention. No M&A, no funding events, no IPO, and no expansion into new geographies are disclosed; the dominant recent operational action is the announced closure of the Lilbourn branch in May 2025.

Name

Bank of New Madrid

Legal name

Bank of New Madrid

Website

https://bankofnewmadrid.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

11–50 employees

Short description

Bank of New Madrid is a privately held, family-owned community bank founded in 1934, serving Southeast Missouri residents, small businesses, and agricultural operators through branches in New Madrid, Lilbourn, and Portageville, with personal, commercial, agricultural, and real estate lending, deposit accounts, debit cards, and digital banking via mobile and online channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

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

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• Consumer lending products
• Agricultural loans
• Deposit accounts
• Mobile banking

Headquarters

HQ city

New Madrid

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Revenue generated from interest on loans including consumer loans, commercial loans, agricultural loans, and real estate mortgages.
2. Deposit Account Fees: Monthly service charges, insufficient funds fees ($28), overdraft fees ($28), dormant account fees ($6), wire transfer fees ($17-$100), and account research fees ($20/hour).
3. Card Services: Gift card sales ($3.95 initial cost), reloadable card fees ($3 initial + $2.50 reload), Visa Check Debit Card foreign ATM fees ($2.50), and card replacement fees ($10).
4. Service Charges: Money orders ($2.50), cashier checks ($5), notary services ($2), safe deposit box rentals ($15-$70 annually), stop payment fees ($30), and statement fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of New Madrid is a community bank that provides deposit products (personal and business checking, savings), debit cards (VISA Check Card, gift cards, reloadable cards), and a full lending portfolio covering consumer, commercial, agricultural, and real estate loans. Digital banking is delivered through an online E-Banking platform, a mobile app, e-statements, online bill pay, and surcharge-free ATM access via the MoneyPass network, supplemented by traditional in-branch and wire transfer services.

Product overview

Bank of New Madrid is a traditional community bank offering a comprehensive suite of banking products and services through physical branch locations in New Madrid, Lilbourn, and Portageville, Missouri, complemented by digital channels. The core product portfolio centers on deposit accounts (checking and savings) and lending products (consumer, commercial, agricultural, and real estate loans). Digital banking services include E-Banking (online banking via FundsXpress/Apiture platform) and Mobile Banking apps for iOS and Android. Additional offerings include debit cards, gift/reloadable prepaid cards, Guardian Overdraft Privilege, wire transfers, safe deposit boxes, and various financial calculators. The bank differentiates itself as a community bank serving southeast Missouri since 1934.

Differentiator

Problem solved

Functional benefit

Brands

• Guardian Overdraft Privilege: An automated overdraft payment service that can be added to checking accounts to help manage finances and protect against overdrafts
• E-Banking
• Hooked On Savings

Products and services

• Personal Checking Accounts

Quantifiable outcome

• Serving Southeast Missouri since 1934
• +2 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• MoneyPasscoreTechnology or IntegrationATM network partnership providing Bank of New Madrid customers surcharge-free access to over 37,000 MoneyPass ATMs nationwide. Customers can avoid surcharges by using any MoneyPass-labeled ATM.
• ApiturecoreTechnology or IntegrationE-Banking service provider hosting the bank's online banking platform. Provides cookies and security infrastructure for internet banking services. Collects general website visitor information for security and statistical purposes.
• FundsXpress Financial Network, Inc.coreTechnology or IntegrationProvider of the bank's E-Banking Service platform. FundsXpress and the FundsXpress logo are registered service marks. Unauthorized reproduction prohibited.
• TransFundcoreTechnology or IntegrationDebit card processing network for VISA Check Card transactions. Handles lost/stolen card reporting and fraud reporting after banking hours at 1-855-961-1602.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• BTC Bank: A Missouri-based community bank of similar small-town, rural footprint serving agricultural and consumer customers. Comparable in scale, branch count, and product mix (deposits, ag loans, consumer lending).
• Hawthorn Bank: A privately held Missouri community bank serving small-town and rural markets with personal, business, and agricultural lending products — directly comparable in franchise type and customer base.
• Equity Bank: A community bank serving Kansas, Missouri, and Oklahoma with personal/business banking, ag lending, and digital channels. Comparable product set and rural/community focus.
• Bank of Sullivan: A small privately held Missouri community bank offering deposit accounts, consumer loans, and residential mortgages — closely matched in scale and community-bank positioning.
• Citizens Bank of Eldon: A small Missouri community bank providing consumer, commercial, and agricultural lending to rural customers — similar franchise scale and customer profile.

Broad incumbents

• Great Southern Bank: A larger publicly traded Missouri community bank offering similar deposit, consumer, and commercial lending products across multiple states. Comparable business model but at significantly larger scale.
• Commerce Bank: A larger Missouri-headquartered regional bank with a full suite of consumer, business, and ag banking products. Overlaps with Bank of New Madrid's product portfolio but operates at substantially greater scale.
• First Mid Bank & Trust: A publicly traded community bank operating across Illinois and Missouri with consumer, business, and ag lending products. Comparable in community-banking DNA but with much broader geographic reach.

Emerging players

• Chime: A digital-first neobank competing for retail deposits and consumer banking relationships. Not a direct community-bank competitor but represents the digital alternative increasingly capturing rural and younger customers from incumbents like Bank of New Madrid.

Others

• MoneyPass (Network): An ATM surcharge-free network in which Bank of New Madrid participates. Listed as a peer due to its critical infrastructure relationship — enabling the bank's 37,000+ ATM footprint — rather than direct competition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/bankofnewmadrid
• LinkedInlinkedin.com/company/bank-of-new-madrid

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&A

Investments

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

Frequently asked questions about Bank of New Madrid