Primebank

What Primebank does

Primebank is a privately held, FDIC-insured community bank founded in 1891 and headquartered in Le Mars, Iowa. It operates four physical branches concentrated in western Iowa — one in Le Mars, one in Sioux Center, and two in Sioux City (Sunnybrook and Hamilton) — and serves three core customer segments: individual consumers, small-to-mid-sized businesses, and agricultural operations. The product portfolio spans personal and business deposit accounts (checking, savings, CDs, IRAs, HSAs), debit and credit cards, consumer and home loans, business and agricultural financing (operating lines, equipment loans, real estate mortgages), and merchant card services. Revenue is generated through traditional banking mechanics — net interest income on the loan and securities portfolio plus deposit-driven service charges — alongside fee revenue from account services (debit/credit cards, wire transfers, overdraft) and merchant card transaction processing for business clients.

The bank's distribution model is hybrid: physical branches handle relationship banking, loan origination, and complex transactions, while Internet Banking and Mobile Banking platforms extend account access, bill pay, remote check deposit (eDeposit), electronic statements, real-time alerts, and peer-to-peer payments via Zelle. All digital banking infrastructure is delivered on the Fiserv platform, as evidenced by the eBusiness and personal login portals' Fiserv copyright notice, making Fiserv a core technology dependency rather than a feature choice. Mobile wallet support spans Apple Pay, Google Pay, and Samsung Pay, integrated natively into the eBanking experience. Supplementary services include investment referrals, an eLearning Center, the Money IQ financial education platform, financial calculators, a Fraud Center, a senior-focused Good Neighbors Club, and lost/stolen card management.

Customer acquisition relies on a community-bank playbook: localized social media presence on Facebook, Twitter, and Instagram, an email newsletter, the primebank.bank website as the digital storefront, and community engagement through event venue partnerships with Tyson Events Center and Orpheum Theater. The bank's competitive positioning rests on local presence, personalized service, FDIC-insured deposits, and a full-spectrum product set that allows deposit and lending cross-sell within its western Iowa footprint — not on proprietary technology or differentiated digital experience, which it sources from Fiserv at parity with peer institutions.

Name

Primebank

Legal name

Primebank

Website

https://primebank.com

Company type

Private

Founded year

1891

Operating status

Operating

Headcount range

51–100 employees

Short description

Primebank is a private, FDIC-insured community bank founded in 1891, headquartered in Le Mars, Iowa, providing personal, business, and agricultural banking services across four western Iowa branches on a Fiserv-powered digital and in-branch channel stack.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Card Issuing (52221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Prime Unsecured Personal Loans (Installment) (FSAKAAAA), A2A Collections & Direct Account Funding (FSAMAFAH)

Keywords

• Community banking
• Personal banking
• Agricultural lending
• Business banking
• Digital banking

Headquarters

HQ city

Le Mars

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, Others

Revenue model

1. Interest Income: Traditional banking revenue generated from interest spreads on loans (consumer loans, home loans, business/ag financing) and deposits (checking, savings, CDs, IRAs)
2. Banking Fees and Service Charges: Fees from account services including debit/credit cards, wire transfers, overdraft protection, and other account maintenance charges
3. Merchant Card Services: Transaction processing fees from business merchant card services

Pricing tiers

Distribution channels5 records

Marketing channels7 records

Core offering

Primebank is an FDIC-insured community bank that accepts consumer and business deposits and originates loans from four Iowa branches. Its core product set spans personal deposit accounts (checking, savings, CDs, IRAs, HSAs), personal debit and credit cards, consumer and home mortgage loans, business and agricultural deposit accounts and debit and credit cards, commercial and farm financing, and merchant card processing. All accounts are supported by a Fiserv-powered Internet Banking portal, a Mobile Banking app, Mobile Wallet integrations, eDeposit, eBill Pay, eStatements, eAlerts, and Zelle peer-to-peer payments.

Product overview

Primebank is a regional U.S. community bank offering a unified portfolio of deposit accounts, lending products, and digital banking services to both personal and business/agricultural customers. The product architecture consists of core banking products (checking, savings, CDs, IRAs, HSAs, credit cards, consumer loans, and home loans) for both personal and business segments, supported by an integrated digital banking platform powered by Fiserv. The digital platform includes Internet Banking and Mobile Banking as primary channels, with value-added modules such as eDeposit (remote check deposit), eBill Pay, eStatements, eAlerts, and eSecurity accessible within those platforms. Business customers receive a dedicated eBusiness Banking platform with enhanced controls, ACH capabilities, and merchant card processing. Supplementary services include investment referrals, financial calculators, the Money IQ financial education platform, the eLearning Center with video content, a Fraud Center, and the Good Neighbors Club senior rewards program. Zelle peer-to-peer payments and Mobile Wallet support are built natively into the digital banking channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Core demand deposit account for individual customers, providing access to online banking, mobile banking, debit cards, and Zelle peer-to-peer payments.
• Personal Savings Interest-bearing savings account for individual customers, accessible through online and mobile banking channels.
• Personal Certificates of Deposit Time deposit product offering fixed-rate savings with a defined maturity period for individual customers.
• IRAs Individual Retirement Accounts providing tax-advantaged savings options, including traditional and Roth IRA structures.
• Health Savings Account Tax-advantaged account paired with high-deductible health insurance plans, allowing individuals to save and pay for qualified medical expenses.
• Personal Debit Cards Visa-branded debit card linked to personal checking accounts, enabling point-of-sale purchases, ATM withdrawals, and online transactions.
• Personal Credit Cards Credit card products issued to individual customers, with account management available through the bank's online services.
• Consumer Loans General-purpose installment loans for personal use, including debt consolidation, major purchases, and other consumer financing needs.
• Home Loans Real estate lending products including purchase mortgages, home equity loans, and refinance loans, with loan officers available through the bank's branch network.
• Internet Banking Web-based online banking platform enabling customers to view account balances, transfer funds, pay bills, deposit checks remotely via eDeposit, set alerts, and manage personal account settings.
• Mobile Banking Smartphone application enabling account access, mobile check deposit, fund transfers, bill payment, and real-time alerts. Available for download via the bank's digital banking platform.
• Mobile Wallet Digital wallet integration allowing customers to make contactless payments using their mobile device at participating merchants.
• Business/Ag Checking Commercial and agricultural demand deposit account providing business customers with checking services, online banking access, and merchant card processing integration.
• Business/Ag Savings Savings account product designed for business and agricultural customers, offering interest on operating reserves and excess cash.
• Business/Ag Certificates of Deposit Business-oriented time deposit product providing fixed-rate returns on short- to medium-term business funds.
• Business/Ag Debit Cards Visa debit card issued to business and agricultural account holders, enabling point-of-sale and ATM access linked to the business checking account.
• Business/Ag Credit Cards Credit card offerings tailored for business and agricultural customers, with account management available through the bank's digital channels.
• Business/Ag Financing Commercial and agricultural lending products including operating lines of credit, equipment loans, real estate mortgages, and other specialized financing for farms and businesses.
• eBusiness Banking Web-based online banking platform for business and agricultural customers, providing multi-user access, enhanced transaction controls, ACH origination, wire transfers, and reporting.
• Merchant Card Services Payment processing services enabling business customers to accept Visa, Mastercard, and other card payments at point-of-sale, including hardware, software, and transaction reporting.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• FiservcoreTechnology or IntegrationFiserv provides the online banking platform infrastructure for Primebank's consumer and business internet banking services, including login systems and account management features. This is a core technology partnership essential to their digital banking operations.
• Tyson Events CenterminorGTM or Marketing PartnerPartnership providing ticket discounts to select events for Primebank customers. Located in Sioux City, this partnership enhances customer perks and community engagement.
• Orpheum TheaterminorGTM or Marketing PartnerPartnership providing ticket discounts to select events for Primebank customers. Located in Sioux City, this partnership complements the Tyson Events Center partnership for customer perks.

Recent moves5 records

Expansion highlights4 records

Direct peers

• United Bank of Iowa:

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/BankAtPrimebank
• Facebookfacebook.com/BankAtPrimebank
• Instagraminstagram.com/bankatprimebank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 Primebank