First State Bank of St. Charles

What First State Bank of St. Charles does

First State Bank of St. Charles is a privately held, Missouri state-chartered community bank founded in 1867 and headquartered in St. Charles, MO. The bank operates an Employee Stock Ownership Plan (ESOP) and has never been acquired, operating across physical branches in Missouri (St. Charles, O'Fallon, Lake St. Louis, Chesterfield) and Kansas (Leawood), complemented by mortgage offices in Missouri, Kansas, and Phoenix, AZ, with authorization to originate mortgages in all 50 states under NMLS ID 416668. As of December 31, 2025, the bank reported $562.4M in total assets, $423.1M in deposits, $399.4M in net loans, and $86.2M in stockholders' equity, with $7.2M in net income.

The bank offers a full-service suite spanning consumer checking and savings products (Premium NOW, Simple, Next Generation, New Start, BaZing), CDs, IRAs, consumer loans (auto, recreational vehicle, personal, credit builder), debit and credit cards, and digital banking delivered via mobile app, online banking, Zelle, Apple Pay, Google Wallet, and Samsung Pay. Business banking includes commercial checking, SBA 504 loans, MOBUCK$ linked deposit program, commercial real estate, construction, equipment financing, lines of credit, cash management, Positive Pay fraud protection, and Clover (Fiserv) merchant POS systems. Mortgage offerings include home purchase, refinance, home equity, and specialty programs for medical professionals (up to $2M, 100% financing, no PMI) and first responders (100% financing, no down payment). Wealth management services are delivered through the First State Wealth Advisors subsidiary in partnership with LPL Financial.

Revenue is generated primarily through Net Interest Income ($19.5M in 2025) and a substantial Mortgage Banking operation ($20.6M in 2025), supplemented by brokerage fees and commissions ($2.7M) and other noninterest income ($0.7M). Total Interest Income of $29.5M and Total Noninterest Income of $23.9M yielded approximately $53M in gross revenue. The bank reinvests 94% of deposits locally and is led by President & CEO Luanne Cundiff, who chairs the Federal Reserve's Community Depository Institutions Advisory Council (CDIAC). Customer segments span individual consumers and families, small to mid-size businesses, medical professionals, first responders, and nonprofit organizations, primarily across the Midwest.

Name

First State Bank of St. Charles

Legal name

First State Bank of St. Charles, Missouri

Website

https://fsbfinancial.com

Company type

Private

Founded year

1867

Operating status

Operating

Headcount range

251–500 employees

Short description

First State Bank of St. Charles is a privately held, Missouri-chartered community bank founded in 1867, offering consumer and commercial banking, mortgage lending in all 50 states, and wealth advisory services to individuals, small businesses, and specialty segments across the Midwest.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), 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 industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Community banking
• Retail banking services
• Mortgage lending
• Commercial lending
• Wealth management

Headquarters

HQ city

St. Charles

HQ country

United States

HQ region

North America

Offices9 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, Others

Revenue model

1. Net Interest Income: Interest earned on loan portfolio including commercial real estate, consumer loans, and mortgages, offset by interest paid on deposits. Major revenue driver with $19.5M in net interest income for 2025.
2. Mortgage Banking Revenues: Revenue from originating and servicing mortgage loans, including home purchase loans, refinances, home equity lines, and specialty mortgage programs. Generated $20.6M in 2025.
3. Brokerage Fees and Commissions: Wealth management and investment services referral fees from partnership with LPL Financial. Generated $2.7M in 2025.
4. Noninterest Income: Fees from digital banking services, wire transfers, safe deposit boxes, notary services, debit/credit card transaction fees, and other banking service charges. Generated $679K in 2025.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

First State Bank of St. Charles is a full-service community bank providing consumer and business deposit accounts (checking, savings, money market, CDs, IRAs), consumer and commercial loans, in-house mortgage origination and servicing in all 50 states, merchant POS services, and wealth management referrals through LPL Financial. Offerings are delivered through physical branches, mortgage offices, and digital banking channels (mobile and online).

Product overview

First State Bank of St. Charles is a full-service community bank offering a comprehensive portfolio of banking, lending, mortgage, and wealth management products through both personal and business channels. The bank operates a unified platform of Digital Banking services as its core delivery channel, supplemented by physical branch locations and mortgage centers. Personal banking includes multiple checking account variants (Premium NOW, Simple, Next Generation, New Start, BaZing Rewards), savings products (Regular, Next Generation, Money Market, HSAs), CDs and IRAs, various loan products (auto, recreational vehicles, personal, credit builder), and debit/credit cards. Business banking encompasses specialized checking, savings, and money market accounts, business credit cards, merchant/POS services through Clover, commercial lending (real estate, construction, equipment, SBA 504, MOBUCK$), and digital cash management tools. Mortgage offerings include home purchase, refinance, and home equity products, plus specialized First Responder and Medical Professional loan programs. Wealth management services are delivered through First State Wealth Advisors in partnership with LPL Financial. Specialty services include Safe Deposit Boxes, Dementia-Friendly Banking, and notary services. The bank serves customers across Missouri, Kansas, Illinois, and authorized to lend in all 50 states through its mortgage division.

Differentiator

Problem solved

Functional benefit

Products and services

• Premium NOW Checking Interest-bearing checking account with premium rewards and bonus benefits for personal accountholders.
• Simple Checking Low-cost checking account providing basic banking services without premium features.
• Next Generation Checking Checking account designed to help young accountholders build money-management skills.
• New Start Checking Checking account designed to help customers rebuild their balance without overdraft fees as a barrier.
• BaZing Checking Rewards Top-tier personal checking account offering added benefits and rewards for accountholders.
• Regular Savings Basic savings account with low or no fees for everyday savings needs.
• Next Generation Savings Savings account for family members up to 26 years of age providing a head start on building savings.
• Personal Money Market High-yield money market account offering competitive rates for stepped-up personal savings.
• Health Savings Accounts Tax-advantaged savings accounts for individuals with high-deductible health plans to save for medical expenses.
• Certificates of Deposit (CDs) Fixed-term deposit accounts offering guaranteed rates for terms from three months to two years, with promotional rates including 3.80% APY on 4-month and 3.90% APY on 7-month terms.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including traditional and Roth IRA options.
• Auto Loans Competitive financing for purchasing new or used vehicles, or refinancing existing auto loans.
• Boat, ATV, and Motorcycle Loans Financing for recreational vehicles including boats, all-terrain vehicles, and motorcycles.
• Recreational Vehicle Loans Financing for RVs and motorhomes with flexible terms and competitive rates.
• CD Secured Loans Loans secured by CD holdings, offering reduced rates and increased borrowing power.
• Unsecured Personal Loans Personal loans with competitive rates and flexible terms without requiring collateral.
• Credit Builder Loan Program Loan program designed to help individuals build or rebuild credit history and credit scores.
• Consumer Debit Cards Visa debit cards with Zero Fraud Liability Protection for cash withdrawals and purchases.
• Gift and Reloadable Cards Prepaid gift cards ranging from $10 to $1,000 and reloadable cards for direct deposit use.
• Business Checking Business checking account with cash management tools and fee credits for SMB operating cash flow.
• Business NOW Checking Interest-bearing business checking account for easy interest accrual alongside operating expense management.
• Community Business Checking Checking account designed for small to mid-size businesses with low transaction volumes.
• Corporate Savings Business savings account with competitive market rates for corporate funds.
• Business CD Certificate of deposit for businesses with guaranteed interest over selected terms.
• Business Money Market Money market account providing liquid investment option for business deposits.
• Business Credit Cards Business credit cards with cash back, rewards, and flexible options for managing business expenses.
• Visa Business CheckCard Business debit card accepted anywhere Visa is accepted with Zero Fraud Liability Protection.
• Merchant and POS Systems (Clover) Fiserv Clover point-of-sale systems with business management and built-in reporting for merchants.
• Commercial Real Estate Loans Financing for owner-occupied or investment commercial properties with fixed or variable rate options.
• Construction Financing Construction loans with flexible terms and fixed or variable rates for building projects.
• Equipment Financing Equipment financing with flexible terms amortized to match the equipment's useful life.
• Revolving Lines of Credit Working capital revolving lines of credit for growing businesses with flexible access to funds.
• MOBUCK$ Linked Deposit Loan Program Missouri-based business loan program offering longer terms and low fixed rates via the Missouri Linked Deposit Program with the Missouri State Treasurer.
• SBA 504 Loans Long-term fixed-asset loans for land, building, and equipment funded through the U.S. Small Business Administration 504 program, commonly combined with the Missouri First program for low interest rates and as little as 10% down.
• Cash Management Business digital banking service for streamlining payments and cash flow through ACH and wire services.
• Remote Deposit Digital deposit service allowing businesses to scan and deposit hundreds of checks remotely.
• Positive Pay Fraud Protection ACH Debit and Credit Positive Pay service accessed through business digital banking to combat check and ACH fraud.
• First State Bank Mortgage — Home Buying Loans Mortgage loans for purchasing homes, serviced in-house with personalized one-on-one attention under NMLS ID 416668, with lending authority in all 50 states.
• First State Bank Mortgage — Refinancing Mortgage refinancing options to reduce payments, consolidate debt, or access home equity, with in-house servicing.
• First State Bank Mortgage — Home Equity Home equity lines of credit and loans converting built-up equity into flexible financing.
• First Responder Home Loan Specialized mortgage program for first responders offering 100% financing with no down payment and no PMI for qualified police officers, firefighters, paramedics, EMTs, and 911 dispatchers in Missouri, Kansas, and Illinois (St. Louis MSA).
• Medical Professional Loan Home loan program for medical professionals offering up to 100% financing, loan amounts up to $2 million, no borrower-paid mortgage insurance, and student loans in deferment excluded from DTI for physicians, dentists, residents, and fellows.
• Digital Banking Platform Online and mobile banking platform supporting account management, bill pay, e-statements, Zelle peer-to-peer payments, digital wallet, credit score monitoring, text alerts, and account alerts; available on iOS and Android via Apiture and FundsXpress-powered infrastructure.
• Digital Wallet Virtual wallet enabling cashless payments with secure card tokenization and biometric authentication, supporting Apple Pay and Google Wallet for debit cards and Samsung Pay for credit cards.
• First State Wealth Advisors Wealth management, financial planning, and investment advisory services delivered through LPL Financial registered representatives, including a top 1.4%-ranked advisor and a program ranked in the top 7% of LPL Institution programs.
• Safe Deposit Boxes Secure storage for important documents and irreplaceable items available at bank branch locations.
• Dementia and Aging-Friendly Banking Compassionate financial services and specialized training for customers and caregivers affected by dementia or Alzheimer's disease; the bank is certified as dementia-friendly.

Quantifiable outcome

• In 2025, provided $10 million in commercial loans for community development and $53 million for affordable housing
• +3 more outcomes

Named customers4 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

Integration9 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core.

• LPL Financial LLCcoreStrategic or Co-development PartnerReferral partnership for investment and wealth management services. First State Bank refers customers to LPL Financial advisors for securities and advisory services. This creates a conflict of interest as LPL pays First State Bank for referrals. Securities offered through LPL (member FINRA/SIPC), a registered investment advisor and broker-dealer.
• Fiserv (Clover POS)coreTechnology or IntegrationMerchant point-of-sale system partnership providing Clover POS systems to business customers. Fiserv is a leading global provider of payments and financial technology. Clover systems offer business management and built-in reporting for merchants.
• ZellecoreTechnology or IntegrationPartnership to offer Zelle peer-to-peer payment service starting August 2019, enabling fast, safe, and easy money transfers to family and friends.
• U.S. Small Business Administration (SBA 504 Program)coreStrategic or Co-development PartnerSBA 504 loan program partner providing long-term, fixed-asset loans for land, building, and equipment to qualifying businesses. Combined with Missouri First program for favorable terms including low interest rates and as little as 10% down payment.
• Missouri State Treasurer / MOBUCK$ Linked Deposit ProgramcoreStrategic or Co-development PartnerPartnership with Missouri State Treasurer Vivek Malek's office administering MOBUCK$ Linked Deposit Program providing longer terms and low fixed rates for Missouri-based businesses. Met with bank representatives in 2025 to discuss program initiatives.
• Missouri First ProgramcoreStrategic or Co-development PartnerMissouri state program combined with SBA 504 loans to help businesses like Dr. Aaron Mohr's commercial property purchase with low interest rates and only 10% down payment required.
• Federal Reserve Bank (CDIAC)coreOthersPresident & CEO Luanne Cundiff serves as chairperson of the Federal Reserve's Community Depository Institutions Advisory Council (CDIAC), providing feedback on nationwide policy decisions impacting community banks and local economies.

Scale indicators13 records

Recent moves14 records

Expansion highlights5 records

Direct peers

• Midwest BankCentre: St. Louis MSA community bank serving consumers and businesses with checking, lending, mortgage, and wealth services. Directly comparable in geography (overlapping St. Louis footprint), product mix, and relationship-banking model.
• Equity Bank: Midwest-focused community bank headquartered in Kansas with full retail, commercial, and mortgage services. Comparable as a community bank expanding across Missouri and Kansas with similar relationship-banking positioning.
• Lindell Bank & Trust: St. Louis-based privately held community bank offering personal, business, and wealth services. Comparable as an independent St. Louis-area community bank with similar scale and a relationship-driven model.
• Cass Commercial Bank: St. Louis-based commercial bank focused on business banking, treasury management, and lending. Comparable as a fellow independent St. Louis-area community bank competing for similar business deposit and commercial lending relationships.
• Royal Banks of Missouri: St. Louis-area community bank offering personal, business, and mortgage banking. Comparable as a privately held community bank serving similar customer segments in overlapping Missouri geographies.
• Great Southern Bank: Springfield, MO-based independent community bank with comparable retail and commercial banking, mortgage origination, and wealth management. Directly comparable as a Missouri-focused community bank of similar scale and product mix.

Broad incumbents

• UMB Bank: Kansas City-based super-regional bank with a major commercial banking, mortgage, and wealth management presence across the Midwest. Comparable as a larger Midwest competitor offering overlapping banking, mortgage, and wealth services in the same geographies.
• Commerce Bank: Kansas City-based super-regional bank with a strong Missouri/Kansas retail and commercial franchise. Comparable as a Midwest community/commercial banking competitor operating in the same core geographies (St. Louis, Kansas City) with a similar full-service model, though at materially larger scale.

Others

• Fiserv (Clover): Technology partner and merchant-acquiring provider whose Clover POS system is resold by First State Bank to business customers. Comparable as a key infrastructure/ecosystem partner rather than a competitor, but materially relevant to the merchant services revenue line.

Emerging players

• West Community Credit Union: Missouri-based credit union providing consumer and business banking in the St. Louis region. Comparable as a local alternative competing for similar retail deposit and consumer lending relationships, though structured as a cooperative rather than a bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/fsbfinancial
• YouTubeyoutube.com/user/BankingMadePersonal
• Facebookfacebook.com/fsbfinancial
• LinkedInlinkedin.com/company/871549
• Instagraminstagram.com/fsbfinancial

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 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 First State Bank of St. Charles