Southwest Heritage Bank

What Southwest Heritage Bank does

Southwest Heritage Bank is a state-chartered, FDIC-insured community bank headquartered in Scottsdale, Arizona, that provides personal and business banking products across a 7-branch footprint in Arizona and New Mexico. The bank was formed in March 2024 from the merger of Bank 34 and Commerce Bank of Arizona under the publicly traded holding company Bancorp 34, Inc. (OTCQB: BCTF), creating what the company describes as the largest community bank headquartered in Arizona. It serves individual consumers, small and medium-sized businesses, non-profit organizations, entrepreneurs seeking SBA financing, and customers aged 55+, with deposit, lending, and treasury management products tailored to each segment.

The bank's product platform spans personal checking (Simple Checking, Reserve Checking, Kasasa CashReward Checking at 1.76% APY, Kasasa CashBack Checking offering 3.00% cash back) and business checking (Small Business, Analysis, Interest Checking, and 501c/Simple Non-Profit variants), savings and money market accounts including a PremiumPlus tier reaching 3.83% APY, and certificates of deposit with terms from 3 to 60 months. Lending products include SBA 7(a) and 504 loans, business lines of credit, term loans, equipment financing, commercial real estate loans, construction loans, and home mortgages, alongside personal and business credit cards. Digital services are delivered through mobile apps (iPhone and Android), online banking with bill pay, remote deposit capture with same-day credit, ACH origination, wire services, and Open Access Connectivity — a data-sharing layer connecting business accounts to third-party aggregators including Akoya, MX, Finicity, Intuit, Stripe, Envestnet | Yodlee, Tink, Morningstar, and Plaid. Treasury management is supplemented by CDARS and Insured Cash Sweep programs for FDIC coverage above the $250,000 standard limit.

The business model is a traditional community-bank interest spread plus fee structure: net interest income from loans and deposit reinvestment, monthly account service fees ($10-$15 on business checking), wire and transaction fees, interchange from Visa debit and credit card programs, and treasury management service revenue. Distribution relies on physical branches in Scottsdale-Kierland, Gilbert, Tucson (Williams Circle), Oro Valley, Green Valley, Las Cruces, and Alamogordo, complemented by online account opening and digital banking channels. The bank is led by Chairman & CEO Ciaran McMullan, President Chris Webster, EVP/CFO Kevin Vaughn, EVP/CCO Paul Tees, and EVP/COO Evan Anderson, with reported headcount of 51-100 employees. No disclosed revenue, funding rounds, or non-public financial statements are available in the source material.

Name

Southwest Heritage Bank

Legal name

Southwest Heritage Bank

Website

https://swhbank.com

Company type

Public

Founded year

2024

Operating status

Operating

Headcount range

51–100 employees

Short description

Southwest Heritage Bank is a community bank formed in 2024 from the merger of Bank 34 and Commerce Bank of Arizona, operating 7 branches across Arizona and New Mexico to serve consumers, small businesses, non-profits, and entrepreneurs with deposit, lending, and treasury management products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SBA/Government-Backed & Development Finance Loans (FSAKAGAI)

akta.pro secondary industries

Real Estate (Commercial Property, REITs) (FSABACAH), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking
• Small business lending
• SBA loan programs
• Retail deposit accounts
• Treasury management services

Headquarters

HQ city

Scottsdale

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue stream from interest earned on loans including commercial real estate loans, SBA loans, business loans, equipment loans, construction loans, home mortgages, and personal loans. Interest is also earned on deposit accounts including money market accounts and certificates of deposit.
2. Fee Income: Revenue from account service fees including monthly maintenance fees on checking and savings accounts, transaction fees exceeding free allowance, wire transfer fees, and other banking service charges. Fee schedule is publicly available.
3. Credit Card Fees: Revenue from credit card operations including annual fees on certain card products, transaction fees, and interchange income from Visa debit and credit cards.
4. Treasury Management Services: Fees for business electronic banking, ACH services, wire services, remote deposit capture, and other treasury management services for business customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Southwest Heritage Bank is a community bank offering personal and business deposit products (checking, savings, money market, CDs), consumer and commercial lending (SBA loans, business lines of credit, term loans, equipment loans, commercial real estate loans, home mortgages, construction loans, credit cards), and digital banking services (online/mobile banking, mobile deposit, remote deposit capture, ACH, wire, Open Access Connectivity). It operates 7 branches across Arizona and New Mexico and serves individuals, small-to-medium businesses, non-profits, and entrepreneurs.

Product overview

Southwest Heritage Bank is a community bank offering a comprehensive suite of personal and business banking products organized as a platform-plus-modules architecture. The core banking platform encompasses checking accounts (Simple Checking, Reserve Checking, Kasasa CashReward Checking, Kasasa CashBack Checking for personal; Small Business Checking, Analysis Checking, Interest Checking, Non-Profit Checking variants for business), savings accounts (Simple Savings, Premium Money Market, PremiumPlus Money Market, Business Savings, IOLTA accounts), and lending products (SBA Loans, Business Lines of Credit, Term Loans, Equipment Loans, Commercial Real Estate Loans, Credit Cards, Home Mortgages, Construction Loans). Digital banking services are delivered through integrated modules including Personal and Business Electronic Banking, Mobile Banking with Mobile Deposit, ACH Services, Wire Services, Remote Deposit Capture, and Open Access Connectivity for third-party data integration. The bank also offers Treasury Management services, CDARS/ICS deposit insurance programs, and supplementary services like Visa Debit Cards and 24-hour Telephone Banking. The company emerged from the March 2024 merger of Bank 34 and Commerce Bank of Arizona.

Differentiator

Problem solved

Functional benefit

Products and services

• Small Business Checking Simple business checking account with low balance requirement to avoid monthly service fee and predictable, lower-level transaction volumes. Includes 200 free debit/credit transactions.
• Analysis Checking Business checking account with earnings credit based on positive average balance to offset service and activity fees.
• Interest Checking Interest-earning business checking account for profit-based companies with tiered rates starting at $5,000 balance. Includes 200 free transactions.
• Simple Non-Profit Checking Business checking account for non-profits without 501c designation (associations and clubs) with balance requirements to earn interest and avoid monthly service fees. Includes 200 free transactions.
• 501c Non-Profit Checking Business checking account for non-profits with 501c designation featuring balance requirements to earn interest and avoid monthly service fees. Includes 200 free transactions.
• Premium Money Market (Business) Business savings account earning interest with $1,000 minimum balance requirement, offering check-writing ability and cash-on-hand access while avoiding monthly service fees.
• PremiumPlus Business Money Market Premium interest-earning business money market account with $100,000 minimum to open and $1,000 balance to start earning tiered interest. Offers check-writing ability and cash access.
• Business Savings Business savings account for clients wanting to save money and earn interest with easy access. Features tiered rates starting at $100 balance with $100 minimum to open.
• Business Certificate of Deposit (CDs) Business CD accounts offering fixed rates higher than regular savings with a wide range of terms available.
• Interest on Lawyers Trust Account (IOLTA) Specialized trust account for lawyers where interest earned is entrusted to the Arizona Foundation for Legal Services & Education to fund legal and education programs.
• Simple Checking Basic personal checking account with no minimum average balance or monthly service fee. Does not earn interest with $100 minimum to open and unlimited transactions.
• Reserve Checking Personal checking account with special benefits for clients 55 and older featuring tiered rates starting at $500 balance, free checks, free paper statements, free stop payments, and half-price safe deposit box.
• Kasasa CashReward Checking Reward checking account offering 1.76% APY up to $50,000 when qualification requirements are met (12 debit card transactions, e-statement enrollment, and ACH/direct deposit).
• Kasasa CashBack Checking Reward checking account offering 3.00% cash back on up to $250 in debit card purchases (max $7.50 per cycle) plus up to $25 ATM fee refunds when qualification requirements are met.
• Simple Savings Basic personal savings account with low balance requirement starting at $100 to earn interest, easy access to funds, and no monthly service charge for minors under 18.
• Personal Premium Money Market Personal money market account earning tiered interest with $1,000 minimum to open, offering check-writing ability and cash access while avoiding monthly service fees.
• Personal PremiumPlus Money Market Premium personal money market account with $100,000 minimum to open and $1,000 average daily balance to avoid monthly service fee. Offers tiered rates and check-writing ability.
• Personal Certificates of Deposit (CDs) Personal CD accounts with fixed rates higher than regular savings, terms ranging from 3 months to 5 years, and $1,000 minimum deposit to open.
• Kasasa CashReward Checking with Saver Combined checking and savings reward account offering 1.76% APY up to $50,000 on checking and 0.50% APY up to $50,000 on savings when qualification requirements are met.
• Kasasa CashBack Checking with Saver Combined checking and savings reward account offering 3.00% cash back on checking (up to $7.50 per cycle) and 0.50% APY up to $50,000 on savings when qualification requirements are met.
• Small Business Administration (SBA) Loans Government-guaranteed loans including SBA 7(a) and 504 term loans and lines of credit for businesses that may have difficulty getting approved. Features lower down payments, longer repayment terms, and higher loan-to-value ratios.
• Business Lines of Credit Revolving credit lines for long-term or seasonal business needs including seasonal fluctuations, capitalizing on trade discounts, and ongoing updates. Funds are available as needed with interest only on used portions.
• Business Term Loans Competitive rate term loans for wide range of business expenses including working capital, machinery, inventory, and facility improvements.
• Equipment Loans Loans for new or used equipment including manufacturing, printing, distribution, and medical equipment. Borrow up to 90% of purchase price, secured by the equipment being financed.
• Commercial Real Estate Loans Loans to build, buy, or refinance commercial properties with competitive rates, funds disbursed throughout construction schedule, and maximum 75% loan-to-value including fees financed.
• Credit Cards Personal and business credit cards including Platinum Classic, Platinum Payback, Platinum Preferred, World, World Elite, and business cards with various benefits like cash back, reward points, and cell phone protection.
• Home Mortgage Loans Home purchase, refinance, and construction mortgages including fixed rate mortgages, adjustable rate mortgages (ARMs), FHA loans, and construction loans with local processing and quick decisions.
• Personal Electronic Banking Online banking and bill pay service enabling account access, e-statements, balance viewing, fund transfers, loan payments, and mobile banking with mobile deposit.
• Business Electronic Banking Business online banking and bill pay service with instant deposit, savings, and loan balance access, detailed account history viewing, fund transfers, stop payments, and mobile banking with mobile deposit.
• Remote Deposit Capture Electronic check deposit service allowing businesses to deposit checks from their office using a desk scanner and internet access, with same-day credit up to 4 pm MST.
• ACH Services Automated Clearing House service for 24/7 outgoing payments including direct deposit payroll, vendor payments, and state/federal tax payments with electronic processing.
• Wire Services Same-day domestic and international wire transfer service initiated online with ability to schedule one-time transfers or create recurring templates.
• Open Access Connectivity Secure data sharing service enabling business account data integration with third-party financial applications through connections with Akoya, MX, Finicity, Intuit, Stripe, Envestnet | Yodlee, Tink, Morningstar, and Plaid.
• CDARS & Insured Cash Sweep Accounts FDIC insurance access services for deposits above the $250,000 limit through Certificate of Deposit Account Registry Service (CDARS) and Insured Cash Sweep (ICS) networks.
• Visa Debit Card Visa debit card for purchases globally and online with direct access to designated account balance. Business customers can issue multiple cards with pre-set employee limits.

Named customers27 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• KasasacoreTechnology or IntegrationLicensed provider of rewards-based checking account platform including Kasasa CashReward and Kasasa CashBack products with qualification-based premium rates and cash back rewards.
• CDARS NetworkcoreTechnology or IntegrationCertificate of Deposit Account Registry Service network enabling FDIC insurance coverage above $250,000 for large deposits through multi-institution CD placement.
• ICS (Insured Cash Sweep)coreTechnology or IntegrationInsured Cash Sweep service enabling FDIC coverage above limits through money market deposit accounts at multiple FDIC-insured institutions.
• Continental Stock Transfer & Trust CompanyminorOthersStock transfer agent and warrant agent maintaining shareholder records for BCTF shareholders. Located at 1 State Street, 30th Floor, New York NY.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• First Foundation Bank: First Foundation Bank is a relationship-driven community bank serving consumers, small businesses, and commercial clients, with strong specialty mortgage and CRE lending. Its product mix, segment focus, and West Coast/Southwest operating geography are directly comparable to Southwest Heritage Bank.
• Glacier Bancorp: Glacier Bancorp is a multi-state community bank holding company operating bank charters across the Mountain West and Western U.S. Its model of acquiring and integrating community banks into a single holding company platform closely mirrors the Bancorp 34 / Bank 34 + Commerce Bank of Arizona playbook that produced Southwest Heritage Bank.
• Pinnacle Financial Partners: Pinnacle Financial Partners is a community/super-community bank focused on relationship-based SMB and consumer banking across the Southeast and Mid-Atlantic. It mirrors SWHB's local decision-making, SBA-style SMB lending, and branch-led growth strategy, making it a strong model for a multi-state community bank expansion path.
• Pacific Premier Bancorp: Pacific Premier Bancorp is a community-focused bank holding company serving small and middle-market businesses, with strong CRE, SBA, and treasury management offerings. Its West Coast community-bank model and active M&A history provide a close operational and strategic parallel to Southwest Heritage Bank.
• CVB Financial / Citizens Business Bank: CVB Financial, parent of Citizens Business Bank, is a California-based community bank focused on SMB banking, commercial lending, and treasury management. Its concentration on business checking, CRE lending, and relationship banking makes it a direct comparable in product mix and customer segment to Southwest Heritage Bank.

Broad incumbents

• Western Alliance Bancorporation: Western Alliance is a Phoenix-headquartered bank holding company with major operations across Arizona and the Southwest, serving SMBs, commercial real estate, and homeowners. It is the dominant in-state competitor to Southwest Heritage Bank and the natural scale comparison given shared geography and overlapping CRE/SBA lending franchises.
• National Bank of Arizona (Zions Bancorporation): National Bank of Arizona is a Zions Bancorporation subsidiary operating across Arizona with full commercial, mortgage, and treasury services. It is a direct in-state incumbent competitor and represents the larger-charter alternative for the same Arizona SMB and consumer customers Southwest Heritage Bank serves.

Regional players

• TriCo Bancshares: TriCo Bancshares operates Tri Counties Bank, a Northern California community bank focused on consumer and SMB banking, CRE lending, and treasury services. While California-based rather than Arizona, its scale, product mix, and relationship-banking model make it a useful size and segment comparable for Southwest Heritage Bank.

Others

• Bank of the Southwest (various community banks): A composite reference to other small community banks operating in the AZ/NM corridor (e.g., First State Bank, Bank of the Southwest, local credit unions). These institutions compete for the same local deposit and SMB lending pool and represent the price-setter baseline in the markets Southwest Heritage Bank operates in.
• Kasasa (third-party rewards account provider): Kasasa is the platform provider for Southwest Heritage Bank's CashReward, CashBack, and Saver rewards checking products. While not a direct competitor, it is a key ecosystem partner whose product roadmap and pricing structure materially shape SWHB's consumer deposit acquisition economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/southwest-heritage-bank
• Instagraminstagram.com/southwestheritagebank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Southwest Heritage Bank