What Peoples Trust does

Peoples Trust & Savings Bank is a privately held, family-owned community bank headquartered in Boonville, Indiana, founded in 1895 and operating continuously for over 125 years. The bank serves individual consumers, small businesses, first responders, physicians, and high-net-worth households in the Warrick County and Evansville, Indiana metro area through five physical branches (Boonville headquarters, two in Newburgh, two in Evansville), supported by a mobile banking app on iOS and Android, online banking at peoplestrust.myebanking.net, a 40+ ATM local network, and 4,000+ ATMs nationwide through an Alliance One partnership.

The product portfolio spans personal deposits (Gold, Platinum, and Hometown Hero Checking; Basic, Elite, and Christmas Club Savings; HSAs; CDs; IRAs), personal loans (Conventional Mortgage, the proprietary Main Street Mortgage with 10.1% down and no PMI, Jumbo Mortgage, Physicians Financing, Hassle-Free HELOC, Construction, Land/Lot, Home Equity, Savings-Secured, and Auto Loans), business banking (Small Business Checking, Business Checking, Preferred Checking, Cash Management, Business Savings, and commercial loans), and a trust department administering estates, guardianships, revocable/irrevocable trusts, charitable trusts, and the Christian Science Society of Boonville Trust (which has disbursed over $1.8 million to Warrick County nonprofits). The bank is FDIC insured and operates under NMLS 229852 for mortgage lending.

Revenue is generated primarily through net interest income on loans and deposits, supplemented by deposit account fees (overdraft, paper statements, account closure), loan origination fees, trust service fees on assets above $100,000, and ATM transaction fees. Distribution relies on a relationship-led go-to-market through local branches and loan officers, direct-to-consumer digital channels (online banking, mobile app, online loan inquiry), community involvement, and a call center (812-842-BANK). The bank's value proposition centers on 125+ years of local presence, personalized service distinct from national banks, and proprietary products such as Main Street Mortgage and Elite Savings that compete on price and structure rather than scale.

Name

Peoples Trust

Legal name

Peoples Trust & Savings Bank

Website

https://peoplestrust.bank

Company type

Private

Founded year

1895

Operating status

Operating

Headcount range

101–250 employees

Short description

Peoples Trust & Savings Bank is a privately held, family-owned community bank founded in 1895, serving consumers, small businesses, first responders, and physicians in the Evansville and Warrick County, Indiana area through five branches, mobile and online banking, and a dedicated trust department.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking
• Personal banking services
• Mortgage lending
• Business banking
• Trust services

Headquarters

HQ city

Newburgh

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Traditional bank interest spread: interest earned on loans (mortgages, personal loans, business loans, HELOCs) minus interest paid on deposits (checking, savings, CDs, IRAs). Core revenue driver.
2. Deposit Account Fees: Monthly service charges for paper statements ($3/month), overdraft fees, account closure fees within 90 days ($50), and minimum balance fees.
3. Loan Origination Fees: Mortgage origination charges, construction loan fees, and loan refinancing fees. Hometown Hero checking offers savings on mortgage origination charges for first responders.
4. Trust Services: Trust administration and management services for estates, guardianships, scholarships, revocable/irrevocable trusts, charitable trusts, and cemetery trusts. Minimum $100,000 in assets required.
5. ATM Transaction Fees: Access to over 40 ATMs in Evansville area and 4,000+ nationwide through alliance network.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Peoples Trust & Savings Bank is an FDIC-insured community bank offering deposit products (checking, savings, HSAs, CDs, IRAs), consumer and commercial loan products (mortgages, HELOCs, construction, auto, business loans), and trust/estate administration services to individuals, small businesses, and non-profits in the Evansville, Indiana area. The bank distributes these services through five Indiana branches, online and mobile banking, and a shared ATM network.

Product overview

Peoples Trust & Savings Bank is a community bank headquartered in Boonville, Indiana, offering a comprehensive suite of banking products and services for both personal and business customers. The bank's offerings span three core categories: deposit products (checking, savings, HSAs, CDs, IRAs), lending products (mortgages, HELOCs, auto loans, construction loans, business loans), and trust services. The Main Street Mortgage is the bank's signature mortgage product featuring 10.1% down payment with no PMI requirement. Personal banking includes specialized accounts like Hometown Hero Checking for first responders and Elite Savings with 3.00% APY. Business banking provides Small Business Checking, Business Checking, Preferred Checking, Cash Management tools, and commercial lending. Digital banking is supported through online banking and mobile apps for iPhone and Android. The bank operates 5 physical branch locations in the Evansville area and maintains an extensive ATM network of over 4,000 machines nationwide through the Alliance One network.

Differentiator

Problem solved

Functional benefit

Brands

• Main Street Mortgage: The bank's signature mortgage product featuring a low down payment (10.1%) and no private mortgage insurance requirement.
• Elite Savings
• Hassle-Free HELOC

Products and services

• Gold Checking Interest-bearing personal checking account with 0.05% APY, no monthly fees when enrolled in e-statements, free basic checks, free online banking, and local personal service for individual consumers.
• Platinum Checking Elevated personal checking account with tiered APY up to 0.20% on balances of $75,000+, no cap on interest, free mobile banking, and e-statements required for individual consumers.
• Hometown Hero Checking Specialized checking account for first responders (military, police, fire, EMS) offering up to 0.50% APY on balances $500+, no monthly service charge, no minimum balance, and savings on mortgage origination charges for individual consumers.
• Basic Savings Simple personal savings account with 0.05% APY, $100 minimum daily balance, $1 monthly fee if balance falls below $100, and no monthly service charge for individual consumers.
• Elite Savings High-yield personal savings account earning 3.00% APY uncapped on balances of $30,000 and over, with no minimum balance and greater liquidity than CDs for individual consumers.
• Christmas Club Seasonal savings account for holiday shopping with 0.40% APY, no monthly service charge, no minimum balance, and automatic fund distribution in October annually for individual consumers.
• Health Savings Account (HSA) Tax-advantaged health savings account for individuals with high-deductible health plans, featuring a free debit card and tiered interest rates up to 2.00% APY on balances of $10,000+.
• Certificates of Deposit (CDs) Time deposit accounts with terms from 3 to 60 months, $500 minimum opening deposit, and APYs ranging from 2.96% to 3.58% for individual consumers.
• Individual Retirement Account (IRA) Retirement savings accounts including Fixed-Rate IRA (3–60 month terms), Variable-Rate IRA (18-month term), and Rollover IRA options with $500 minimum opening deposit for individual consumers.
• Conventional Mortgage Traditional home mortgage with a 6.50% rate / 6.56% APR (30-year fixed, 20% down), competitive rates, flexible fixed-rate terms up to 30 years, and free pre-qualifications for individual home buyers.
• Main Street Mortgage Signature mortgage product requiring only 10.1% down payment with NO private mortgage insurance (PMI), at 7.00% rate / 7.05% APR (30-year fixed), with flexible fixed-rate terms, free pre-qualifications, and local personal service for first-time home buyers.
• Jumbo Mortgage Specialized financing for mortgages exceeding $832,750, available for primary, secondary, and vacation homes with competitive rates for individual borrowers.
• Physicians Financing Specialized mortgage product for physicians financing up to 97% of home value, with $750 in closing cost savings and no PMI.
• Hassle-Free HELOC Home Equity Line of Credit with introductory 0.99% APR for the first 3 months, 15-year term with interest-only payments, first-year annual fee waived, and a Rate Refresh Guarantee option for individual borrowers.
• Construction Loans New construction financing with 10.1% down payment, up to 12-month terms, 5.75% interest-only payments during the build (6.97% APR), and no inspection fees for individual borrowers.
• Land and Lot Loans Lot financing up to 75% of the purchase price with terms up to 10 years and competitive fixed rates for individual borrowers securing home lots.
• Home Equity Loans Fixed-rate home equity loans with terms up to 15 years, low closing costs, and free pre-qualifications for individual borrowers accessing home equity.
• Savings-Secured Loans Loans secured by a Peoples Bank deposit account offering the lowest interest rate option while allowing customers to build credit.
• Auto Loans Vehicle financing with rates as low as 6.95% (7.20% APR) and terms up to 6 years for new or used car purchases by individual borrowers.
• Trust Services Estate planning and trust administration services including estate administration, guardianships, revocable/irrevocable trusts, charitable trusts, and cemetery trusts, requiring a minimum of $100,000 in assets.
• Christian Science Trust Charitable trust distributing funds to non-profit civic, educational, and community organizations in Warrick County for non-denominational, non-medical Christian purposes.
• Small Business Checking Checking account for new businesses, non-profits, and small transaction volume businesses with no minimum balance and up to 300 free transaction items.
• Business Checking Commercial checking account for businesses with larger transaction counts, offering up to 600 free transaction items and interest-bearing options.
• Preferred Checking Employee checking account option linked to Small Business Checking, enabling businesses to provide banking services to staff members.
• Cash Management Business cash management tools and services to help businesses manage their finances and optimize banking operations.
• Business Savings Interest-bearing savings account for businesses to deposit and grow business funds with competitive rates.
• Business Loans Commercial lending products including business loans, real estate loans, lines of credit, commercial equipment financing, and term loans for local businesses and non-profits.
• Mobile Banking App Mobile application for iPhone and Android (PTSB Mobile) allowing customers to access banking services on the go with secure login, account management, and Apple Pay, Google Pay, and Samsung Pay support.
• Online Banking Web-based online banking platform providing 24/7 access to accounts, bill pay, transfers, and account management through secure login.

Quantifiable outcome

• 3.00% APY on Elite Savings balances $30,000+ (7x national average)
• +3 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

One partnership is on record.

• Alliance One CooperativeminorOthersATM network partnership providing access to 40+ ATMs in the Evansville area and over 4,000 ATMs nationwide. Customers can locate ATMs through allianceone.coop/a1atm/find.

Scale indicators5 records

Recent moves1 record

Expansion highlights6 records

Direct peers

• Centier Bank: Indiana's largest private, family-owned community bank. Highly comparable to Peoples Trust on ownership structure, relationship-led retail and small-business banking, mortgage products, and trust services, though operating in northwest Indiana.
• Lake City Bank: Indiana community bank with a long operating history, relationship-driven retail and commercial banking, and strong mortgage franchise. Mirrors Peoples Trust's community-bank positioning, family-style service model, and broad product set.
• Old National Bank: Largest Indiana-headquartered community/regional bank, based in Evansville directly within Peoples Trust's footprint. Offers near-identical retail, mortgage, and commercial banking products and competes head-to-head for the same household and SME customers.
• First Financial Bank: Indiana-based community bank headquartered in Terre Haute, offering retail deposits, mortgages, commercial lending, and wealth/trust services. Comparable in scope, community-bank orientation, and Indiana market focus.
• First Merchants Bank: Indiana-based community/regional bank with retail, mortgage, commercial, and wealth management services. Comparable operating model and product mix, though at larger scale across central Indiana.
• German American Bank: Indiana-based community bank headquartered in Jasper, serving southern Indiana including the Evansville region. Offers comparable retail deposits, mortgages, business banking, and wealth/trust services to overlapping consumer and SME segments.
• 1st Source Bank: Indiana-headquartered community bank serving consumers, small businesses, and commercial clients across the state. Overlaps with Peoples Trust on retail deposits, mortgage, commercial lending, and trust capabilities.

Broad incumbents

• Huntington National Bank: Midwest regional bank with a meaningful Indiana retail and commercial presence. Competes with Peoples Trust on deposits, mortgages, and small-business banking as part of a much larger diversified franchise.
• Fifth Third Bank: Large regional bank with substantial Indiana branch presence including the Evansville market. Competes for the same retail and SME customers as Peoples Trust but offers a much broader product set and balance-sheet capacity.
• JPMorgan Chase Bank: National banking incumbent with Indiana retail and SME presence. Provides the 'big-bank' benchmark against which Peoples Trust explicitly positions itself and competes for deposit and mortgage share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PeoplesTrustSavingsBank
• LinkedInlinkedin.com/company/peoples-trust-and-savings-bank
• Instagraminstagram.com/peoples_trust_bank

Compliance2 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 Peoples Trust