Citizens State Bank of Loyal

What Citizens State Bank of Loyal does

Citizens State Bank of Loyal is an FDIC-insured, state-chartered, independently owned community bank founded on December 9, 1909 and headquartered in Loyal, Wisconsin. The bank operates five full-service branches across Central Wisconsin (Loyal, Granton, Neillsville, Spencer, and Marshfield), all offering Saturday morning drive-up hours, and serves three primary customer segments: individual consumers, small-to-medium-sized businesses, and agricultural operations. Leadership sits under President and CEO Travis Holt, with Chief Lending Officer Joshua Burgess and CFO Deanna Krultz overseeing the lending and finance functions respectively. The holding company, Citizens Bancshares of Loyal, was formed in 1985 and has more than 200 stockholders, most residing in Wisconsin, which insures continued independence.

The product set spans personal deposit accounts (CSB Free Checking, Loyal Rewards Checking paying 0.75% APY on balances up to $20,000, CSB Personal NOW, CSB Savings, CSB Money Market, CDs from 6 to 60 months, Traditional/Roth/SEP IRAs, HSA, and Christmas Savings), consumer mortgage products (conventional, construction, home improvement, refinancing, HELOCs, vacant land, and WHEDA-backed loans), a tiered business deposit franchise (CSB Small Business Checking, CSB Business Checking with earnings credit, CSB Business Checking Plus, and Business Money Market), commercial loans and lease financing, and a dedicated agricultural lending suite including Ag Operating Lines of Credit, Ag Real Estate Loans, and Equipment Financing delivered through USDA FSA preferred-lender, SBA, WBD, and WHEDA programs. Digital delivery runs on a third-party hosted online banking platform (2secure.ufsdata.com) with dedicated iOS and Android apps for consumer and business users, mobile deposit, mobile wallet tokenization across Apple/Google/Samsung, ACH origination, Positive Pay check fraud prevention, Remote Deposit Capture, and an encrypted Secure Message Center for sensitive communications. Merchant card processing is offered through a Clover partnership.

Revenue is generated primarily through net interest income on the loan portfolio, supplemented by deposit account maintenance and transaction fees, interchange from Visa debit and credit cards, fees from cash management services (ACH, Positive Pay, RDC, merchant processing), spread on government-backed loan programs, and fee-based investment advisory services delivered through two in-house registered investment advisors. Pricing is grounded in tiered fee schedules, CD term deposits, and community-level rate competition; specific loan rates are not publicly disclosed. Marketing is largely community-based, anchored by the bank's independence, Saturday access, government-program access, and the Chatty Belle® fraud awareness campaign in partnership with Central Wisconsin Broadcasting.

Name

Citizens State Bank of Loyal

Legal name

Citizens State Bank of Loyal

Website

https://csbloyal.com

Company type

Private

Founded year

1909

Operating status

Operating

Headcount range

11–50 employees

Short description

Citizens State Bank of Loyal is an FDIC-insured, independently owned community bank founded in 1909 serving individuals, small businesses, and agricultural customers across Central Wisconsin through five branch locations, digital and mobile banking channels, and government-backed lending partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

St Louis

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The bank generates primary revenue through interest earned on various loan products including mortgages, agricultural loans, commercial loans, consumer loans, and construction loans. Interest rates are set periodically and vary by loan type and term.
2. Deposit Account Fees and Charges: Monthly maintenance fees on certain accounts (CSB Savings $5/month below $100 balance, CSB Money Market $14/month below $1000 balance), transaction fees for business accounts exceeding free transaction limits, and overdraft protection fees subject to credit approval.
3. Business Checking Earnings Credit: CSB Business Checking accounts offer earnings credit that can offset maintenance fees based on deposit balances. The earnings credit rate is established periodically by the bank.
4. Debit and Credit Card Interchange: Revenue from debit card transactions and credit card services including Visa credit cards offered through a third-party provider with points and rewards programs.
5. Check Ordering Services: Check reordering services through partner Bank-A-Count. Contactless and convenient check ordering for existing customers.
6. Cash Management Services: ACH origination services, Positive Pay fraud protection, remote deposit capture, and merchant credit card processing. Fees for these commercial cash management services help businesses manage cash flow efficiently.
7. Agricultural and Government Program Financing: Farm operating lines, farm real estate loans, equipment financing, and assistance securing USDA Farm Service Agency, SBA, WHEDA, and WBD financing programs.
8. Interest on Deposits: Interest paid to depositors on savings, money market accounts, NOW accounts, CDs, and IRA accounts. Competitive rates vary by account type and balance tier.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Citizens State Bank of Loyal is a community bank that provides deposit accounts, consumer and commercial loans, agricultural financing, and digital banking services through five branch locations in Central Wisconsin. The bank earns revenue primarily through net interest income on loans and deposit-related fees, supplemented by cash management, merchant card processing, and investment advisory services offered through its Financial Services division.

Product overview

Citizens State Bank of Loyal is a community bank offering a comprehensive suite of banking products and services through multiple delivery channels. The bank provides personal banking products including checking accounts (Loyal Rewards Checking with competitive APY and ATM refunds, CSB Free Checking, and CSB Personal NOW Account), savings accounts (CSB Savings, CSB Money Market, and Certificate of Deposit with terms from 6 to 60 months), retirement accounts (Traditional IRA, Roth IRA, SEP IRA, and Coverdell Education Savings Account), Health Savings Accounts, and Christmas Savings. Mortgage products through the Mortgage Center include conventional fixed rate loans, home improvement loans, construction loans, refinancing, HELOCs, vacant land loans, and WHEDA government-backed loans. Business banking services encompass multiple checking account tiers (Small Business Checking, Business Checking, Business Checking Plus), Business Money Market accounts, commercial loans, and comprehensive Cash Management Services including ACH Origination, Positive Pay, Remote Deposit Capture, and Merchant Credit Card Processing. Agricultural banking services include specialized Ag Checking, operating lines of credit, real estate loans, and equipment financing. Digital banking is delivered through Personal Online Banking, Business Online Banking, Mobile Banking App, Business Mobile App, Mobile Deposit, Mobile Wallet (Apple/Google/Samsung), E-Statements, and Bill Pay. Additional services include investment advisory through Financial Services, Secure Message Center for encrypted communications, and various calculators for loan, savings, retirement, and tuition planning.

Differentiator

Problem solved

Functional benefit

Products and services

• Loyal Rewards Checking Interest-bearing personal checking account paying 0.75% APY on balances up to $20,000 with nationwide ATM fee refunds, requiring 10 debit card purchases, 1 direct deposit or ACH, and eStatement enrollment per cycle.
• CSB Free Checking Basic no-monthly-fee personal checking account with a $50 minimum opening deposit, debit card availability, and overdraft protection options.
• CSB Personal NOW Account Interest-earning personal checking account with $1,000 minimum daily balance to avoid the $7 monthly maintenance charge and earn interest.
• CSB Savings Account Personal savings account with $100 minimum opening balance, daily interest calculation and quarterly compounding, plus ATM card availability.
• CSB Money Market Account Money market savings account with $1,000 minimum, variable tiered interest rates up to 1.71% APY at $250,000+, check availability, and waived fees with minimum balance.
• Certificate of Deposit Time deposit accounts with 6- to 60-month terms, $1,000 minimum opening deposit, tiered APYs up to 3.85%, and early withdrawal penalties.
• Christmas Savings Account Seasonal savings account with $10 minimum opening, no maintenance fees, and annual payout of principal plus interest in October.
• Health Savings Account (HSA) Tax-exempt health savings account for qualified medical expenses with $100 opening balance, free HSA debit card, interest compounded quarterly, and $5,000 minimum to waive the $3 monthly fee.
• Traditional IRA Tax-deferred individual retirement account allowing pre-tax contributions for retirement accumulation with $200 minimum deposit and quarterly interest compounding.
• Roth IRA Individual retirement account with nondeductible contributions and tax-free earnings growth for qualified retirement distributions.
• SEP IRA Simplified Employee Pension IRA allowing employer contributions toward retirement for business owners and eligible employees.
• Coverdell Education Savings Account Nondeductible education savings account providing tax-free withdrawals for qualified elementary, secondary, and higher education expenses.
• Mortgage Center Comprehensive residential mortgage lending including conventional fixed-rate loans, home improvement loans, construction loans, refinancing, HELOCs, vacant land loans, and WHEDA government-backed loans, applied for online.
• Debit Cards VISA debit cards linked to checking accounts with EMV chip security, 24/7 Shazam fraud monitoring, and Apple/Google/Samsung mobile wallet compatibility.
• Credit Cards VISA credit cards available in basic and rewards-earning variants, with online account management through MyCardStatement and ScoreCard Rewards.
• CSB Small Business Checking Small business checking account with no monthly maintenance fee, no minimum balance, free deposits, and 150 free debit transactions ($0.30 per debit thereafter).
• CSB Business Checking Business checking account with earnings credit to offset fees, $1,000 minimum to avoid $10 monthly maintenance, free ACH and on-us deposits, and tiered transaction fees.
• CSB Business Checking Plus Interest-earning business checking account with 150 free debit transactions and a $1,000 minimum balance requirement.
• Business Money Market Business money market account requiring a $1,000 minimum balance, offering variable tiered interest rates, daily interest calculation, and check availability.
• Business Loans Commercial lending ranging from small operating loans to large commercial real estate projects, with connections to SBA, Wisconsin Business Development, and WHEDA government lending programs.
• Lease Financing Equipment lease financing for agriculture, manufacturing, restaurant, hospitality, commercial, medical, construction, municipal, and school operations with 100% financing options.
• Cash Management Services Comprehensive business cash management including Business Online Banking, ACH Origination, Positive Pay, Remote Deposit Capture, and Merchant Credit Card Processing.
• ACH Origination Services Electronic payment processing via the ACH network enabling streamlined payables and receivables with control over effective dates for collections and disbursements.
• Positive Pay Check reconciliation service matching issued checks against in-clearing items, providing daily exception reports and pay-or-return decision capability to prevent check fraud.
• Remote Deposit Capture Electronic deposit service allowing businesses to scan and send check images from their office using a desktop scanner, with immediate provisional credit.
• Merchant Credit Card Processing Credit card processing services for merchants through the Clover partnership with competitive pricing.
• Free Ag Checking Business checking account tailored for active farmers with a $100 opening deposit, no minimum balance requirement, debit card, and unlimited check writing.
• Ag Operating Lines of Credit Customized credit lines for agribusiness customers to manage cash flow throughout the year for total farm operating needs or short-term requirements.
• Ag Real Estate Loans Farm real estate financing for purchasing land, refinancing, new construction, and building improvements with flexible rates and terms.
• Equipment Financing Equipment financing for new or used machinery with flexible repayment terms and FSA-guaranteed loan options.
• State and Federal Agricultural Programs Government program financing coordination through USDA Farm Service Agency preferred-lender status, SBA, Wisconsin Business Development, and WHEDA.
• Personal Online Banking Secure web-based online banking enabling consumers to view balances and history, access e-statements, transfer funds, pay bills, make loan payments, set alerts, and deposit checks via mobile device.
• Business Online Banking Commercial online banking platform enabling businesses to manage accounts, transfer funds, make loan and bill payments, view e-statements, and manage multiple users with varying access levels.
• Mobile Banking App Secure mobile banking application for iOS and Android providing consumer account access, mobile deposits, and banking management on the go.
• Business Mobile App Mobile banking application for business clients enabling fund management, balance checking, and bill payments from anywhere with enhanced security and multiple user access levels.
• Bill Pay Online bill payment service allowing customers to pay any US company or person electronically or by check, with eBills, AutoPay, and 84 months of payment history.
• E-Statements Electronic statement delivery providing secure access to 12 months of statement history with email notifications when statements are ready.
• Financial Services Registered investment advisory services provided by Travis Holt and Donny Snyder through the CSB Loyal CFS platform for retirement planning and investment management.
• Check Orders Check reordering service through Bank-A-Count partner enabling convenient check ordering directly through the bank website.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• USDA Farm Service AgencycoreStrategic or Co-development PartnerCitizens State Bank of Loyal is a USDA Farm Service Agency preferred lender. The bank works with FSA to help agricultural clients secure financing through government farm programs. This partnership enables the bank to offer FSA guaranteed loans to farmers for equipment and operations.
• Wisconsin Business Development (WBD)coreStrategic or Co-development PartnerThe bank works in connection with Wisconsin Business Development to help obtain the right financing for business clients. WBD provides access to state-level economic development programs and resources.
• Small Business Administration (SBA)coreStrategic or Co-development PartnerCitizens State Bank of Loyal works with the SBA to help business clients obtain financing through SBA lending programs. The bank assists in securing SBA loans for small business growth and operations.
• Wisconsin Housing and Economic Development Authority (WHEDA)coreStrategic or Co-development PartnerThe bank partners with WHEDA to offer mortgage financing options for home purchases, including lower down payment options, down payment assistance, and flexible credit qualifications. Also offers WHEDA loans and participates in Downpayment Plus Program with FHLB Chicago.
• Federal Home Loan Bank of Chicago (FHLB)coreStrategic or Co-development PartnerPartnership with FHLB Chicago enables the Downpayment Plus Program (DPP), which provides down payment and closing cost assistance for income-eligible homebuyers in the form of a forgivable grant.
• Bank-A-CountminorChannel Partner/ Reseller/ DistributorCheck reordering services provided through partner Bank-A-Count. Customers can conveniently order checks directly through the bank's website via this partner relationship.
• Central Wisconsin BroadcastingminorGTM or Marketing PartnerPartnership with Central Wisconsin Broadcasting to utilize Chatty Belle, the World's Largest Talking Cow, for fraud awareness and educational content. Chatty Belle is a registered trademark of Central Wisconsin Broadcasting and is used with permission for security awareness outreach.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Nicolet Bankshares: Wisconsin community bank with comparable consumer/SMB/ag lending focus and multiple Wisconsin branches, including markets that overlap with Central Wisconsin. Operates a similar relationship-driven community banking model.
• Bank First Corporation: Wisconsin-based community bank holding company with a similar branch-led model targeting consumers, small businesses, and ag borrowers. Comparable in product breadth (deposits, mortgages, business loans) and in mid-sized Wisconsin market presence.
• Peoples State Bank: Wisconsin-based community bank with a multi-branch footprint and consumer/business/ag lending focus; overlaps with CSB Loyal's Central Wisconsin geography and product set.
• Waterstone Financial (Forward Financial legacy): Wisconsin community bank and mortgage originator serving similar consumer and small-business customers. Overlaps in deposit products and residential lending.
• Citizens Community Federal: Wisconsin-headquartered community bank (mutual holding structure) with consumer and small-business banking focus across the Upper Midwest. Comparable size and rural Wisconsin footprint.
• Hometown Bank (Wisconsin): Wisconsin community bank with similar deposit and lending products targeting rural and small-town customers. Comparable in scale and customer profile.

Broad incumbents

• Compeer Financial: Farm Credit System cooperative lending institution serving agriculture across Wisconsin, Minnesota, and Illinois. Competes directly for ag operating, real estate, and equipment loans in the same Wisconsin farming communities.

Emerging players

• Royal Credit Union: Large Wisconsin-based credit union with similar consumer and small-business product set and a strong digital platform. Competes with CSB Loyal for retail deposits and consumer loans across Western and Central Wisconsin.
• Summit Credit Union: Wisconsin credit union offering consumer and SMB banking with strong digital channels. Represents the credit union alternative competing with CSB Loyal for retail deposits in its footprint.

Regional players

• Investors Community Bank: Wisconsin community bank with strong agribusiness and commercial banking focus, headquartered in Manitowoc. Comparable in ag lending emphasis and Wisconsin customer base, though serving different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Citizens State Bank of Loyal