Grundy Bank

Name

Grundy Bank

Legal name

Grundy Bank

Website

https://grundy.bank

Company type

Private

Founded year

1864

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), Financial Inclusion & Basic Banking (Unbanked/Underbanked, Low-Fee Accounts) (FSABAAAL)

Keywords

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

Headquarters

HQ city

Morris

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from consumer loans, mortgage loans, commercial loans, and agricultural loans minus interest paid on deposits. Core revenue driver for the bank.
2. Deposit Account Fees: Monthly service fees on accounts that fall below minimum balance requirements, paper statement fees, and overdraft protection fees
3. Loan Origination and Servicing: Fees from mortgage originations, commercial loans, consumer loans, and，农业 loans. The bank retains servicing on conventional mortgage loans.
4. Wealth Management and Investment Products: Referrals to LPL Financial for securities and advisory services; insurance products offered through LPL affiliates
5. Merchant Services: Revenue sharing from CardConnect payment processing services for business clients accepting card payments
6. Wire Transfer and Convenience Fees: $25 outgoing domestic wire fees, $15 incoming domestic wire fees, $5 cashier's check fees, foreign currency conversion fees

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Grundy Bank is a community bank offering personal and business deposit products (Hometown Checking, Hometown Savings, money market, CDs, ICS/CDARS), debit cards, consumer and commercial loans (including agricultural lending), residential mortgages, and supporting digital services such as online and mobile banking, Zelle, and Business Cash Management. The bank also delivers wealth management through its Grundy Investments division (LPL Financial referral), merchant services via CardConnect, Positive Pay fraud protection, and a Community Financial Literacy program for local schools.

Product overview

Grundy Bank is a community bank offering a comprehensive suite of personal and business banking products. The core offerings include multiple checking and savings account variants (Hometown Checking, Hometown Savings, CDs), debit cards, and lending products (consumer loans, mortgage loans, commercial loans). Additional services include wealth management through LPL Financial, merchant services via CardConnect, Cash Management Solutions for businesses, Positive Pay fraud protection, Online and Mobile Banking platforms powered by Fiserv, and Zelle peer-to-peer payments. The bank also provides specialized programs like ICS/CDARS for FDIC insurance expansion, Financial Literacy initiatives, and traditional services like wire transfers, safe deposit boxes, and foreign currency exchange.

Differentiator

Problem solved

Functional benefit

Brands

• Grundy Investments: Wealth management and investment services offered through LPL Financial, providing stocks, bonds, mutual funds, insurance products, and retirement planning.

Products and services

• Hometown Checking Full-service personal checking account available in multiple variants (Hometown Checking, Student Checking with ATM fee refunds, Now Checking with tiered interest, No Overdraft Checking with fee protection, Image Checking, and Money Market options) for individual consumers and families, featuring complimentary Visa debit card, free online and mobile banking, and free bill pay.
• Hometown Savings Personal savings account with 6 free withdrawals per quarter and interest-bearing options, including Kids Club Savings for children 18 and under with complimentary piggy bank and prize rewards, and Card 24 Savings with 2 free monthly withdrawals.
• Certificate of Deposit (CD) Fixed-rate CD with terms from 3 months to 5 years, interest compounded semi-annually, FDIC insured up to $250,000, with $500 minimum for 3-month terms and $1,000 minimum for terms of 6 months or longer.
• ICS and CDARS Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS) that extend FDIC insurance coverage for multi-million dollar deposits while maintaining a single-bank relationship and supporting local community lending.
• Debit Cards Instant issue debit cards with fraud detection alerts, travel notifications, mobile card management through CardHub, $1,000 daily cash limit, and $5,000 POS limit for personal and business account holders.
• Consumer Loans Personal lending products including home equity lines of credit and loans, vehicle loans for automobiles boats and RVs, secured and unsecured personal loans, cash secured loans, and Supercheck overdraft protection for individual borrowers.
• Mortgage Loans Residential mortgage programs including conventional first mortgages, fixed second mortgages, FHA, VA, and USDA loans for home purchases, refinancing, land/lot loans, and construction loans, with the bank retaining servicing on conventional loans.
• Business Checking Business checking accounts including standard Business Checking with no minimum balance, Business NOW with interest, complimentary Visa debit card, payroll processing, and direct deposit for small and medium businesses.
• Business Savings Business Money Market account with $2,500 minimum to open and avoid monthly fee with tiered interest rates, and Corporate Savings with $300 minimum balance requirement.
• Commercial Loans Commercial lending products including lines of credit, equipment loans, commercial real estate loans, accounts receivable lending via ProfitStars Business Manager, and agricultural loans for local businesses and farms.
• Grundy Investments Wealth Management Investment products and services offered through LPL Financial, including stocks, bonds, mutual funds, insurance products, individual retirement plans, and 401K transition assistance, delivered under the Grundy Investments sub-brand.
• Merchant Services Payment processing solutions via the CardConnect CardPointe platform supporting Visa, MasterCard, Amex, Discover, debit, ACH, EBT, gift cards, and NFC (Apple Pay) with interchange optimization for lowest rates for business merchants.
• Cash Management Solutions Business banking tools including Business Online Banking with 24/7 access, payroll processing and direct deposit, remote deposit capture, ACH origination, wire transfers, night deposit, business credit cards, e-Statements, and DIGIPASS soft-token security.
• Positive Pay Check fraud protection tool integrated with online banking that cross-references presented checks against a business-issued check list to identify discrepancies and prevent unauthorized transactions for business clients.
• Online Banking Free online banking platform providing 24/7 account access, fund transfers, bill pay, Zelle money transfer, e-Statements, and real-time account alerts with customizable notifications for consumer and business customers.
• Mobile Banking Mobile banking app for iOS and Android powered by Fiserv, offering account access, real-time alerts, CardHub card management, mobile deposit, Instant Balance viewing, and mobile wallet support for consumer and business customers.
• Zelle Peer-to-peer payment service integrated with online and mobile banking enabling fast money transfers to friends and family using email or U.S. mobile number, with no transaction fees.
• Other Services Additional banking services including wire transfers ($25 outgoing domestic, $15 incoming domestic), BankPhone 24 automated phone banking, safe deposit boxes, foreign currency exchange, cashier's checks ($5), and notary services.

Quantifiable outcome

• Serving Grundy County and southern Will County for over 160 years with continuous operation since 1864
• +2 more outcomes

Segments4 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

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Early Warning Services (Zelle)coreTechnology or Integration · 31 March 2025Zelle peer-to-peer payment integration in online and mobile banking. Enables customers to send and receive money directly from their bank accounts using email or mobile number. No fees for Zelle transactions.
• LPL FinancialcoreGTM or Marketing PartnerGrundy Investments referral partnership with LPL Financial for securities and advisory services. Registered representatives offer stocks, bonds, mutual funds, insurance products, and retirement planning through LPL. Revenue sharing arrangement for customer referrals.
• FiservcoreTechnology or IntegrationProvides mobile banking app technology and online banking platform (Mobiliti). Powers the Grundy Bank mobile app for iOS and Android with account access, mobile deposits, transfers, and card management features.
• CardConnectcoreTechnology or IntegrationPayment processing technology partnership for merchant services. CardPointe platform enables businesses to accept Visa, MasterCard, Amex, Discover, debit, ACH, EBT, gift cards, and NFC (Apple Pay) payments. Includes interchange optimization for lowest rates.
• ICS/CDARSminorOthersInsured Cash Sweep (ICS) and Certificate of Deposit Account Registry Service (CDARS) for multi-million dollar FDIC insurance coverage while keeping deposits at a single community bank relationship.

Scale indicators8 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Heartland Bank and Trust Company: Illinois community bank with a similar personal/business banking, agricultural lending, and wealth management product mix. Comparable sales-led GTM with local decision-making and multiple branches in central and northern Illinois.
• HomeStar Bank and Financial Services: Illinois community bank serving Grundy-area counties with a comparable product set (deposits, consumer/mortgage/commercial loans, wealth). Closely aligned community banking model and footprint overlap make it a direct comparator.
• First National Bank of Ottawa: Closely comparable community bank headquartered in adjacent LaSalle County, IL, serving a similar small-market Illinois footprint with personal/business banking, mortgage, and commercial lending. Operates with the same relationship-driven, community-bank value proposition as Grundy Bank.

Others

• Fiserv: Core technology provider powering Grundy's mobile and online banking platform. Not a competitor, but a critical enabler of the bank's digital capabilities and a relevant external reference for assessing its channel economics.

Broad incumbents

• Busey Bank: Larger Illinois-based community/regional bank with a much broader branch network. Overlaps with Grundy on personal, business, mortgage, and wealth management but offers scale, treasury management, and capital markets products beyond a small community bank's reach.
• First Mid Bank & Trust: Mid-size Illinois community/regional bank with comparable deposit, lending, mortgage, and wealth product sets. Competes for similar SMB and consumer customers in central Illinois with deeper resources and broader geographic reach.
• Wintrust Community Banks: Chicago-based multi-bank holding company operating a network of community banks across Illinois and Wisconsin. Directly relevant as a like-for-like community banking operator that has pursued a 'keep-it-local' strategy while offering far greater product depth.
• Old National Bank: Large Midwest regional bank formed in part by Illinois community bank rollups. Competes with Grundy in commercial, agricultural, and consumer banking across northern Illinois with substantially greater scale and capital.
• Midland States Bank: Midwest-based community/regional bank with a comparable product set across deposits, commercial, mortgage, and wealth. Competitor for commercial and ag lending in northern Illinois with a meaningfully larger asset base.

Regional players

• 1st Source Bank: Indiana-headquartered community/regional bank with a similar relationship-driven commercial and consumer banking model. Comparable in philosophy if not geography, making it a useful regional benchmark for community banking economics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/grundybank
• Facebookfacebook.com/grundybank
• Instagraminstagram.com/grundybank

Compliance5 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 Grundy Bank