Key Community Bank
Key Community Bank is a privately held community bank founded in 1998, headquartered in Inver Grove Heights, Minnesota, serving individuals and small-to-medium-sized businesses in the Twin Cities metro with deposit, lending, and digital banking products.
- Company typePrivate
- Founded1998
- HeadquartersInver Grove Heights, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Key Community Bank does
Key Community Bank is a privately held community bank founded in 1998 and headquartered in Inver Grove Heights, Minnesota, serving the Twin Cities metropolitan area. The bank operates a single branch location (5684 Bishop Avenue) and offers a full suite of retail and commercial banking products to individuals and small-to-medium-sized businesses, including KASASA-branded reward checking and savings accounts, certificates of deposit, consumer loans, home equity lines of credit, mortgage lending, business loans and lines of credit, and personal and business credit cards. It also supports Apple Pay, Google Pay, and Samsung Pay, and operates a MoneyPass surcharge-free ATM network access arrangement.
The bank's technology stack is built on standard community banking infrastructure rather than proprietary platforms. Online banking is delivered through a secure web portal; mobile banking is provided via native iOS and Android apps offering mobile deposit, bill pay, and account alerts. Back-office and core integrations include ShareFile (secure document upload), ProfitStars SmartPay (remote deposit capture), Autobooks by Jack Henry (small business invoicing and payment collection), and the Shazam debit network. No AI/ML capabilities, developer APIs, or proprietary technology platforms are disclosed.
Commercially, Key Community Bank generates revenue primarily through net interest income on its loan and deposit portfolio (personal loans, HELOCs, mortgages, commercial loans, and credit facilities), supplemented by deposit account fees, wire transfer and service fees, credit/debit card interchange, and CD interest. Its go-to-market is sales-led and relationship-driven, relying on direct customer engagement, local word-of-mouth, community grant programs (notably through the FHLB Des Moines Member Impact Fund), and chamber-of-commerce memberships across River Heights, MetroNorth, and Anoka. The bank is privately held, has no parent company or disclosed institutional investors, and reports approximately $80 million in assets as of 2021 (per ICBA recognition). Leadership transitioned in November 2021 to Jason Erdman (President) and Mark Harris (SVP Chief Credit Officer), both recruited from Eagle Community Bank following its acquisition.
Key Community Bank firmographics
Firmographics- Name
- Key Community Bank
- Legal name
- Key Community Bank
- Website
- https://keycommunitybank.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Key Community Bank is a privately held community bank founded in 1998, headquartered in Inver Grove Heights, Minnesota, serving individuals and small-to-medium-sized businesses in the Twin Cities metro with deposit, lending, and digital banking products.
- Ownership category
- akta.pro rank
Key Community Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- 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
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Key Community Bank is headquartered
LocationHeadquarters
- HQ city
- Inver Grove Heights
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Key Community Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income: Primary revenue from interest earned on loans including personal loans, home equity lines of credit, mortgages, business loans, and commercial credit facilities. The bank offers competitive rates on various lending products.
- Deposit Account Fees: Fees from deposit accounts including maintenance fees, overdraft fees, and other account-related charges
- Service Fees: Revenue from wire transfers, official checks, notary services, and other banking service fees
- Credit Card Interchange: Interchange fees from debit and credit card transactions
- Certificate of Deposit Interest: Interest-bearing deposits for both personal and business customers with various term options
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Checking Accounts |
| Subscription | Monthly | Personal Savings Accounts |
| Subscription | Multi-year contract | Certificates of Deposit |
| Subscription | Monthly | Business Checking and Savings |
| Other | Monthly | Personal and Business Loans |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
Key Community Bank product offering
Product offeringCore offering
Key Community Bank provides FDIC-insured personal and business banking services, including checking, savings, certificates of deposit, consumer and mortgage loans, home equity lines of credit, and credit cards. It complements these with digital banking tools such as online banking, mobile banking, bill pay, and integrated small business accounting (Autobooks). The bank's offerings are targeted at individuals and small-to-medium-sized businesses in the Twin Cities metro area.
Product overview
Key Community Bank offers a comprehensive suite of community banking products and services organized across Personal Banking, Business Banking, and eServices divisions. The Personal Banking lineup centers on Kasasa-branded checking and savings products (KASASA Cash Checking, KASASA Cash Back Checking, and KASASA Saver) with rewards and ATM fee refunds, complemented by personal credit cards, certificates of deposit, consumer loans, home equity lines of credit, and mortgage lending. Business Banking provides business checking, business savings, business CDs, commercial loans and lines of credit, and business credit cards, with an Autobooks-powered small business accounting integration. eServices encompass Mobile Banking (iOS/Android app with mobile deposit, bill pay, and biometric login) and Online Banking with bill payment and e-statements. The bank also offers Everyday Rewards, a debit card cash-back program, alongside supporting services including wire transfers, secure file upload, debit card management, and personal financial statement processing. The overall portfolio reflects a community bank model focused on relationship banking for individuals and small businesses in the Twin Cities metro area.
Differentiator
Problem solved
Functional benefit
Brands
- KASASA: A rewards program offering Kasasa Cash Checking, Kasasa Cash Back Checking, and Kasasa Saver accounts with cash back and high-yield savings features.
- Key Community Bank Everyday Rewards
- MyCardRules
Products and services
- KASASA Cash Checking Free personal checking account that earns high yields via the KASASA rewards platform, targeting individual consumers in the Twin Cities area.
- KASASA Cash Back Checking Free personal checking account that returns a percentage of spending as cash back, designed for individual consumers.
- KASASA Saver Personal savings account linked to a KASASA checking account that earns higher-than-average yields, targeted at individual consumers.
- Personal Credit Cards Personal credit card products issued to individual consumers for everyday spending.
- Certificates of Deposit (Personal) Fixed-term personal deposit products that pay a stated interest rate over a specified term, targeted at individual savers.
- Consumer Loans & Home Equity Lines of Credit Lending products for personal use, including unsecured consumer loans and revolving home equity lines of credit secured by residential property.
- Mortgage Lending Residential mortgage products originated by the bank for individual home buyers and refinancers.
- Business Checking Checking account products tailored to small and mid-sized businesses for operational cash management.
- Business Savings Interest-bearing savings account for small and mid-sized businesses to hold reserve balances.
- Business Certificates of Deposit Fixed-term business deposit products paying a stated interest rate over a specified term.
- Business Loans & Lines of Credit Term loans and revolving lines of credit offered to small and mid-sized businesses for working capital, equipment, and expansion.
- Business Credit Cards Business credit card products for small and mid-sized businesses to manage operating expenses.
- Online & Mobile Banking Web and mobile banking services that allow personal and business customers to view balances, transfer funds, deposit checks, and pay bills.
- Autobooks Small Business Accounting Integrated accounting, invoicing, and payment tool embedded in the online banking platform for small business customers.
- Everyday Rewards Rewards program tied to debit card usage that provides benefits to personal banking customers.
- Wire Transfer Services Domestic and international wire transfer service available to personal and business customers.
Quantifiable outcome
- Ranked #7 nationally by ICBA for commercial loans among banks under $300M in assets
- +2 more outcomes
Companies that use Key Community Bank
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Key Community Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature6 records
Key Community Bank partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Federal Home Loan Bank of Des Moines (FHLB Des Moines)corePartnership through FHLB Des Moines Member Impact Fund program. Key Community Bank collaborates with FHLB Des Moines to provide grants to local community organizations including Soldier's 6 ($10,000 grant for service dogs for veterans) and Neighbors, Inc. ($10,000 grant for food, clothing, and emergency assistance). This partnership enables the bank to fulfill its community mission.
- BankIn MinnesotacoreMembership organization representing community banks in Minnesota. Key Community Bank received 25th anniversary recognition from BankIn Minnesota President & CEO Jim Amundson.
- River Heights Chamber of CommerceminorLocal chamber of commerce membership supporting business community in River Heights area
- MetroNorth Chamber of CommerceminorLocal chamber of commerce membership supporting business community in MetroNorth area
- Anoka Area Chamber of CommerceminorLocal chamber of commerce membership supporting business community in Anoka area
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Key Community Bank competitors and assessment
Company assessmentDirect peers
- First State Bank of Minnesota: First State Bank of Minnesota is a community bank providing personal and business banking services in Minnesota. Comparable in scale, geographic focus, and SMB lending emphasis.
- Lake Area Bank: Lake Area Bank is a small Minnesota-based community bank offering personal and business banking, lending, and digital services in a similar asset tier. Highly comparable on geographic footprint, SMB focus, and community bank operating model.
- Cornerstone Bank (Minnesota): Cornerstone Bank is a community bank operating in Minnesota with comparable asset tier and a focus on local SMB and consumer banking relationships.
- MinnStar Bank: MinnStar Bank is a Minnesota-based community bank with similar asset size serving local consumers and businesses. Comparable operating model, deposit gathering, and SMB commercial lending focus.
- Think Bank: Think Bank is a Minnesota-based community bank offering personal and business banking products to local customers. Similar asset scale, community focus, and SMB lending orientation.
- Eagle Community Bank: Eagle Community Bank was a Minnesota-based community bank serving small businesses and consumers that was acquired by a larger institution in May 2021. Both Key Community Bank's President (Jason Erdman) and Chief Credit Officer (Mark Harris) joined from Eagle, making it the most direct prior comparable for operating model, product mix, and SMB lending focus.
Broad incumbents
- Bremer Bank: Bremer Bank is a larger regional bank operating throughout Minnesota and the upper Midwest with a community banking ethos and broad personal/business banking product suite. Comparable mission and customer focus, though at substantially greater scale and branch footprint.
- U.S. Bank: U.S. Bank is a major national/regional bank with significant Twin Cities metro presence. Provides the competitive backdrop against which community banks like Key Community Bank compete for SMB and consumer deposits and lending.
Emerging players
- Brex: Brex is a fintech providing business banking, credit cards, and cash management targeting small and mid-sized businesses — Key Community Bank's primary customer segment. Represents the emerging competitive threat to community bank SMB relationships.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Key Community Bank social profiles
Digital presenceKey Community Bank compliance and trust
Trust signalCompliance3 records
Key Community Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Key Community Bank leadership team
Management profileNumber of profiles
Profiles3 records
Key Community Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Key Community Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Key Community Bank
What does Key Community Bank do?
Key Community Bank provides FDIC-insured personal and business banking services, including checking, savings, certificates of deposit, consumer and mortgage loans, home equity lines of credit, and credit cards. It complements these with digital banking tools such as online banking, mobile banking, bill pay, and integrated small business accounting (Autobooks). The bank's offerings are targeted at individuals and small-to-medium-sized businesses in the Twin Cities metro area.
Is Key Community Bank a public or private company?
Key Community Bank is a private company. It is classified as unknown and is currently operating.
When was Key Community Bank founded?
Key Community Bank was founded in 1998. It employs 11 to 50 people.
Where is Key Community Bank based?
Key Community Bank is headquartered in Inver Grove Heights, United States, in the North America region.
How does Key Community Bank make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees, service Fees, credit Card Interchange and certificate of Deposit Interest.
Who are Key Community Bank's main competitors?
Direct peers on record are First State Bank of Minnesota, Lake Area Bank, Cornerstone Bank (Minnesota), MinnStar Bank, Think Bank and Eagle Community Bank. Broad incumbents are Bremer Bank and U.S. Bank. Brex is listed as an emerging player.
Does Key Community Bank have an API?
No public API is recorded for Key Community Bank.
What industry is Key Community Bank in?
Key Community Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines). Its NAICS code is 52211 and its SIC code is 6022.