State Bank of Toulon
State Bank of Toulon is a privately held, FDIC-insured community bank operating three branches in Toulon, Kewanee, and Galva, Illinois, serving local agricultural, residential, consumer, and commercial customers with full-service deposit, lending, and wealth management products.
- Company typePrivate
- Founded1903
- HeadquartersToulon, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What State Bank of Toulon does
State Bank of Toulon is a privately held, FDIC-insured community bank headquartered in Toulon, Illinois, operating three banking centers across Toulon, Kewanee, and Galva in Stark and Henry counties. The bank offers a full-service retail and commercial banking suite including multiple checking variants (Lock Checking, Key Checking, Red E-Account, Student & Senior Accounts, Business Checking), Passbook Savings, Certificates of Deposit, IRAs, and a Wealth Management division for investment and trust services. Its loan portfolio spans agricultural loans and leases (its 110+ year core competency), residential real estate mortgages, consumer and auto loans, commercial loans, and student loans, with underwriting decisions reportedly made locally rather than centrally.
The bank monetizes primarily through net interest income on its loan portfolio and deposit base, supplemented by transaction-based fee income from deposit account maintenance, wire transfers, merchant credit card processing, consumer and business credit cards, and debit card interchange. Its go-to-market is relationship-led, executed through physical branches, direct loan-officer outreach, phone banking, and a digitally augmented channel stack consisting of an online banking platform powered by FundsXpress, a free mobile banking app, mortgage origination via Epic River Finance, card servicing via MyCardStatement, and website operations managed by LKCS. Marketing is concentrated on its website (banksbt.bank), Facebook and Instagram community channels, and interactive financial education resources.
The bank's customer segments are horizontally distributed across agricultural customers (primary), residential real estate borrowers, consumer lending, commercial/business customers, students, and seniors, all served within its Illinois service area. The Quilo product, a digitally distributed responsible credit offering with fixed APR, fixed installments, no fees, and no credit score impact to apply, represents an extension of the product surface beyond the traditional community bank footprint.
State Bank of Toulon firmographics
Firmographics- Name
- State Bank of Toulon
- Legal name
- State Bank of Toulon
- Website
- https://statebankoftoulon.com
- Company type
- Private
- Founded year
- 1903
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- State Bank of Toulon is a privately held, FDIC-insured community bank operating three branches in Toulon, Kewanee, and Galva, Illinois, serving local agricultural, residential, consumer, and commercial customers with full-service deposit, lending, and wealth management products.
- Ownership category
- akta.pro rank
State Bank of Toulon industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
Keywords
Where State Bank of Toulon is headquartered
LocationHeadquarters
- HQ city
- Toulon
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
State Bank of Toulon business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income: Primary revenue from interest earned on loan portfolio including agricultural loans and leases, residential real estate loans, consumer and auto loans, commercial loans, and student loans.
- Deposit and Checking Fees: Fee income from various checking and savings account products including Lock Checking, Key Checking, Red E-Account, Business Checking, and Passbook Savings.
- Service Fees: Revenue from banking services including wire transfers, merchant credit card processing, consumer and business credit cards, and debit cards.
- Investment and Wealth Management: Revenue from investment and trust services offered through Wealth Management division.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Checking and Savings Account Products |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
State Bank of Toulon product offering
Product offeringCore offering
State Bank of Toulon is an FDIC-insured Illinois community bank providing deposit products (checking, savings, CDs, IRAs), loan products (agricultural, residential real estate, consumer/auto, commercial, and student loans), payment services (credit cards, debit cards, wire transfers, merchant processing), wealth management, and digital banking through online and mobile channels. It operates three banking centers in Toulon, Kewanee, and Galva, with over 110 years of agricultural lending experience serving local consumers, businesses, and farms.
Product overview
State Bank of Toulon is a community bank offering a comprehensive suite of banking products and financial services. The portfolio includes multiple checking account variants (Lock Checking, Key Checking, Red E-Account, Student & Senior Accounts, Business Checking), savings products (Passbook Savings, CDs, IRAs), and diverse loan offerings (Ag Loans & Leases with 110+ years of agriculture lending expertise, Residential Real Estate, Consumer & Auto Loans, Commercial Loans, Student Loans). The bank also provides digital banking services through Online Banking & Bill Pay and Mobile Banking platforms, payment services including Merchant Credit Card Program and wire transfers, card products (Credit Cards and Debit Cards), and Wealth Management/Investment Trust Services. Additionally, the bank offers Quilo, a responsible credit product with no credit score impact for applicants.
Differentiator
Problem solved
Functional benefit
Products and services
- Lock Checking A personal checking account product offered by State Bank of Toulon for everyday personal banking needs.
- Key Checking
- Red E-Account
- Student & Senior Accounts
- Business Checking
- Passbook Savings Account
- Certificates of Deposit
- IRAs
- Ag Loans & Leases
- Residential Real Estate Loans
- Consumer & Auto Loans
- Commercial Loans
- Student Loans
- Online Banking & Bill Pay
- Mobile Banking
- Merchant Credit Card Program
- Consumer & Business Credit Cards
- Debit Card
- Wire Transfers
- Wealth Management
- Quilo
Companies that use State Bank of Toulon
Customer profileSegments6 records
Ideal customer profiles4 records
State Bank of Toulon technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
State Bank of Toulon partnerships and signals
Strategic signalScale indicators1 record
Recent moves6 records
Expansion highlights4 records
State Bank of Toulon competitors and assessment
Company assessmentDirect peers
- Morton Community Bank: Illinois community bank with multi-branch presence, full-service deposit and loan offerings, and similar agricultural and small-business lending orientation. Closely matches State Bank of Toulon's scale and business model.
- BankOrion: Small Illinois community bank serving rural and small-town markets with deposit, ag, consumer, and commercial lending products. Comparable footprint size and customer segments to State Bank of Toulon.
- Tompkins Community Bank: Community-oriented bank offering full deposit, ag/commercial/consumer lending, and wealth services to small-town customers. Comparable small-footprint community banking model.
- Gifford State Bank: Small Illinois community bank with agricultural, consumer, and deposit services in rural central Illinois. Comparable in scale, geography, and product mix to State Bank of Toulon.
- Heartland Bank and Trust Company: Illinois-headquartered community bank offering deposit accounts, agricultural, commercial, and consumer lending across central Illinois. Directly comparable in geography, product mix, and small-business/ag lending focus.
- CNB Bank & Trust: Illinois-headquartered community bank offering deposit products, ag, commercial, and consumer lending. Similar multi-branch community bank model serving small Illinois towns.
- Spoon River Bank: Illinois-based community bank focused on agricultural and small-business lending in rural central Illinois. Highly comparable operating model and geographic orientation to State Bank of Toulon.
Broad incumbents
- First Merchants Bank: Midwest regional bank with commercial, ag, and community banking operations spanning Indiana and adjacent states. Provides context as a larger peer operating similar business lines.
- Midland States Bank: Midwest regional bank with significant Illinois presence offering full retail, ag, commercial, and wealth management services. Larger and broader incumbent that competes for similar customers across overlapping Illinois markets.
- Busey Bank: Illinois-headquartered regional bank offering retail, ag, commercial, mortgage, and wealth management across central Illinois. Larger incumbent with overlapping ag-lending and community-banking focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
State Bank of Toulon social profiles
Digital presenceState Bank of Toulon compliance and trust
Trust signalCompliance2 records
State Bank of Toulon financial estimates
Financial estimateRevenue estimate
Valuation estimate
State Bank of Toulon leadership team
Management profileNumber of profiles
State Bank of Toulon funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
State Bank of Toulon 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 State Bank of Toulon
What does State Bank of Toulon do?
State Bank of Toulon is an FDIC-insured Illinois community bank providing deposit products (checking, savings, CDs, IRAs), loan products (agricultural, residential real estate, consumer/auto, commercial, and student loans), payment services (credit cards, debit cards, wire transfers, merchant processing), wealth management, and digital banking through online and mobile channels. It operates three banking centers in Toulon, Kewanee, and Galva, with over 110 years of agricultural lending experience serving local consumers, businesses, and farms.
Is State Bank of Toulon a public or private company?
State Bank of Toulon is a private company. It is classified as unknown and is currently operating.
When was State Bank of Toulon founded?
State Bank of Toulon was founded in 1903. It employs 11 to 50 people.
Where is State Bank of Toulon based?
State Bank of Toulon is headquartered in Toulon, United States, in the North America region.
How does State Bank of Toulon make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are deposit and Checking Fees, service Fees and investment and Wealth Management.
Who are State Bank of Toulon's main competitors?
Direct peers on record are Morton Community Bank, BankOrion, Tompkins Community Bank, Gifford State Bank, Heartland Bank and Trust Company, CNB Bank & Trust and Spoon River Bank. Broad incumbents are First Merchants Bank, Midland States Bank and Busey Bank.
Does State Bank of Toulon have an API?
No public API is recorded for State Bank of Toulon.
What industry is State Bank of Toulon in?
State Bank of Toulon's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.