The Upstate National Bank

What The Upstate National Bank does

The Upstate National Bank is a privately held, nationally chartered community bank founded in 1922 and headquartered in Rochester, New York. It operates five branches across Upstate New York — Rochester (main office), Buffalo, Syracuse, Ogdensburg, and Philadelphia — serving small and medium-size businesses, entrepreneurs, real estate investors and professionals, and individual consumers. The bank delivers traditional depository products (personal checking, money market accounts, savings, certificates of deposit, debit cards) alongside a full-service commercial lending franchise that includes commercial real estate financing, business loans, SBA-backed lending, and a notably broad alternative lending suite targeting real estate investors (ARV Pro, Fix & Flip, Flex Term/I-O, Bridge, Foreign Investor, 100% Premier, Fast 50, construction lines of credit, multi-family, rental, and BPO loans).

The bank runs its digital channels on the Jack Henry core platform, with iOS and Android mobile apps, online banking with bill pay and ACH external transfers, mobile check deposit (DepositGo), business Remote Deposit Capture, and a LoanPay service for external loan payments powered by a CheckAlt partnership. Free ATM access is provided through the Allpoint network of over 50,000 ATMs. The bank is FDIC-insured and led by George Karfunkel as Chairman of the Board.

Revenue is generated primarily through net interest income on the loan portfolio (commercial real estate, business, personal, and alternative lending) and deposit-spread income on money market and CD products (with consumer CDs yielding 3.40-3.50% APY at the minimum tier and 3.65-3.85% APY at the $50K+ tier as of mid-2026), supplemented by transaction and account fees. The go-to-market is relationship-led through the branch network and complemented by self-serve digital channels; no public revenue, funding, or ownership disclosure is available.

Name

The Upstate National Bank

Legal name

The Upstate National Bank

Website

https://upstatebank.com

Company type

Private

Founded year

1922

Operating status

Operating

Headcount range

11–50 employees

Short description

The Upstate National Bank is a nationally chartered community bank founded in 1922, headquartered in Rochester, NY. It operates five branches across Upstate New York, providing personal and business banking, commercial lending, SBA loans, and a specialized alternative lending suite for real estate investors.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Real Estate (Commercial Property, REITs) (FSABACAH)

akta.pro secondary industry

Middle-Market Lending (FSANADAI)

Keywords

• Community banking services
• Commercial real estate lending
• Alternative real estate financing
• Small business lending
• Personal deposit accounts

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest on commercial real estate loans, business loans, personal loans, and alternative lending products including ARV Pro loans, Flex Term loans, Fix & Flip loans
2. Deposit Account Fees and Interest: Revenue from money market deposit accounts, certificates of deposit, and personal/business checking accounts with competitive APY rates
3. Banking Service Fees: Fees from processing transactions, maintaining accounts, and other everyday banking services

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

The Upstate National Bank is a federally chartered community bank offering personal deposit accounts, consumer loans, commercial banking and lending, commercial real estate financing, SBA-backed business loans, and a specialized suite of alternative real estate investment loans. Services are delivered through five Upstate New York branches (Rochester, Buffalo, Syracuse, Ogdensburg, Philadelphia), an iOS/Android mobile app, and a web-based online banking platform.

Product overview

The Upstate National Bank offers a comprehensive banking platform combining traditional personal and business banking services with specialized alternative lending products. The core offering includes personal checking, savings, CDs, and debit cards integrated with digital banking through Upstate Online Banking and a mobile banking app. Business services encompass commercial banking, commercial lending, and SBA loans. The bank's alternative lending division provides specialized real estate investment financing including fix-and-flip loans (ARV Pro, Fix & Flip, 100% Premier), bridge financing, construction lines of credit, multi-family loans, and foreign investor loans. Digital services include LoanPay for loan payments, DepositGo for mobile check deposits, Remote Deposit Capture for business, and ACH external transfers. The products work together as a unified banking platform serving individuals, businesses, and real estate investors throughout Upstate New York.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Free personal checking accounts with multiple options to suit different customer needs and situations.
• Money Market and Savings Accounts Interest-earning savings products offering competitive APYs across consumer and business money market and savings account tiers.
• Certificates of Deposit (CDs) Fixed-term certificates of deposit (12, 18, and 24 months) at minimum $1,000 and $50,000 tiers, allowing customers to earn more interest over fixed terms with early-withdrawal penalties.
• Debit Card Bank debit card offering free cash withdrawals from more than 50,000 Allpoint ATMs nationally.
• Upstate Online Banking Web-based digital banking platform for 24/7 account access, bill payment, fund transfers, e-statements, ACH external transfers, and Insights financial management tools.
• Upstate National Bank Mobile Banking App Mobile application for iPhone and Android offering secure account access, mobile deposits, bill payments, debit card controls, and financial management tools.
• LoanPay Service that allows customers to securely make loan payments from any institution with a valid ABA routing number; powered by CheckAlt partnership and processed as e-checks.
• DepositGo Mobile check deposit application for iPhone and Android smartphones enabling customers to deposit checks remotely using the device camera.
• Remote Deposit Capture Business service allowing clients to securely scan and transmit check images for deposit from their office; designed for clients depositing more than 25 checks per month.
• Personal Loan Products Unsecured and secured personal loans, co-signed and joint loans, and personal lines of credit for debt consolidation, major purchases, and unexpected expenses.
• Commercial Banking Business banking solutions including dedicated business accounts, deposit services, equipment financing, and letters of credit tailored for enterprises of all sizes.
• Commercial Lending Business financing including commercial real estate loans, business lines of credit, working capital solutions, equipment financing, and letters of credit.
• Commercial Real Estate Financing Permanent mortgages for investment and owner-occupied properties, construction financing, and standby letters of credit for home builders and developers.
• Business Loans Personalized business lending programs providing capital financing for new and existing businesses.
• SBA Loans Small Business Administration loans funded by Upstate National Bank for small business owners requiring competitive-rate financing.
• ARV Pro Loans Short-term, interest-only fix-and-flip loans for real estate investors needing capital to acquire and improve properties.
• Flex Term Loans Customized flexible loans meeting the specific needs of any real estate investor with adaptable terms.
• Flex I/O Loans Short-term, interest-only loans ideal for real estate investors, typically lasting 24 months or less.
• Foreign Investor Loans Financing programs enabling foreign real estate investors to secure funding for U.S. property investments.
• Fast 50 Loans Loans with simple credit requirements for investors with credit issues, recent bankruptcy, or notice of default.
• Fix & Flip Loans Short-term financing for real estate investors to purchase, renovate, and sell properties for profit.
• 100% Premier Loans Fix-to-flip or fix-to-rent loans allowing funding up to 100% of purchase price plus rehab costs, up to 70% ARV, requiring a 620+ credit score.
• Construction Lines of Credit Flexible financing for construction projects with draw-based access to funds and interest-only payments on withdrawn amounts.
• Bridge Loans Short-term gap financing for property purchase or renovation pending sale or longer-term loan approval.
• Multi-Family Loans Financing for purchase or refinance of residential properties with multiple families, including duplexes, triplexes, and apartment complexes.
• New Construction Loans Short-term financing for construction of new commercial or residential buildings, converted to a permanent mortgage upon completion.
• Rental Property Loans Financing for purchasing, developing, renovating, or refinancing rental investment properties.
• Short-Term Loans Quick-access financing for small amounts expected to be repaid within weeks to months, with underwriting focused on income and repayment ability.
• BPO Loans Loans using a Broker Price Opinion instead of a full property appraisal for determining loan amount and terms.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• CheckAltcoreTechnology or IntegrationStrategic partnership with CheckAlt for LoanPay service allowing customers to make loan payments from any institution with a valid ABA routing number. All payments processed as e-checks instead of ACH, providing flexibility with payment processing times.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Broad incumbents

• KeyBank: Large regional bank with significant Upstate NY branch network, providing consumer and commercial banking including CRE lending. Competes head-to-head for SMB and real estate investor customers.
• Berkshire Bank: Northeast-focused regional bank offering community-style banking, commercial lending, and CRE financing across New York and New England. Comparable product mix and mid-sized community bank positioning.
• Citizens Bank: National super-regional bank with Upstate NY presence offering personal, small business, and commercial banking. Larger-scale competitor targeting the same SMB and real estate investor segments.
• M&T Bank: Major regional bank with deep Upstate NY presence, particularly in Buffalo and Rochester, offering the full spectrum of commercial, retail, and CRE banking. Direct competitor at scale for both consumer and business customers.

Regional players

• ESL Federal Credit Union: Large Rochester-headquartered credit union serving the greater Rochester/Upstate NY region with personal and business banking. Comparable regional footprint but operates as a member-owned cooperative rather than a chartered bank.

Direct peers

• Genesee Valley Group / Genesee Regional Bank: Rochester-area community banking organization with similar personal and business banking services plus commercial lending. Closely comparable size, Rochester market overlap, and community bank positioning.
• Five Star Bank: New York-chartered community bank headquartered in Warsaw, NY, serving Upstate and Western New York with similar personal banking, business banking, and mortgage/real estate lending products. Direct regional competitor in the same Upstate NY footprint.
• Canandaigua National Bank & Trust: Community bank headquartered in Canandaigua, NY with branches across the Finger Lakes and Western NY, offering personal banking, business banking, and lending including real estate products. Closely comparable size and Upstate NY market overlap.
• Chemung Canal Trust Company: New York-chartered community bank serving Upstate and Central NY with full personal and commercial banking plus real estate lending. Closely comparable scale, charter type, and product offerings.
• Tompkins Community Bank: Community bank with Upstate NY presence providing consumer and business banking, mortgages, and wealth services. Operates a similar community banking model with comparable product set and customer segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/upstate-bank
• Instagraminstagram.com/upstatenationalbank
• Facebookfacebook.com/theupstatebank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 The Upstate National Bank