Turtle Mountain State Bank

What Turtle Mountain State Bank does

Turtle Mountain State Bank is a privately owned community bank headquartered in Belcourt, North Dakota, that opened on December 3, 2007 as the first privately owned Native American bank on a federally recognized Indian Reservation. It serves the Turtle Mountain Band of Chippewa Indians reservation with a focused suite of personal and business banking products, including multiple checking tiers (Turtle Mountain Checking, Mountain Top Checking, Senior Checking 55+, Money Market Checking), savings accounts (Turtle Mountain Savings, Mountain Top Savings), and a broad lending menu covering automobile, recreational vehicle, CD-secured, personal, business start-up, acquisition, construction, real estate, and SBA/BIA/FSA guaranteed loans, supplemented by an SSBCI-backed "New Beginnings" loan participation program developed in collaboration with TMBCI.

The bank runs on a Fiserv-powered core technology stack: a 128-bit encrypted browser-based internet banking platform (web15.secureinternetbank.com) with separate consumer and business login portals, paired with a Fiserv-powered mobile banking application on iOS and Android that supports real-time balances, transfers, bill pay, mobile check deposit, alerts, and card management. Zelle is integrated for P2P transfers. Distribution is anchored by a single main branch in Belcourt (relocated to a new downtown building in April 2012) plus a network of more than ten ATMs spanning Belcourt (Turtle Mountain College, Turtle Mountain Community High School, Turtle Mountain Community Middle School, Ojibwa Indian School, Turtle Mountain Mall, LaDots Convenience Store, LaDots Lounge, Ray Keplin Equine Center) and Rolla (Leever's Foods, Legacy Cooperative-Cenex).

Revenue mechanics are typical of a small community bank: net interest income from consumer and commercial loans is the primary driver, with non-interest income derived from transaction-based fees (per-check charges on business checking, $0.25 excess withdrawal fees, $5 monthly service charges below minimum balance thresholds) and deposit account services. The customer base is split between individual consumers, small/medium businesses on the reservation, and tribal community members, with a stated go-to-market of community-led engagement supported by youth sponsorships and a local scholarship program. Headcount is reported in the 11–50 range; the bank is privately held, FDIC-insured, and not publicly traded.

Name

Turtle Mountain State Bank

Legal name

Turtle Mountain State Bank

Website

https://tmstatebank.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Turtle Mountain State Bank is a privately owned community bank in Belcourt, North Dakota, founded in 2007 as the first Native American bank on a federally recognized reservation, serving individual consumers, small businesses, and tribal members of the Turtle Mountain Band of Chippewa Indians with personal and business checking, savings, loans, and digital banking.

Ownership category

akta.pro rank

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

• Community banking
• Personal banking
• Business lending
• Mobile banking
• Consumer deposits

Headquarters

HQ city

Belcourt

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The bank generates revenue primarily through interest earned on personal and business loans including automobile loans, recreational vehicle loans, personal loans, business start-up loans, business acquisition loans, construction loans, real estate loans, and SBA/BIA/FSA guaranteed loans.
2. Banking Fees and Service Charges: Revenue from various fee-based services including ATM fees, overdraft charges, monthly service charges (for certain account types like Mountain Top Checking with $5 monthly charge below $2,500 balance), check processing fees ($0.20 per check over 50 per month for Business Checking Option 1), and withdrawal fees.
3. Deposit Account Services: Revenue generated from deposit accounts including checking and savings accounts, money market accounts, with various fee structures depending on account type and balance requirements.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Turtle Mountain State Bank is a community bank operating in Belcourt, North Dakota, that provides personal and business banking services to the Turtle Mountain Band of Chippewa Indians reservation and surrounding trade area. Its offerings include personal and business checking and savings accounts, consumer and commercial loans (auto, RV, personal, business startup, acquisition, construction, real estate, SBA/BIA/FSA guaranteed), online and mobile banking, Zelle P2P transfers, ACH origination, wire transfers, and additional services such as notary and direct deposit.

Product overview

Turtle Mountain State Bank operates as a community bank offering a unified portfolio of banking products and services centered on personal and business financial services. The core offerings consist of Personal Banking Services (checking, savings, personal loans) and Business Banking Services (business checking, business savings, business loans), supported by digital channels including Online Banking (internet-based, 24/7 access) and a Mobile Banking App (powered by Fiserv). The bank supplements its core products with Zelle P2P transfers, an SSBCI-backed New Beginnings Loan Program for underserved communities, and additional services such as ACH origination, wire transfers, mobile deposit, and notary services. All deposit accounts are FDIC-insured, and the bank serves as the first privately owned Native American bank on a federally recognized Indian Reservation.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Services Comprehensive personal banking offering that bundles checking accounts, savings accounts, personal loans, and digital banking access for individual consumers on the Turtle Mountain reservation.
• Business Banking Services Suite of business banking products including business checking, business savings, business loans, ACH origination, wire transfers, and commercial banking services for small to mid-sized businesses.
• Online Banking Internet banking platform accessible 24/7 for viewing balances, reviewing transaction history, transferring funds between accounts, paying bills, downloading account data, and managing e-statements. Includes consumer and business login portals.
• Mobile Banking App Fiserv-powered mobile application for iOS and Android that allows users to view real-time account balances, make transfers, pay bills, deposit checks, view transactions and statements, manage cards, and receive alerts.
• Personal Checking Accounts Multiple checking account options including Turtle Mountain Checking, Checkless Checking, Mountain Top Checking, Senior Checking (55+), and Money Market Checking, with varying features, minimum balance requirements, and fee structures.
• Personal Savings Accounts Savings account options including Turtle Mountain Savings (no minimum balance, no monthly fee), Turtle Mountain Savingless Savings (no check writing), and Mountain Top Savings (interest-bearing, $500 minimum).
• Business Checking Accounts Three business checking options: Business Checking Option 1 (under 50 checks/month), Business Checking Option 2 (high-volume with earnings allowance), and Business Checking Non-Profit (free for government/nonprofit entities).
• Business Savings Account Business savings account with no service charge, limited to 6 monthly withdrawals with $1 charge per withdrawal exceeding that limit, and $100 minimum balance to open.
• Personal Loans Personal financing options including personal loans, automobile loans, recreational vehicle loans, CD and savings secured loans, and checking reserves, with competitive rates and generally next-day approval.
• Business Loans Business lending products including startup loans, acquisition loans, lines of credit, construction financing, fixed asset loans, real estate loans, rental property loans, operating lines, and government-guaranteed loans (SBA, BIA, FSA).
• Zelle P2P Transfers Peer-to-peer money transfer service through Zelle that allows customers to send and receive money quickly with friends, family, and known contacts.
• New Beginnings Loan Program SSBCI (State Small Business Credit Initiative) loan participation program developed in collaboration with TMBCI, designed to support underserved community members with financing for new beginnings and economic development.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• Turtle Mountain Band of Chippewa Indians (TMBCI)coreStrategic or Co-development PartnerTurtle Mountain State Bank is a privately owned Native American bank serving the Turtle Mountain Band of Chippewa Indians reservation. The bank collaborates with TMBCI on the SSBCI Loan Participation Program 'New Beginnings' to provide economic development opportunities for tribal members.
• ZellecoreTechnology or IntegrationTurtle Mountain State Bank has partnered with Zelle to provide customers with a fast and easy way to send and receive money with friends, family, and people they know through the bank's P2P transfer services.
• FiservcoreTechnology or IntegrationThe bank's mobile banking application is powered by Fiserv, providing customers with real-time balances, account management, mobile deposits, transfers, bill payment, and card management through their mobile devices.
• FDICcoreOthersThe Federal Deposit Insurance Corporation provides insurance coverage for deposits at Turtle Mountain State Bank, protecting depositors against bank failure up to the insured amount.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Bell Bank: Large privately held community bank headquartered in Fargo, ND, serving North Dakota and Minnesota. Comparable as a North Dakota community bank competitor for retail and small business deposits, though with vastly broader scale, multiple branches, and full corporate banking capabilities.
• Bremer Bank: Regional bank operating across Minnesota, Wisconsin, and North Dakota. Comparable as a regional community bank competitor providing personal and business banking services in the upper Midwest, with a significantly broader branch and product footprint than Turtle Mountain State Bank.
• First International Bank & Trust: North Dakota-headquartered community bank operating across the state with agribusiness and business lending focus. Comparable as a North Dakota community bank competitor for personal and small business deposits in the regional market, particularly in rural and small-town areas.
• Starion Bank: North Dakota-based community bank with branches across the state and adjacent markets. Directly competes for personal and small business banking customers in North Dakota and provides a benchmark for North Dakota community bank economics, though at larger scale.

Regional players

• Heartland State Bank: Small community bank serving the upper Midwest with personal and business banking. Comparable as a small-scale community bank peer in terms of footprint, FDIC-insured deposit products, and community lending focus.
• First Western Bank & Trust: North Dakota-based community bank serving western North Dakota. Comparable as a regional community bank competitor for personal and business banking customers in nearby rural North Dakota geographies, with similar community-bank scale and product mix.
• Cornerstone Community Bank: Small community bank serving a rural/small-town market with personal and business banking products. Comparable to Turtle Mountain State Bank in scale (single/multi-branch community bank model), deposit-and-loan product set, and community-oriented positioning.
• Citizens Community Bank: Small community bank operating in a rural or small-town market with personal and business banking products. Comparable to Turtle Mountain State Bank as a small-scale community bank with similar product mix and customer-base profile.

Direct peers

• Native American Bank, N.A. National bank focused on Native American communities, tribes, and tribal-owned businesses. Most directly comparable to Turtle Mountain State Bank by mission (serving Native American markets), regulatory structure, and product set (deposits, lending). Operates in a similar niche with overlapping customer type.
• Blackfeet Community Bank: Tribal community bank chartered to serve a Native American reservation (Blackfeet Nation in Montana). Directly comparable to Turtle Mountain State Bank by charter type, customer base (tribal members and tribal businesses), product set, and regulatory environment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/turtle-mountain-state-bank

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Turtle Mountain State Bank