What Iowa State Bank does

Iowa State Bank is a privately held, family-owned community bank founded on April 16, 1941 by George O'Dea in Des Moines, Iowa, and has operated continuously under the Burgeson family's leadership for 85 years. The bank operates five full-service branches across the Des Moines metropolitan area (Des Moines, West Des Moines, and Urbandale), with a headquarters at 627 East Locust Street in the East Village neighborhood. It is structured as a subsidiary of Iowa State Bank Holding Company, with Lauren Burgeson currently serving as President and CEO, and employs over 90 staff across branch operations, business development, and trust & wealth management functions.

The bank delivers a full-stack suite of retail, small-business, and wealth services built on a traditional core-banking platform extended with vendor-provided digital channels. Personal banking includes four checking tiers (Basic, Easy Access, Value 55, Premier), multiple savings vehicles, CDs with promotional rates, Traditional and Roth IRAs, mortgages, home equity products, consumer loans, and student-loan refinancing through Iowa Student Loan. Business banking spans three checking tiers, commercial real estate and SBA lending, lines of credit, merchant services via Professional Solutions, and business credit cards issued through Elan Financial Services. Trust & Wealth Management offers estate planning, trust administration, investment management, and the GlobalWealth Access client portal. Underlying technology is sourced from third parties — Shazam for debit-card processing and ATM network, Elan for credit cards, Brella for fraud alerting, Osaic for investment products, and QuickBooks/Quicken for accounting integration — rather than proprietary systems.

Iowa State Bank earns revenue primarily through net interest income on its commercial and consumer loan portfolio (loan-to-deposit ratio of 68-72% across 2025), supplemented by transaction-based account and service fees (monthly maintenance, overdraft, ACH, wire), merchant-services residuals, and revenue-sharing arrangements with Osaic Institutions on investment referrals. The bank's go-to-market is direct-to-consumer branch banking combined with community-driven content marketing (website, Facebook, LinkedIn) and grassroots community engagement; no paid advertising program is documented. Customer acquisition leans on local referrals, multi-generational relationships, and 85 years of regional brand presence, with FDIC insurance and a Satisfactory CRA rating (May 2024) supporting customer trust. The bank holds private ownership and does not publicly disclose financial results.

Name

Iowa State Bank

Legal name

Iowa State Bank

Website

https://iowastatebanks.com

Company type

Private

Founded year

1941

Operating status

Operating

Headcount range

101–250 employees

Short description

Iowa State Bank is a privately held, family-owned community bank founded in 1941, serving retail consumers, small businesses, and trust clients through five Des Moines-metro branches and a partner-built digital banking stack.

Ownership category

akta.pro rank

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices5 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: The primary revenue stream for the community bank comes from interest earned on loans including commercial real estate loans, business loans, consumer loans, mortgages, and home equity loans. The bank earns interest rate spreads between deposit rates paid to customers and loan rates charged.
2. Account and Service Fees: Monthly service charges on checking and savings accounts, transaction fees for exceeding limits, overdraft protection transfers, and various account maintenance fees.
3. Digital Banking Services: Fees for ACH transactions including monthly fees, per-item charges, same day ACH fees, returned item fees, and notification of change fees.
4. Investment and Wealth Management Services: Revenue sharing arrangements with Osaic Institutions, Inc. for investment and insurance products and services offered through ISB Investment Services.
5. Merchant Services: Partnership with Professional Solutions Financial Services for payment processing, with transaction fees deducted monthly.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Iowa State Bank is a privately held community bank offering deposit accounts (checking, savings, CDs, IRAs), consumer and commercial loans (mortgages, home equity, auto, business, SBA), trust and wealth management services, merchant services, and digital banking through five physical branches in the Des Moines metro area. Lending decisions and customer service are made locally by bank staff. Investment and insurance products are offered through a partnership with Osaic Institutions, Inc.

Product overview

Iowa State Bank offers a comprehensive suite of personal and business banking products through a multi-branch community bank model serving the Des Moines, Iowa metro area. Personal banking includes multiple checking and savings account tiers (Basic, Easy Access, Value 55, Premier Checking; standard, Minor, Money Market, Holiday Savings), CDs with special rate promotions, Traditional and Roth IRAs, Private Banking services, Consumer Loans (auto, boat/RV, personal credit), Home Equity products, Home Mortgages, Student Loans (via Iowa Student Loan partnership), and Credit/Debit Cards. Business banking encompasses three checking tiers, business savings, Business Loans (commercial real estate, lines of credit, term loans, SBA), Business Credit Cards, Merchant Services, Business Online/Mobile Banking with Positive Pay fraud protection, and ACH capabilities. Trust & Wealth Management services include Trust Administration, Estate Planning, Investment Management (via Osaic Institutions), and a dedicated mobile app (GlobalWealth Access). All services are delivered through five physical branches with digital banking channels. No public API or AI/ML-powered features are documented.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Suite of personal checking account options including Basic Checking, Easy Access Checking, Value 55 Checking (for customers age 55+), and Premier Checking (interest-bearing with extra benefits). Includes unlimited check writing, debit cards, overdraft protection, and complimentary services. Designed for individuals and families in the Des Moines metro area.
• Personal Savings Accounts Savings options including standard Savings, Minor Savings (for children under 18), Invest@Home Money Market (tiered interest with limited check writing), and Holiday Savings Account (funds available November 10th). $100 minimum to open standard savings.
• Certificates of Deposit (CDs) FDIC-insured CD products with terms from 3 months to 5 years. $1,000 minimum opening deposit ($5,000 for special rate CDs). Interest compounded annually or at maturity.
• Traditional and Roth IRAs Tax-deferred Traditional IRA (contributions may be tax-deductible) and after-tax Roth IRA (tax-free qualified withdrawals). Required Minimum Distributions apply to Traditional IRA at age 73. Contributions up to $7,500 (under 50) or $8,600 (50+).
• Private Banking Premium banking services including Private Banking Checking, Money Market Savings, Residential Mortgages, Personal/Business Banking Services, Trust and Wealth Management, and complimentary services (wire transfers, cashier's checks, notary, safe deposit box credit). Targeted at high-net-worth individuals and families.
• Consumer Loans Personal loans including Auto Loans (fixed-rate up to 7 years), Boat/RV Loans (fixed-rate with flexible payments), and Personal Lines of Credit (starting at $1,000). Decisions made locally with quick processing.
• Home Equity Loans and Lines of Credit Home equity financing options: fixed-term Home Equity Loans for specific expenses and revolving Home Equity Lines of Credit (HELOC) where only interest is paid on amounts advanced. Can be used for auto, home improvement, debt consolidation, or education.
• Home Mortgage Mortgage products including fixed-rate purchase and refinance, first-time home-buyer programs, balloon mortgages, construction loans, bridge financing, FHA/VA government programs, and Community Reinvestment Home Loan Program (CRHLP). Local decision-making with single contact throughout process.
• Student Loans Partnership with Iowa Student Loan offering private education loans and refinancing. Partnership Advance Education Loan, College Family Loan, and Reset Refinance Loan available.
• Business Checking Accounts Three business checking tiers: Small Business Checking (up to 150 transactions included), Business Checking (with earnings credit to offset fees), and Business Checking Plus (earnings credit for large volume, may earn interest).
• Business Savings Accounts Business savings including Traditional Savings (up to 6 debits/month) and Invest@Home Money Market Savings (tiered interest, limited check writing).
• Business Loans Commercial lending including Commercial Real Estate (purchase, refinance, expand, improve), Lines of Credit (cash-flow and daily expenses), Term Loans (fixed assets), and SBA Loans (504, 7a, Express programs). Local in-house decision-making.
• Business Credit Cards Business credit card options offered through Elan Financial Services including low rate, cash back, and flexible rewards cards. Features include free online expense reporting, no additional employee card fees, mobile payments, and zero fraud liability.
• Merchant Services Payment processing solutions through Professional Solutions Financial Services offering next-day funding, 24/7 service, hassle-free setup, upfront transparent fees, and direct processor support for business customers.
• Business Online Banking 24/7 online access to business accounts including deposit/loan balance viewing, statement access, fund transfers, ACH origination, loan payments, and line of credit advances. Features Real Time Funds Management, Customized Access Levels for employees, Multi-Factor Authentication, and Positive Pay fraud protection.
• Trust Services Comprehensive trust management including Revocable and Irrevocable Trusts, Charitable Remainder Trusts, Foundation and Charitable Trusts, Special Needs Trusts, and Conservatorships. Administered for generations of families with sensitivity and care.
• Estate Planning and Administration Services Estate planning tools including Wills and Trusts for wealth transfer, charitable goals, tax minimization, asset protection, and ongoing management. Includes Executor and Trustee services for collecting assets, determining tax liability, and distributing estates/trusts according to legal documents.
• Investment Management Investment portfolio management for non-profits, businesses, and individuals. Equity philosophy focuses on long-term growth with large-cap domestic stocks plus ancillary small-cap, mid-cap, and international exposure. Fixed income emphasizes reduced volatility through individual bonds and notes.
• ISB Investment Services Investment services through Osaic Institutions including Retirement Planning, Account Rollovers/Consolidation, Financial Planning, Life Insurance, Estate Planning, and College Savings (ISave 529 Plan, Coverdell, UGMA/UTMA). Available by appointment with investment professionals.
• Debit Cards and Services Instant Issue Visa Debit Cards with contactless payments, worldwide ATM access on Privileged Status network, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), and Brella fraud-alerting app for card blocking and alerts.
• Personal Credit Cards Personal credit cards issued through Elan Financial Services offering multiple options including low rate, cash back, and rewards. Features worldwide acceptance, zero fraud liability, mobile payments, and 24/7 cardmember service.
• Gift and Travel Cards Visa Gift Cards (load $10-$1,000) for domestic use and Visa Travel Cards for international use with ATM access, text alerts, no credit check, and easy replacement if lost/stolen.
• Personal Online and Mobile Banking 24/7 digital banking with real-time balance viewing, transfers, bill pay, mobile check deposits, and alerts. Features Transfer Now for external transfers to 15,000+ institutions, Bill Pay with single/recurring scheduling, and customizable fraud alerts. Available via iPhone and Android apps.

Quantifiable outcome

• Loan to deposit ratio maintained at approximately 68-72% demonstrating balanced lending and deposit gathering
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Osaic Institutions, Inc.coreGTM or Marketing PartnerISB Investment Services partnership offering investment and insurance products through Osaic Institutions, Inc. The bank receives compensation for referrals of investment customers. Services include retirement planning, financial planning, estate planning, and insurance products offered through registered representatives.
• Professional Solutions Financial ServicescoreChannel Partner/ Reseller/ DistributorMerchant services partnership providing credit card processing solutions for business customers. Services include next-day funding, 24/7 support, and integrated payment solutions through Professional Solutions, a division of NCMIC Finance Corporation.
• Iowa Student LoansupportingChannel Partner/ Reseller/ DistributorStudent loan partnership offering private loans for college and refinance options. Partnership Advance Education Loan, College Family Loan, and Reset Refinance Loan products offered through the Iowa nonprofit lender.
• ShazamsupportingTechnology or IntegrationATM network and fraud monitoring services. Debit card processing network providing surcharge-free ATM access through Privileged Status Network and fraud alert services including Brella app.
• Privileged Status NetworksupportingTechnology or IntegrationATM network brand allowing Iowa State Bank customers to use ATMs nationwide at no cost, differentiating from banks that charge surcharges on external ATMs.
• BrellasupportingTechnology or IntegrationFraud-alerting mobile app partnership through Shazam enabling card blocking, fraud alerts, and balance checking for debit card protection.
• Elan Financial ServicessupportingTechnology or IntegrationCredit card issuing partnership providing Visa and Mastercard credit cards through Elan Financial Services with zero fraud liability protection.
• Intuit QuickBookssupportingTechnology or IntegrationIntegration with QuickBooks accounting software allowing Direct Connect for automatic transaction downloads, online banking tasks, and financial management for business customers.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• U.S. Bank: Large national bank with significant Des Moines operations offering the full spectrum of consumer, commercial, and wealth services. Represents the primary large-institution competitor ISB faces for retail and SMB customers in the same metro.
• Wells Fargo: National bank with substantial Des Moines metro presence competing for the same consumer, mortgage, and SMB banking relationships. ISB's local decision-making proposition is explicitly positioned against Wells Fargo's scale.
• Bank of America: National bank with Des Moines-area branches competing for the same deposit and lending customers. Referenced in customer testimonials as the prior bank of record for SMBs ISB successfully converts.
• Heartland Financial USA: Larger Midwest community banking franchise with multiple bank charters across several states. Operates a broader portfolio of community banks with comparable products (deposits, lending, wealth), but at materially greater scale and geographic diversification than ISB.

Direct peers

• West Bank: Iowa-based community bank headquartered in West Des Moines offering personal, business, and wealth management banking. Directly comparable in geography, scale, and product mix, serving overlapping customer segments in the same Des Moines metro.
• GreenState Credit Union: Iowa-headquartered, member-owned financial cooperative offering deposit, lending, and wealth services across the state. Competes directly with ISB for retail and SMB deposits and loans in the same Des Moines market, although structured as a credit union rather than a bank.
• Hills Bank and Trust Company: Iowa-based community bank offering personal, commercial, and trust services with a similar relationship-driven model. Comparable in scale and product breadth, with shared Iowa geographic exposure and similar regulatory positioning.
• Bankers Trust Company: Des Moines-headquartered community bank with comparable size, full-service personal/business banking, and trust services. Operates in the same metro market with a similar relationship-based model, making it the most direct head-to-head competitor.

Others

• Professional Solutions Financial Services: NCMIC-affiliated merchant services and payments partner that provides credit card processing for ISB's business banking customers. Included as an enabling partner whose economics and continuity directly affect ISB's merchant services revenue.
• Osaic Institutions: Wealth management and insurance platform partner that delivers ISB Investment Services. Comparable as an enabling ecosystem partner whose product set and referral economics are core to ISB's wealth and investment offering.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/IowaStateBanks
• LinkedInlinkedin.com/company/iowa-state-bank-des-moines-ia-

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 Iowa State Bank