North Adams State Bank

What North Adams State Bank does

North Adams State Bank is a privately held, FDIC-insured community bank founded in 1903 and headquartered in Ursa, Illinois. The bank operates as part of the Liberty Bank network, having been acquired by Liberty Bank while preserving the historical North Adams State Bank identity. It serves retail consumers, small businesses, and agricultural operations across Adams and Pike counties in western Illinois through six community banking centers located in Liberty, Barry, Payson, Quincy, Ursa, and Camp Point, plus an ATM network and shared digital banking access.

The product set spans the full retail and small-business banking stack: Better-Than-Free Checking, Super Savings Plans, and Secure Certificates of Deposit on the deposit side; Affordable Consumer Loans, Home Equity Line of Credit, Student Loans, Commercial Loans (including farm and business loans), and a Quilo alternative lending product on the credit side; plus IRAs, SIMPLE Retirement Plans, Health Savings Accounts, Mastercard and VISA credit cards, and ShazamChek debit cards. The underlying technology stack is largely third-party — Shazam powers the ShazamChek debit card issuance and the ShazamBanking digital banking platform, while Mastercard and VISA provide the credit card network rails. No proprietary core banking system or AI/ML capabilities are disclosed.

The bank's business model is the standard community bank net interest income model: the predominant revenue stream is interest income from the diversified lending book (consumer, commercial, agricultural, home equity, student), supplemented by transaction-based revenue from deposit account fees, credit and debit card interchange, and subscription/relationship-based revenue from retirement and HSA account administration. Deposit gathering is concentrated in physical branches with community-led acquisition; GTM is primarily local presence, word-of-mouth, and community involvement rather than digital marketing. The bank is 100% locally owned and operates within a single state market (Illinois) without disclosed expansion plans, public listing, or external capital activity.

Name

North Adams State Bank

Legal name

North Adams State Bank

Website

https://northadamsbank.com

Company type

Private

Founded year

1903

Operating status

Operating

Headcount range

11–50 employees

Short description

North Adams State Bank is a privately held, FDIC-insured community bank founded in 1903 in Ursa, Illinois, now operating as part of Liberty Bank. It serves retail consumers, small businesses, and agricultural borrowers across western Illinois through six community banking centers and a third-party digital banking platform.

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)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• Consumer lending products
• Agricultural and farm loans
• Retail deposit accounts
• Local commercial banking

Headquarters

HQ city

Ursa

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, Others

Revenue model

1. Interest Income from Lending: Revenue generated from interest on consumer loans, commercial loans, agricultural loans, home equity lines of credit, student loans, and certificates of deposit
2. Deposit Account Fees: Fees from checking accounts, ATM usage, overdraft protection, and other deposit-related services
3. Credit Card Revenue: Interchange fees and interest from Mastercard and VISA credit card products
4. Retirement Account Services: Revenue from IRA and SIMPLE retirement plan administration and management
5. Health Savings Account Services: Fees associated with HSA account maintenance and administration

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

North Adams State Bank, operating as part of Liberty Bank, provides traditional community banking products and services to individuals, families, local businesses, and agricultural operators in rural western Illinois. Its core offerings include deposit accounts (Better-Than-Free Checking, Super Savings Plans, Certificates of Deposit), consumer and commercial lending (consumer loans, HELOC, student loans, farm and business loans), retirement and healthcare savings vehicles (IRAs, SIMPLE plans, HSA), and card products (ShazamChek debit cards, Mastercard and VISA credit cards), delivered through six branches and a digital banking platform.

Product overview

North Adams State Bank operates as part of the Liberty Bank network, offering a comprehensive suite of traditional banking products and services. The bank's portfolio includes deposit products (Better-Than-Free Checking, Super Savings Plans, Secure Certificates of Deposit), lending products (Affordable Consumer Loans, Home Equity Line of Credit, Student Loans, Commercial Loans including farm and business loans), retirement and savings accounts (IRA's, SIMPLE Retirement Plans, Health Savings Account), and card products (ShazamChek Debit Cards, Mastercard and VISA Credit Cards). The bank also offers Quilo as an alternative lending product. With six physical locations in Illinois (Liberty, Barry, Payson, Quincy, Ursa, Camp Point), the bank provides both in-person and digital banking services through its ShazamBanking platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Better-Than-Free Checking A consumer checking account offered to individuals and households, bundled with debit card access and digital banking features, marketed as a higher-value alternative to standard free checking.
• Super Savings Plans Savings account products designed for individual customers seeking to grow deposits with competitive interest rates.
• Affordable Consumer Loans Personal loans for individual consumers covering needs such as home improvement and other personal financing, with personalized local service and competitive rates.
• Home Equity Line of Credit (HELOC) Revolving credit facility secured by residential property equity, enabling homeowners to borrow against their home's value for home improvement, debt consolidation, or other purposes.
• Student Loans Education financing products offered to students and families to fund higher education expenses.
• Quilo An alternative lending or financial service product offered by the bank to its customers.
• ShazamChek Debit Cards Debit cards issued through the Shazam network for digital and physical point-of-sale transactions and ATM access, attached to customer deposit accounts.
• Commercial Loans (Including Farm and Business Loans) Lending products for local businesses and farm operators, supporting commercial operations, working capital, and agricultural financing needs.
• IRA's & SIMPLE Retirement Plans Tax-advantaged Individual Retirement Accounts and SIMPLE IRA plans for individual retirement savings.
• Health Savings Account (HSA) Tax-advantaged savings accounts designed to help customers pay for qualified medical expenses when paired with a high-deductible health plan.
• Mastercard and VISA Credit Cards Credit card products available to customers through both Mastercard and VISA networks, generating interchange and interest revenue for the bank.
• Secure Certificates of Deposit Time-deposit accounts offering a guaranteed rate of return over a fixed term, backed by FDIC deposit insurance.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

One partnership is on record.

• ShazamcoreTechnology or IntegrationPartnership with Shazam payment network for debit card processing, ATM access, and ShazamChek debit card issuance. Shazam provides the underlying payment infrastructure for card transactions.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Regional players

• Morton Community Bank: Illinois community bank with branches across central Illinois providing consumer, commercial, and agricultural banking products comparable to North Adams State Bank's product set.
• First Mid-Illinois Bancshares: A larger community bank holding company headquartered in central Illinois offering commercial, agricultural, mortgage, and retail banking across a multi-county footprint that overlaps North Adams's market.
• Hickory Point Bank and Trust: Illinois community bank offering deposit, lending, and wealth services to individuals and small businesses with a similar community-focused value proposition in the central Illinois region.

Broad incumbents

• Heartland Financial USA (HTLF): A multi-state community banking franchise operating across the Midwest and West, including Illinois community banks with similar deposit and small-business lending products.
• Tompkins Financial Corporation: A community-focused bank holding company with branches in the Northeast and Mid-Atlantic operating a similar deposit, lending, and wealth management model to independent community banks.
• Nicolet Bankshares: A community-focused regional bank with operations in the upper Midwest offering comparable commercial, agricultural, and retail banking products to local communities.
• German American Bancorp: A larger Midwest regional bank with community banking operations across Indiana, Kentucky, and Illinois, offering deposit and small-business lending products overlapping with North Adams's core market.

Direct peers

• Farmers State Bank of Western Illinois: A community bank serving western Illinois with a similar focus on agricultural lending, deposit accounts, and local branch-based service to small businesses and rural households.
• Liberty Bank (parent): Liberty Bank is the parent institution under which North Adams State Bank now operates as the North Adams Banking Center. It offers the same community banking model, product suite, and rural Illinois footprint, making it the most directly comparable peer.
• CNB Bank Shares: Small community bank holding company operating in central Illinois with a comparable mix of consumer, business, and agricultural lending and deposit products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/north-adams-state-bank

Revenue estimate

Valuation estimate

Number of profiles

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 North Adams State Bank