Blue Grass Federal

What Blue Grass Federal does

Blue Grass Federal is a federally chartered, FDIC-insured mutual savings bank headquartered in Paris, Kentucky, founded in 1959 and operating as an affiliate of First Mutual Holding Co. As a mutual institution, it is owned by its depositors rather than outside shareholders, and it reinvests deposit dollars locally through mortgage, business, and consumer lending in its Bluegrass-region service area.

The bank's product portfolio spans personal banking (checking, savings, certificates of deposit with special promotional rates such as 13- and 25-month CDs at 4.00% APY, online and mobile banking, and a native iOS/Android mobile app with mobile deposit), consumer lending (residential mortgages including USDA loans, home equity lines and loans, and in-person mortgage origination with free consultation), and business banking (business checking, business savings, business lending including term loans and lines of credit, and a dedicated business online banking platform). Account onboarding is supported by a self-serve digital flow that opens personal accounts in under 10 minutes.

Blue Grass Federal generates revenue primarily through net interest income on its loan and deposit book (residential mortgages, commercial real estate, business, and consumer loans) supplemented by non-interest income from account maintenance, overdraft, ATM, wire, and other service fees, plus card interchange. The bank serves individual consumers and small businesses in its regional footprint, marketed through branches, digital channels, social media (Facebook, LinkedIn, Instagram), and community engagement, including an annual Community Impact Report and participation in the Mutuals Matter consortium.

Name

Blue Grass Federal

Legal name

Blue Grass Federal

Website

https://bluegrassfederal.com

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

11–50 employees

Short description

Blue Grass Federal is a federally chartered, FDIC-insured mutual savings bank in Paris, Kentucky, serving local consumers and small businesses with checking, savings, CDs, mortgages, home equity, business banking, and digital channels.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)

akta.pro secondary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Retail banking products
• Savings and checking
• Mortgage lending services
• Business banking solutions

Headquarters

HQ city

Paris

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from lending activities including residential mortgages, commercial real estate loans, business loans, and consumer loans, offset by interest paid on deposits.
2. Non-Interest Income: Fee income from account maintenance, overdraft fees, ATM fees, wire transfer fees, and other banking service charges.
3. Card Interchange: Revenue from debit and credit card transaction interchange fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Blue Grass Federal is a mutual savings bank offering personal and business banking products including checking, savings, money market, and certificate of deposit accounts, alongside mortgage loans, home equity lines of credit, and business lending. The bank delivers these services through a community branch presence in Paris, Kentucky, complemented by digital channels including online, mobile, and online account opening platforms.

Product overview

Blue Grass Federal offers a comprehensive suite of banking products organized into personal and business categories. The personal banking line includes Checking Accounts, Savings Accounts, and Certificates of Deposit (CDs) with special promotional rates, alongside Online and Mobile Banking services featuring a dedicated mobile app. On the lending side, the bank provides Mortgage Loans (including USDA loans), Home Equity products, and various loan consultation services. Business banking encompasses Business Checking, Business Savings, Business Lending, and Business Online Banking. All segments are supported by the bank's digital banking platform, which includes online account opening capabilities, mobile applications, and comprehensive online banking access.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Account A transaction account for individual consumers to manage everyday spending, deposits, and payments, typically paired with a Visa debit card.
• Personal Savings Account An interest-bearing deposit account for individual consumers to accumulate savings.
• Personal Money Market Account A higher-yielding deposit account for individual consumers seeking competitive rates with liquidity.
• Certificate of Deposit (CD) A time deposit product offering a fixed interest rate over a specified term; current promotional CD rates are 4.00% APY for 13-month and 25-month terms.
• Mortgage Loans Residential mortgage financing for individual consumers purchasing or refinancing homes, supported by on-staff mortgage loan originators.
• Home Equity Line of Credit (HELOC) A revolving credit line secured by residential real estate equity for individual consumers.
• Online and Mobile Banking A digital banking platform that allows personal banking customers to access accounts, view balances, transfer funds, and pay bills via web browser.
• Mobile Banking App Native iOS and Android applications providing personal banking customers with mobile account access, mobile deposit, and account management features.
• Online Account Opening A digital onboarding platform enabling consumers to open deposit accounts online through a dedicated subdomain.
• Business Checking Account A transaction account for businesses to manage operating cash flow, deposits, and payments.
• Business Savings Account An interest-bearing deposit account designed for businesses to hold reserve funds.
• Business Money Market Account A tiered business deposit account offering a competitive yield on operating balances.
• Business Loans Credit facilities extended to local businesses to support working capital, expansion, and operational needs.
• Business Online Banking A dedicated digital banking platform tailored for business customers to manage business accounts, transfers, and cash management.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Mutuals MatterminorGTM or Marketing PartnerBlue Grass Federal participates in the Mutuals Matter consortium, a marketing and brand initiative for mutual banks to collectively promote the mutual banking model and community reinvestment values.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Berkshire Hills Bancorp: New England-based community bank providing consumer and commercial banking plus mortgage lending. Comparable community-bank operating model with similar product mix and small-business orientation.
• S&T Bancorp: Pennsylvania-based community bank offering consumer checking and savings, mortgage, and commercial lending. Comparable community-bank operating model and product mix to Blue Grass Federal.
• Camden National Bank: Maine-based community bank offering consumer checking and savings, mortgage, and small-business banking. Closely comparable mutual-style community banking franchise with similar product breadth and small-business lending focus.
• Republic Bank & Trust Company: Louisville, Kentucky-based community bank with full-service consumer and business banking, including mortgage lending and community reinvestment focus. Directly comparable mutual-style institution with similar product set and regional Kentucky footprint.
• Brookline Bancorp: Massachusetts-based community banking franchise with consumer, mortgage, and small-business banking products through multiple local bank brands. Comparable multi-channel community bank with mutual-style culture.
• Northwest Bank: Mutual savings bank headquartered in Pennsylvania and Ohio offering consumer and business banking, mortgage, and digital channels. Mutually owned structure and full community banking product set make it a strong direct peer.
• First Financial Bancorp: Cincinnati-based regional community bank holding company operating across Ohio, Kentucky, and Indiana with consumer banking, mortgage, and commercial lending. Comparable multi-channel community banking model with geographic overlap in Kentucky.
• WesBanco, Inc. Multi-state community bank operating across the Midwest, Mid-Atlantic, and Southeast with full consumer and business banking plus mortgage. Comparable community-bank operating model with stronger geographic diversification, useful as a regional benchmark.
• Peoples Bancorp: Ohio-based community bank with consumer checking, savings, mortgage, and small-business banking. Comparable regional community bank with similar deposit-and-lending product set.

Broad incumbents

• Old National Bancorp: Large regional bank operating across Indiana, Kentucky, Illinois, and Wisconsin with full-service consumer, mortgage, and commercial banking. Broader-scope incumbent operating in overlapping Kentucky geographies that competes for similar customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/bluegrassfederal
• LinkedInlinkedin.com/company/blue-grass-federal
• Instagraminstagram.com/bluegrass1959/?hl=en

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 Blue Grass Federal