Somerville Bank
Somerville Bank is a privately held, Ohio-chartered community bank operating seven branches in Southwestern Ohio since 1910, offering consumer and business deposit accounts, residential and commercial lending, merchant services, credit cards, and identity protection to local individuals and small businesses.
- Company typePrivate
- Founded1910
- HeadquartersSomerville, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Somerville Bank does
Somerville Bank is a privately held, Ohio-chartered community bank founded in 1910 as The Somerville National Bank and rebranded in January 2018 under its current name, headquartered in Somerville, Ohio. It operates seven full-service branches across Southwestern Ohio, serving individual consumers and small/mid-sized businesses with deposit accounts (consumer and business checking and savings), a diversified lending portfolio covering residential mortgages, construction loans, HELOCs, FHA/VA and USDA loans, auto loans, commercial real estate, agricultural land, SBA and FSA loans, and co-branded credit cards issued through MyCommunity CC and UBB Key Credit. Additional revenue and product surface includes Clover-branded merchant services (POS systems and virtual terminal) and an ID TheftSmart identity protection subscription priced at $8.50 per month. The bank employs 51-100 people, with senior management averaging 30+ years of banking experience in Preble County and multiple staff with 10+ years of tenure, emphasizing locally based decision-making and personal customer relationships. Distribution is anchored by the seven-branch physical network supplemented by online banking, a mobile app for iOS and Android, Zelle for P2P payments, bill pay, and ATM access, with deposit insurance provided through the FDIC. Revenue is generated primarily through net interest income on the loan portfolio, deposit account fees, interchange from merchant services, and small recurring subscription revenue from ID TheftSmart.
Somerville Bank firmographics
Firmographics- Name
- Somerville Bank
- Legal name
- Somerville Bank
- Website
- https://somervillebank.net/
- Company type
- Private
- Founded year
- 1910
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Somerville Bank is a privately held, Ohio-chartered community bank operating seven branches in Southwestern Ohio since 1910, offering consumer and business deposit accounts, residential and commercial lending, merchant services, credit cards, and identity protection to local individuals and small businesses.
- Ownership category
- akta.pro rank
Somerville Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (522110), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- SME Commercial Real Estate (CRE) Lending (FSABABAG)
- akta.pro secondary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where Somerville Bank is headquartered
LocationHeadquarters
- HQ city
- Somerville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Somerville Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income: Traditional bank earning interest on loans including residential mortgages, commercial real estate loans, agricultural loans, construction loans, auto loans, and HELOCs.
- Deposit Account Fees and Service Charges: Fees from consumer and business deposit accounts, including checking and savings accounts.
- Commercial Banking Services: Commercial lending, agricultural land loans, SBA loans, FSA loans, merchant services for business clients.
- Identity Protection Services: ID TheftSmart identity protection service at $8.50 per month providing protection, detection, and restoration services.
- Credit Cards: Consumer and business credit cards through MyCommunity CC partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | ID TheftSmart Identity Protection |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Somerville Bank product offering
Product offeringCore offering
Somerville Bank is an Ohio-chartered community bank that provides personal and business deposit accounts, residential and commercial loan products, mortgage lending, online and mobile banking, merchant card services through Clover, and identity protection services to consumers and small businesses across Southwestern Ohio.
Product overview
Somerville Bank is a traditional community bank offering a comprehensive suite of consumer and business banking products. The bank operates as a single-unified offering with multiple product categories including deposit accounts (consumer and business), various lending products (residential mortgages, construction loans, agricultural loans, commercial real estate loans, auto loans, HELOCs, SBA loans), merchant services through Clover POS systems, identity protection (ID TheftSmart), online and mobile banking, and Zelle money transfer services. The bank has seven full-service branches in Ohio.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking & Savings Accounts
- Business Checking & Savings Accounts
- Residential Mortgage Loans
- Commercial Loans
- Online & Mobile Banking
- Merchant Card Services (Clover)
- ID Theft Protection
Companies that use Somerville Bank
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles2 records
Somerville Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Somerville Bank partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- ClovercoreClover provides all-in-one payment processing and business management solutions for merchant services. Somerville Bank offers Clover POS systems including Clover Go, Flex, Mini, Station Solo, and Station Duo to business customers, enabling payment acceptance, inventory management, employee scheduling, and loyalty programs.
- FDICcoreFederal Deposit Insurance Corporation provides deposit insurance coverage up to the legal maximum, ensuring depositor protection and maintaining public confidence in the banking system.
- MyCommunity CCcorePartnership to offer Somerville Rewards Platinum Credit Card and other consumer credit cards through the mycommunitycc.com platform, enabling customers to apply online or by mail.
- UBB Key CreditcorePartnership to offer business credit cards through UBB Key Credit platform, allowing business customers to access credit card products.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Somerville Bank competitors and assessment
Company assessmentDirect peers
- Minster Bank: Independent Ohio community bank with multiple branches offering consumer and commercial lending, including agricultural financing. Directly comparable as a small, privately-held Ohio community bank with overlapping product set and rural focus.
- First State Bank (OH): Privately held Ohio community bank providing consumer and commercial banking services including mortgages and agricultural lending. Comparable as a similarly-sized Ohio community bank operating with branch-based distribution and similar customer segments.
- Sutton Bank: Ohio-based community bank offering consumer deposits, mortgages, and commercial/agricultural lending. Comparable as a small Ohio community bank with similar product mix and regional concentration.
- Heartland Bank (OH): Community bank serving Central Ohio with consumer and commercial banking products. Comparable as a community bank operating in Ohio with similar deposit and lending offerings.
- Greenville Federal (Greenville National Bank): Community bank serving Darke County and surrounding Ohio markets with consumer and commercial products. Comparable given proximity to Somerville's Southwestern Ohio footprint and similar rural community banking model.
- West Milton State Bank: Small Ohio community bank with branch-based consumer and commercial banking services. Comparable as a similarly-sized community bank operating in the same Southwestern Ohio region.
- Citizens National Bank (OH): Ohio community bank offering full-service consumer and commercial banking, including agricultural and CRE lending. Comparable as a community bank with overlapping product suite serving similar customer segments.
- Peoples Federal Savings and Loan Association: Ohio-based community depository institution offering consumer banking and residential lending. Comparable as a small Ohio-based community bank with similar deposit-and-lending focus.
- Civitas State Bank: Small Ohio-based community bank offering consumer and commercial banking products. Comparable given similar size, regional focus, and community banking model.
Broad incumbents
- First Financial Bank (Ohio): Large regional bank serving Ohio and adjacent states with full consumer, commercial, and agricultural banking services. Comparable as a same-state competitor with overlapping products, but operates at substantially larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Somerville Bank social profiles
Digital presenceSomerville Bank compliance and trust
Trust signalCompliance2 records
Somerville Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Somerville Bank leadership team
Management profileNumber of profiles
Somerville Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Somerville Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Somerville Bank
What does Somerville Bank do?
Somerville Bank is an Ohio-chartered community bank that provides personal and business deposit accounts, residential and commercial loan products, mortgage lending, online and mobile banking, merchant card services through Clover, and identity protection services to consumers and small businesses across Southwestern Ohio.
Is Somerville Bank a public or private company?
Somerville Bank is a private company. It is classified as unknown and is currently operating.
When was Somerville Bank founded?
Somerville Bank was founded in 1910. It employs 51 to 100 people.
Where is Somerville Bank based?
Somerville Bank is headquartered in Somerville, United States, in the North America region.
How does Somerville Bank make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees and Service Charges, commercial Banking Services, identity Protection Services and credit Cards.
Who are Somerville Bank's main competitors?
Direct peers on record are Minster Bank, First State Bank (OH), Sutton Bank, Heartland Bank (OH), Greenville Federal (Greenville National Bank), West Milton State Bank, Citizens National Bank (OH), Peoples Federal Savings and Loan Association and Civitas State Bank. First Financial Bank (Ohio) is listed as a broad incumbent.
Does Somerville Bank have an API?
No public API is recorded for Somerville Bank.
What industry is Somerville Bank in?
Somerville Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAG, SME Commercial Real Estate (CRE) Lending, with a secondary code of FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor). Its NAICS code is 522110 and its SIC code is 6022.