Banks and Associates

What Banks and Associates does

Banks & Associates CPAs, LLC is a privately-held, Ohio-based Certified Public Accounting firm founded in 2005, operating from two offices in Mansfield and Loudonville. The firm employs three CPAs and ten support staff with a combined 80+ years of public accounting experience, led by Managing Partner Tom Banks, Principal Jim Banks, and third-generation CPA Lance T. Banks. It serves local and regional small-to-mid-sized businesses, individuals and families, not-for-profit organizations, and government entities across industries including auto dealerships, construction, healthcare, manufacturing, farming, and professional services.

The firm delivers a full-service professional services offering spanning tax planning and preparation, accounting and bookkeeping, payroll services, financial statement preparation (audits, reviews, compilations), business succession planning, and M&A support. A complementary insurance and financial services line is delivered through a trusted partnership with Jonathan Dech, providing retirement planning products (401(k), IRAs, Defined Benefit plans), insurance products (life, health, disability, long-term care, Medicare), and investment review. The underlying technology consists of standard accounting platforms (QuickBooks, Peachtree) for client advisory services and a ShareFile-powered secure client portal for document exchange, tax form access, and engagement letter management.

Banks & Associates operates on a sales-led, quote-based professional services model, with fees determined by engagement complexity and scope. The go-to-market is predominantly direct, through in-person consultations at its two Ohio offices, phone and email, supplemented by referral channels (including the RamseyTrusted CPA endorsement), local PR, content marketing via a 'Did You Know' blog and email newsletter, and BBB accreditation. The firm is family-owned with no external institutional investment, no parent company, and no subsidiaries.

Name

Banks and Associates

Legal name

Banks & Associates CPAs, LLC

Website

https://bankscpas.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Banks & Associates CPAs, LLC is a privately-held Ohio-based CPA firm operating from Mansfield and Loudonville, serving SMBs, individuals, not-for-profits, and government clients with tax planning, accounting, bookkeeping, payroll, financial statements, and insurance/financial services via trusted partners.

Ownership category

akta.pro rank

Product category

Accounting & Tax Services

NAICS

Offices of Certified Public Accountants (541211), Finance and Insurance (52)

akta.pro primary industry

Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF)

Keywords

• Tax preparation services
• Accounting bookkeeping services
• Payroll processing services
• Financial statement preparation
• Business succession planning

Headquarters

HQ city

Mansfield

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Tax Preparation and Planning: Comprehensive tax preparation and planning services for individuals, partnerships, corporations, trusts, estates, and exempt organizations
2. Accounting and Bookkeeping: Full-service accounting and bookkeeping including financial statement preparation, audits, reviews, and compilations
3. Payroll Services: Payroll processing, payroll tax filings, and related compliance services
4. Insurance and Financial Services (Partner): Insurance, retirement planning, and investment services offered through trusted partner Jonathan Dech, including 401(k), annuities, health insurance, life insurance, and Medicare plans

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Banks & Associates CPAs, LLC is an Ohio-based certified public accounting firm providing tax planning and preparation, full-service accounting and bookkeeping, payroll processing and tax filings, financial statement preparation (audits, reviews, compilations), business succession and M&A advisory, and QuickBooks/Peachtree technology consulting for small and mid-sized businesses, individuals, not-for-profits, and government entities. Through trusted partner Jonathan Dech, the firm also offers retirement, estate, and insurance planning products, all delivered from two Ohio offices with secure electronic document exchange.

Product overview

Banks & Associates CPAs, LLC is a professional services firm offering two primary service lines: Business & Accounting Services and Insurance & Other Services. The Business & Accounting Services division provides tax planning and preparation, financial statement preparation (audits, reviews, compilations), bookkeeping, payroll services, and business advisory including succession planning and merger/acquisition support. The Insurance & Other Services division offers retirement planning products (401k, IRAs, Defined Benefit plans) and insurance products (life, health, disability, long-term care) through trusted partner Jonathan Dech. A Client Portal with secure ShareFile integration provides clients with online access to tax forms, engagement documents, and secure document exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• Business & Accounting Services Comprehensive accounting and business advisory services including tax planning and preparation, financial statement preparation (audits, reviews, compilations), bookkeeping, payroll services, business succession planning, M&A support, and QuickBooks/Peachtree technology advisory for small and mid-sized businesses.
• Insurance & Other Services Financial planning and insurance services including retirement planning, estate planning, asset protection, employee benefits administration, investment review, and insurance risk management, offered through trusted partner Jonathan Dech.
• Tax Planning & Preparation Services Tax planning and preparation services for individuals, partnerships, corporations, trusts, estates, and tax-exempt organizations, covering federal, state, and local tax returns.
• Financial Statements Services Financial statement preparation including audits, reviews, and compilations for businesses, construction clients (for bonding purposes), and not-for-profit organizations.
• Retirement Planning Products Retirement account and plan administration including 401(k) (Roth & Safe Harbor), Defined Benefit plans, Cash Balance plans, ERISA 403(b), Profit Sharing, Solo K, and Traditional & Roth IRA accounts, delivered through trusted partner Jonathan Dech.
• Insurance Products Insurance and risk management products including life insurance, disability insurance, long-term care insurance, health insurance (business group benefits and individual), Medicare Advantage, Part D and Supplement Plans, and annuities, delivered through trusted partner Jonathan Dech.

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

One partnership is on record.

• Jonathan DechcoreStrategic or Co-development PartnerJonathan Dech serves as a Trusted Partner and Financial Representative providing insurance and investment services to clients. Services include 401(k), annuities, health insurance, life insurance, long-term care insurance, Medicare plans, and retirement planning products.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• BDO USA: Global accounting and advisory network with significant U.S. middle-market practice in audit, tax, and consulting. Comparable in serving privately-held and family-owned businesses across similar industries.
• Plante Moran: Large Midwest-based accounting, tax, and advisory firm with significant Ohio presence serving middle-market and privately-held businesses. Comparable in tax, audit, and advisory offerings but at substantially larger scale and broader geographic reach.
• CliftonLarsonAllen (CLA): Top-10 U.S. accounting firm providing audit, tax, consulting, and wealth advisory to middle-market private businesses, non-profits, and government entities. Comparable in target client verticals (especially non-profit, government, SMB) but materially larger.

Direct peers

• GBQ Partners: Columbus-based CPA and business consulting firm offering tax, audit, accounting, and advisory services to privately-held businesses, not-for-profits, and government entities. Comparable in professional services model and Ohio SMB/government client focus.
• Rea & Associates: Ohio-based CPA and business advisory firm serving individuals and mid-market businesses across similar verticals including construction, manufacturing, healthcare, and non-profits. Closely comparable in size, regional footprint, and full-service tax/accounting/advisory positioning.
• Padgett Business Services: Franchise-based small business accounting and tax services network with localized offices. Directly comparable as a small-firm CPA targeting SMB tax, bookkeeping, and payroll — though delivered through a franchise model.
• Clark Schaefer Hackett: Ohio-based accounting and advisory firm providing audit, tax, and consulting services to middle-market companies and non-profits. Comparable in regional CPA positioning and industry specialization (construction, manufacturing, non-profit).

Emerging players

• Pilot.com: Tech-enabled bookkeeping, accounting, and CFO services platform targeting SMBs and startups. Comparable as a CPA-adjacent provider of accounting, bookkeeping, and tax services — differentiated by technology-first delivery and subscription pricing.
• Bench: Cloud-based bookkeeping and accounting platform for small businesses with bundled tax and financial reporting. Competes for the same SMB accounting and tax prep wallet with a software-led delivery model.
• 1-800Accountant: Virtual accounting and tax preparation service targeting small businesses and individuals. Directly comparable on core tax, bookkeeping, and advisory services but with a national remote-only delivery model rather than in-person regional offices.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Banks and Associates