Rivers Edge Bank

What Rivers Edge Bank does

Rivers Edge Bank is a privately held community bank headquartered in Parker, South Dakota, operating five branch locations across southeast South Dakota (Bridgewater, Howard, Marion, Parker) and northwest Iowa (Hawarden). Formed in 2017 through the merger of three predecessor community banks whose histories extend back to 1904, 1926, and 1934, the bank is 100% locally owned with ownership distributed across all five communities it serves. The bank is FDIC-insured and serves individuals and families, small and medium businesses, farmers and agricultural operations, and homebuyers in its service area.

The bank's product suite is organized across four categories: personal banking (checking and savings, CDs and IRAs, debit cards, online and mobile banking with mobile deposit and bill pay, consumer loans); business banking (checking, business loans, operating lines of credit, and a Business Banking Online platform with ACH, Merchant Capture remote deposit, Positive Pay fraud protection, and Quicken/QuickBooks integration); agriculture banking (operating lines of credit, farm real estate and equipment loans, and crop and livestock insurance brokered through NAU Country Insurance Company); and mortgage products (in-house balloon loans, secondary market loans brokered through Iowa Bankers Mortgage Corporation, hobby farm loans through Compeer Financial, FHA/USDA/VA government-guaranteed loans, SD Housing loans, construction loans, and home equity loans and HELOCs). Technology is standard community-banking infrastructure including a web and mobile banking platform, mobile deposit, and integrations with consumer accounting software; no proprietary AI/ML capabilities are disclosed.

The bank generates revenue primarily through interest income on its loan portfolio (agricultural, commercial, residential mortgage, and consumer loans with fixed and variable rates and flexible repayment schedules), supplemented by deposit account and service fees, transaction-based revenue from mortgage origination and brokerage, and commission income from acting as an agent for crop and livestock insurance. Distribution is through the five branches with local decision-making, supplemented by digital channels for existing customers and self-service online account opening. In January 2026, the bank executed a planned leadership transition, appointing Jodi Eich as CEO (previously COO) with Cameron Becker continuing as President and Chief Credit Officer, Mary Dick promoted to COO, and former CEO Don Nolan transitioning to Chairman.

Name

Rivers Edge Bank

Legal name

Rivers Edge Bank

Website

https://riversedge.bank

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Rivers Edge Bank is a privately held community bank operating five branches across southeast South Dakota and northwest Iowa, serving individuals, small businesses, agricultural operations, and homebuyers with deposits, consumer and commercial loans, mortgages, and crop insurance.

Ownership category

akta.pro rank

Headquarters

HQ city

Bridgewater

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

Revenue model

1. Interest Income from Lending: The primary revenue stream is interest income generated from agricultural loans, business/commercial loans, residential mortgages, consumer loans, and lines of credit. The bank offers both fixed-rate and variable-rate loan products with various repayment schedules (monthly, quarterly, semi-annual, annual).
2. Deposit Account Fees and Service Charges: Revenue from checking and savings account maintenance, debit card usage, wire transfers, and other banking service fees.
3. Crop and Livestock Insurance: The bank acts as an agent for NAU Country Insurance Company, offering crop insurance (Revenue Protection, multi-peril, crop-hail) and Livestock Risk Protection (LRP) insurance, earning commission income on insurance policies sold.
4. Mortgage Origination and Servicing: The bank originates mortgages through in-house balloon products and brokers secondary market loans through Iowa Bankers Mortgage Corporation (IBMC), with servicing transferred to IBMC after closing. Government-guaranteed loans (FHA, USDA, VA) and SD Housing loans are also brokered.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Rivers Edge Bank is a privately held community bank providing personal, business, agricultural, and mortgage banking products and services across five branch locations in southeast South Dakota and northwest Iowa. Core offerings include checking and savings accounts, consumer and agricultural loans, business loans, residential mortgages, and crop and livestock insurance distributed in partnership with NAU Country Insurance Company. The bank combines local in-person decision-making with online, mobile, and Business Banking Online digital channels.

Product overview

Rivers Edge Bank is a community bank offering a comprehensive suite of banking products organized across four main categories: Personal Banking (checking/savings accounts, CDs & IRAs, debit cards, online/mobile banking, consumer loans), Business Banking (checking/savings accounts, business loans, operating lines of credit, Business Banking Online tools), Agriculture Banking (operating lines of credit, agriculture/farm loans, equipment loans, crop insurance), and Mortgage Products (fixed-rate mortgages, secondary market loans through IBMC, hobby farm loans, in-house balloon loans, government-guaranteed loans, construction loans, home equity products). The bank emphasizes local ownership and community reinvestment while providing digital banking capabilities including online/mobile banking, mobile deposit, and Business Banking Online with ACH, Positive Pay, and accounting software integrations.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking & Savings Accounts Personal and business deposit accounts including interest-bearing options with no monthly service fees or minimum balance requirements, available to individuals, families, and businesses across the bank's service area.

Quantifiable outcome

• Community banks achieve an 81% satisfaction rating compared to 68% for large banks and 43% for online lenders.
• +2 more outcomes

Named customers3 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

Integration2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• NAU Country Insurance CompanycoreChannel Partner/ Reseller/ DistributorRivers Edge Bank partners with NAU Country Insurance Company, one of the premier agriculture insurance providers in the country, to offer single-peril and multi-peril crop insurance products (including Revenue Protection and crop-hail), livestock insurance including Livestock Risk Protection (LRP), and precision farming technologies through the NAU Farmer Portal and NAU Country Mobile App.
• Iowa Bankers Mortgage Corporation (IBMC)coreChannel Partner/ Reseller/ DistributorRivers Edge Bank partners with Iowa Bankers Mortgage Corporation (IBMC) to offer long-term fixed-rate mortgage loans through the secondary market. Customers work with a Rivers Edge Bank loan officer through closing, after which servicing is transferred to IBMC.
• Compeer FinancialcoreChannel Partner/ Reseller/ DistributorRivers Edge Bank works with Compeer Financial to offer hobby farm and acreage loans with 15- or 30-year fixed-rate mortgage options. Servicing transfers to Rural Living Solutions (an arm of Compeer Financial).
• U.S. Small Business Administration (SBA)minorChannel Partner/ Reseller/ DistributorRivers Edge Bank is a long-time partner of the U.S. Small Business Administration (SBA), promoting the interests of small businesses through SBA-backed loans and startup business loans.
• SD HousingminorChannel Partner/ Reseller/ DistributorRivers Edge Bank has access to broker SD Housing loans, which are income-based loan options that can be combined with traditional or government-guaranteed loans. Available for first-time and repeat homebuyers with features including down payment assistance and Mortgage Credit Certificate (MCC) tax credit options.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Others

• Compeer Financial: Farm Credit System cooperative serving Illinois, Minnesota, and Wisconsin with ag lending, crop insurance, and rural living loans. Comparable as a current Rivers Edge partner (broker for hobby farm/acreage loans) and as an adjacent ecosystem participant providing credit and risk-management products to overlapping producer segments.
• NAU Country Insurance Company: Minnesota-based crop insurance provider and partner of Rivers Edge Bank for crop and livestock insurance products. Comparable as a key ecosystem partner enabling Rivers Edge's crop insurance revenue stream and as an adjacent ag-services participant serving the same producer base.

Broad incumbents

• Pathward (formerly MetaBank): Sioux Falls, SD-based bank holding company (formerly MetaBank) operating consumer and commercial banking plus fintech Banking-as-a-Service partnerships. Comparable as a SD-domiciled banking institution serving similar rural markets, though substantially larger and more diversified into specialized finance.
• Bell Bank: Fargo, ND-headquartered employee-owned community bank operating a larger footprint across the Upper Midwest (ND, MN, SD, AZ, WI). Comparable in community banking values, Upper Midwest geography, and personal/business/ag lending mix, but materially larger and more diversified than Rivers Edge.
• Great Western Bancorporation / First Interstate (Sioux Falls): Formerly Great Western Bank, headquartered in Sioux Falls, SD, with branches across SD, IA, MN, NE, KS, CO, AZ, UT, and NV; merged into First Interstate Bank in 2023. Comparable as a SD-based regional bank serving the same southeast SD / northwest Iowa market, but at significantly larger scale.

Direct peers

• CorTrust Bank: Sioux Falls, SD-based community bank serving South Dakota, Minnesota, and Iowa with consumer, business, and mortgage products. Comparable as a privately-held, locally-rooted SD community bank with multi-state rural footprint and similar deposit-and-lending product breadth.
• First Dakota National Bank: Chamberlain, SD-based community bank serving central and eastern South Dakota with agricultural, business, and personal banking. Comparable as a South Dakota-headquartered community bank with similar size, rural/agricultural customer concentration, and full-service product offering.
• Dacotah Bank: Aberdeen, SD-headquartered community bank with branches across North and South Dakota offering personal, business, and agricultural lending. Directly comparable as a regional community bank of similar scale, ag-lending depth, and small-town/rural customer focus in overlapping Dakotas geography.
• First International Bank & Trust: Fargo, ND-based community bank serving rural Upper Midwest customers across the Dakotas and surrounding states with personal, business, and agricultural banking. Directly comparable in product mix, rural footprint, and ag-lending focus; even referenced in Rivers Edge's own data as a prior employer of a loan officer.

Emerging players

• AgCountry Farm Credit Services: Farm Credit System lending cooperative serving farmers and agribusiness across Minnesota, North Dakota, and Wisconsin with real estate, operating, and equipment loans. Comparable as a competing agricultural lender operating in geographies adjacent to Rivers Edge's territory, with potentially more aggressive ag-loan capacity through the FCS charter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/riversedgebank
• LinkedInlinkedin.com/company/rivers-edge-bank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Rivers Edge Bank