First National Bank Of Gilbert
First National Bank of Gilbert is an independent FDIC-insured community bank founded in 1908, serving the Iron Range area of northern Minnesota through two branches with consumer, mortgage, and small business banking products.
- Company typePrivate
- Founded1908
- HeadquartersGilbert, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What First National Bank Of Gilbert does
First National Bank of Gilbert is an independent, FDIC-insured community bank established in 1908, headquartered at 2 North Broadway Street in Gilbert, Minnesota, with a second branch in Hoyt Lakes. The bank serves the Iron Range area of northern Minnesota with a full suite of consumer and small business banking products, including multiple checking accounts (Freedom, Summit/NOW, Gilbert Gold, Gilbert Gold Plus), savings accounts (Passbook, Buccaneer, Christmas Club, High-Yield), certificates of deposit with 6-to-30-month terms, Traditional and Roth IRAs, personal loans (vehicle, recreational, debt consolidation, Ready Reserve overdraft protection), conventional mortgages (primary residence, second home, investment, construction, refinance), and small business loans (real estate, equipment, lines of credit). Payment products include Visa Platinum credit cards, prepaid Visa gift cards, safe deposit boxes, wire transfers, direct deposit, and bank-by-mail services, while ancillary offerings span ID TheftSmart identity monitoring, notary services, and night deposit.
The bank's technology foundation is a standard community banking platform supporting 24/7 online banking, a mobile application, the Shazam ATM and debit card network, and integrations with third-party services such as MyCardStatement, MyCommunityCC, MainStreet Inc., MyGiftCardManager, ScoreCard Rewards, and TreasuryDirect. The platform relies on commodity infrastructure rather than proprietary technology, with no disclosed AI/ML capabilities or proprietary software assets. Regulatory standing includes FDIC insurance, Equal Housing Lender status, USA PATRIOT Act compliance, National Registry License #458904, and FFIEC IT Examination Handbook-aligned security controls.
The bank's revenue model is diversified across interest income on lending products (mortgages, personal, vehicle, recreational, business), deposit account fees and minimum-balance charges, overdraft protection interest, credit card interchange and revolving balance interest, wire transfer fees, safe deposit box rentals, gift card sales, and IRA-related fee income. The go-to-market motion is community-led and relationship-based, anchored by physical branch presence, local decision-making on loans, and word-of-mouth within the Iron Range service area. The customer base is a horizontal mix of individual consumers, small businesses, and retirees, served by fewer than 50 employees.
First National Bank Of Gilbert firmographics
Firmographics- Name
- First National Bank Of Gilbert
- Legal name
- First National Bank of Gilbert
- Website
- https://gilbertbank.com
- Company type
- Private
- Founded year
- 1908
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First National Bank of Gilbert is an independent FDIC-insured community bank founded in 1908, serving the Iron Range area of northern Minnesota through two branches with consumer, mortgage, and small business banking products.
- Ownership category
- akta.pro rank
First National Bank Of Gilbert industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
Keywords
Where First National Bank Of Gilbert is headquartered
LocationHeadquarters
- HQ city
- Gilbert
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
First National Bank Of Gilbert business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income: Interest earned on loan products including mortgages, personal loans, vehicle loans, recreational loans, and business loans. Primary revenue stream from lending activities.
- Deposit Account Fees: Monthly maintenance fees, transaction fees, and service charges on deposit accounts including checking and savings accounts when minimum balance requirements are not met.
- Overdraft Protection: Ready Reserve Account - a pre-approved personal loan product to cover overdrafts, generating interest income on the credit extended.
- Credit Card Services: Visa Platinum Credit Card program generating interchange fees and interest income on revolving balances.
- Safe Deposit Boxes: Annual rental fees for safe deposit boxes at both Gilbert and Hoyt Lakes locations.
- Wire Transfers: Fees for incoming and outgoing wire transfer services for customers and non-customers.
- Visa Gift Cards: Sale of prepaid Visa gift cards with stored value between $25 and $500.
- Certificate of Deposit Interest: CDs offering terms from 6 to 30 months with interest rates typically higher than checking/savings accounts, compounded quarterly. FDIC insured.
- IRA Accounts: Traditional and Roth IRA accounts with $50 minimum opening, generating fee income and deposit balances.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Passbook Savings - Basic savings account for all customers |
| Subscription | Monthly | Buccaneer Account - Children's savings for ages 18 and under |
| Subscription | Monthly | High-Yield Savings - Premium savings with higher requirements |
| Subscription | Monthly | Freedom Checking - Free checking account |
| Subscription | Monthly | Summit/NOW Account - Interest-bearing checking |
| Subscription | Monthly | Gilbert Gold Account - Senior checking account (55+) |
| Subscription | Monthly | Gilbert Gold Plus Account - Premium senior checking with interest |
| Subscription | Pay-as-you-go | Certificates of Deposit |
| Subscription | Pay-as-you-go | Traditional and Roth IRA |
| Subscription | Annual | Safe Deposit Box |
| Unit Pricing | Pay-as-you-go | Notary Public Service |
| Unit Pricing | One time/ perpetual license | Visa Gift Cards |
| Subscription | Pay-as-you-go | Traditional IRA |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels3 records
First National Bank Of Gilbert product offering
Product offeringCore offering
First National Bank of Gilbert is an independent community bank that accepts deposits and extends credit to individual consumers and small businesses across the Iron Range of northern Minnesota. Its product set spans checking, savings, certificates of deposit, and IRAs on the deposit side, alongside personal loans, residential mortgages, small business loans, a Visa Platinum credit card, and ancillary services such as safe deposit boxes, wire transfers, gift cards, and identity theft protection.
Product overview
First National Bank of Gilbert is an independent community bank serving the Iron Range area since 1908. The bank offers a unified portfolio of traditional banking products and services including multiple checking account options (Freedom Checking, Summit/NOW Account, Gilbert Gold Account, Gilbert Gold Plus Account), savings accounts (Passbook Savings, Buccaneer Account for children, Christmas Club Account, High-Yield Savings), Certificates of Deposit with terms from 6-30 months, and retirement accounts (Traditional IRA, Roth IRA). The lending portfolio includes personal loans (Vehicle Loans, Recreational Loans, Debt Consolidation Loans), mortgages (Conventional Mortgages for primary residences, second homes, investment properties, construction, and refinancing), and business loans (Small Business Loans, Equipment Purchasing, Lines of Credit). Additional services include Visa credit and gift cards, Safe Deposit Boxes, overdraft protection (Ready Reserve), wire transfers, direct deposit, notary services, night deposit, ID TheftSmart identity protection, and an extensive Financial Calculators Suite for customer planning needs.
Differentiator
Problem solved
Functional benefit
Products and services
- Freedom Checking
- Summit/NOW Account
- Gilbert Gold Account
- Gilbert Gold Plus Account
- Passbook Savings
- Buccaneer Account
- Christmas Club Account
- High-Yield Savings
- Certificates of Deposit (CDs)
- Traditional IRA
- Roth IRA
- Vehicle Loans
- Recreational Loans
- Debt Consolidation Loans
- Ready Reserve (Overdraft Protection)
- Conventional Mortgages
- Visa Platinum Credit Card
- Visa Gift Cards
- Safe Deposit Box
- Bank by Mail
- Direct Deposit
- Wire Transfers
- Night Deposit
- Notary Public
- ID TheftSmart
- ID TheftSmart Minor Monitoring
- US Savings Bonds
- Small Business Loans
- Equipment Purchasing Loans
- Business Lines of Credit
Companies that use First National Bank Of Gilbert
Customer profileSegments3 records
Ideal customer profiles3 records
First National Bank Of Gilbert technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
First National Bank Of Gilbert partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights5 records
First National Bank Of Gilbert competitors and assessment
Company assessmentBroad incumbents
- Bell Bank: Employee-owned community bank headquartered in Fargo, North Dakota, with operations across the Upper Midwest including Minnesota. Comparable in community-banking DNA and full-service consumer/SMB product mix, but operates at substantially greater scale than First National Bank of Gilbert.
- Bremer Bank: Large regional bank headquartered in St. Paul, Minnesota, with branches across Minnesota, Wisconsin, and the Dakotas. Comparable as a Minnesota-based community-focused bank, but materially larger in scale, geographic reach, and product breadth than First National Bank of Gilbert.
Direct peers
- Pine Country Bank: Small community bank operating in central and northern Minnesota. Comparable to First National Bank of Gilbert in independent ownership structure, community-banking focus, and reliance on local relationship lending in rural markets.
- Northwoods Bank of Minnesota: Independent community bank serving small towns and rural communities in northern Minnesota. Directly comparable to First National Bank of Gilbert in scale, geographic focus on rural northern Minnesota, and full-service consumer/SMB banking product set.
- Boundary Waters Bank: Community bank headquartered in northern Minnesota serving small communities in the region. Comparable to First National Bank of Gilbert in geographic focus, small-town customer base, and traditional community banking model.
- Northern State Bank: Community bank serving small communities across northern Minnesota with deposit and lending products. Comparable to First National Bank of Gilbert in scale, community-led go-to-market, and rural northern Minnesota service area.
- First National Bank of Bemidji: Independently owned community bank in northern Minnesota sharing the "First National Bank" naming convention and offering a similar full-service retail and small-business banking suite. Comparable in charter type and northern Minnesota focus.
- American Bank of the North: Independent community bank headquartered in International Falls, Minnesota, with branches across northern Minnesota. Closely comparable to First National Bank of Gilbert in terms of rural Minnesota geography, independent ownership, FDIC-insured charter, and full-service consumer and small-business banking focus.
- Heritage Bank of Minnesota: Independently owned community bank operating across central and northern Minnesota. Directly comparable to First National Bank of Gilbert as a small Minnesota community bank offering consumer and small-business banking products.
- Lake Superior Community Bank: Community bank serving communities along Minnesota's North Shore and Iron Range region. Directly comparable to First National Bank of Gilbert as a small, independently owned community bank offering deposit and lending services in the same northern Minnesota market.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
First National Bank Of Gilbert social profiles
Digital presenceFirst National Bank Of Gilbert compliance and trust
Trust signalCompliance3 records
First National Bank Of Gilbert financial estimates
Financial estimateRevenue estimate
Valuation estimate
First National Bank Of Gilbert leadership team
Management profileNumber of profiles
Profiles3 records
First National Bank Of Gilbert funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First National Bank Of Gilbert 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 First National Bank Of Gilbert
What does First National Bank Of Gilbert do?
First National Bank of Gilbert is an independent community bank that accepts deposits and extends credit to individual consumers and small businesses across the Iron Range of northern Minnesota. Its product set spans checking, savings, certificates of deposit, and IRAs on the deposit side, alongside personal loans, residential mortgages, small business loans, a Visa Platinum credit card, and ancillary services such as safe deposit boxes, wire transfers, gift cards, and identity theft protection.
Is First National Bank Of Gilbert a public or private company?
First National Bank Of Gilbert is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First National Bank Of Gilbert founded?
First National Bank Of Gilbert was founded in 1908. It employs 11 to 50 people.
Where is First National Bank Of Gilbert based?
First National Bank Of Gilbert is headquartered in Gilbert, United States, in the North America region.
How does First National Bank Of Gilbert make money?
Nine revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees, overdraft Protection, credit Card Services, safe Deposit Boxes, wire Transfers, visa Gift Cards, certificate of Deposit Interest and IRA Accounts.
Who are First National Bank Of Gilbert's main competitors?
Broad incumbents on record are Bell Bank and Bremer Bank. Direct peers are Pine Country Bank, Northwoods Bank of Minnesota, Boundary Waters Bank, Northern State Bank, First National Bank of Bemidji, American Bank of the North, Heritage Bank of Minnesota and Lake Superior Community Bank.
Does First National Bank Of Gilbert have an API?
No public API is recorded for First National Bank Of Gilbert.
What industry is First National Bank Of Gilbert in?
First National Bank Of Gilbert's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAB, Retail Lending (Personal Loans, Auto, Credit Lines). Its NAICS code is 52211 and its SIC code is 6021.