Pine River State Bank
Pine River State Bank is a family-owned, FDIC-insured community bank founded in 1918, operating five branches in central Minnesota (Pine River, Emily, Pillager, Breezy Point, Nowthen). It serves local individuals, small businesses, and farms with traditional deposit, lending, card, and merchant services products plus online and mobile banking.
- Company typePrivate
- Founded1935
- HeadquartersPine River, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Pine River State Bank does
Pine River State Bank is a family-owned, state-chartered community bank headquartered in Pine River, Minnesota, operating five fully-staffed branch locations across central Minnesota: Pine River, Emily, Pillager, Breezy Point, and Nowthen. The bank traces its charter to 1918 (originally issued as Farmers State Bank of Guthrie) and relocated to Pine River in November 1935; it was purchased by a group of investors headed by Charles Nelson in 1983, and the Nelson family continues to own and operate the bank, with three generations currently working there. It is FDIC-insured and not publicly traded.
The bank offers a traditional community banking product portfolio segmented into Personal Banking (checking, savings, Kasasa reward accounts, CDs and IRAs, debit/ATM cards, credit cards, safe deposit boxes) and Business Banking (business checking and savings, business debit/credit cards, merchant services). Its lending products span real estate mortgages and construction loans, personal loans including home equity, commercial loans for working capital and expansion, and specialized agricultural loans for farming operations. Customer acquisition is primarily branch-driven across its five physical locations, augmented by online account enrollment for select products and a Mobile Banking App for account access and management. Marketing emphasizes community involvement, family ownership, and local decision-making rather than scale or technology differentiation.
The revenue model is the standard community bank spread-plus-fee construct. Net interest income is generated from real estate, personal, commercial, and agricultural lending, while noninterest income comes from deposit account fees, debit/ATM and credit card services, merchant services payment processing, and certificate of deposit / IRA account fees. Technology infrastructure is conventional: SSL-secured online banking with ID and PIN authentication, a mobile banking application, and interactive financial calculators on the website. No public APIs, developer tools, AI/ML capabilities, or proprietary technology platforms are documented in the source material.
Pine River State Bank firmographics
Firmographics- Name
- Pine River State Bank
- Legal name
- Pine River State Bank
- Website
- https://pineriverstatebank.com
- Company type
- Private
- Founded year
- 1935
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Pine River State Bank is a family-owned, FDIC-insured community bank founded in 1918, operating five branches in central Minnesota (Pine River, Emily, Pillager, Breezy Point, Nowthen). It serves local individuals, small businesses, and farms with traditional deposit, lending, card, and merchant services products plus online and mobile banking.
- Ownership category
- akta.pro rank
Where Pine River State Bank is headquartered
LocationHeadquarters
- HQ city
- Pine River
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Pine River State 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, Others
Revenue model
- Interest Income: Traditional banking revenue from interest earned on loans including real estate loans, personal loans, business/commercial loans, and agricultural loans.
- Deposit Account Fees: Fees associated with personal and business checking and savings accounts, including Kasasa accounts.
- Card Services: Revenue from debit/ATM cards and credit cards for both personal and business customers.
- Certificate of Deposit & IRA: Time deposits and individual retirement accounts generating稳定的利息收入。
- Merchant Services: Payment processing services for business customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal and business checking and savings account pricing not publicly disclosed. |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
Pine River State Bank product offering
Product offeringCore offering
Pine River State Bank is a family-owned community bank that provides traditional personal and business banking products and services through five physical branch locations in central Minnesota, complemented by online and mobile banking. Its core offerings include checking and savings accounts (including Kasasa reward accounts), certificates of deposit, IRAs, credit and debit cards, safe deposit boxes, and merchant services, along with real estate, personal, commercial, and agricultural loans.
Product overview
Pine River State Bank offers a traditional community banking portfolio organized around personal and business banking segments. The core offerings include checking and savings accounts, credit cards, and certificates of deposit, with Kasasa® branded reward accounts as a differentiated checking/savings product. Lending products span real estate mortgages, construction loans, commercial loans, agricultural loans, and personal loans. Digital banking is delivered through a web-based Online Banking platform and Mobile Banking App. Additional services include Merchant Services for business payment processing, Safe Deposit Boxes, and Financial Calculators for customer self-service. The bank operates five physical branch locations in Minnesota serving local communities.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Personal checking accounts providing everyday banking services with features like debit cards and online access for individual consumers.
- Personal Savings Savings accounts for personal banking customers to deposit and grow their money.
- Kasasa® Accounts Reward-based checking and savings accounts offering cash back and high interest rates when account qualifications are met, for individual consumers.
- Certificates of Deposit & IRA Term deposit accounts and Individual Retirement Accounts for long-term savings and retirement planning.
- Personal Credit Cards Personal credit card products for consumer banking customers.
- Business Checking Commercial checking accounts designed for business banking needs.
- Business Savings Savings accounts for business customers to manage and grow business funds.
- Business Credit Cards Credit card products designed for business spending and cash flow management.
- Merchant Services Payment processing services for businesses to accept card transactions.
- Real Estate Loans Mortgages and construction loans for purchasing or improving residential properties, including primary and seasonal residences.
- Personal Loans Consumer loans for personal financial needs including home equity, auto, and other personal purposes.
- Commercial Loans Business lending products for commercial customers including working capital and expansion financing.
- Agricultural Loans Specialized financing for farming and agricultural operations.
- Online Banking Web-based platform for account management, bill pay, transfers, and accessing account information online.
- Mobile Banking App Smartphone application for mobile banking access including account management on the go.
- Safe Deposit Boxes Secure storage boxes available at branch locations for safekeeping of personal valuables and documents.
Companies that use Pine River State Bank
Customer profileSegments2 records
Ideal customer profiles2 records
Pine River State Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Pine River State Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FDICcoreFederal Deposit Insurance Corporation providing deposit insurance up to $250,000 per depositor. The bank is a Member FDIC, backed by the full faith and credit of the U.S. Government.
Scale indicators3 records
Recent moves5 records
Expansion highlights4 records
Pine River State Bank competitors and assessment
Company assessmentBroad incumbents
- U.S. Bank: Minneapolis-headquartered national bank with the deepest Minnesota branch and digital footprint, competing for the same consumer, SMB, agricultural, and mortgage customers across Pine River's footprint at much greater scale.
- Bremer Bank: Large Minnesota-headquartered regional bank with broad personal/business banking services across the state, including rural geographies served by Pine River. Overlaps in product set and customer segments but at materially greater scale and branch reach.
- Old National Bank: Midwest regional bank with full personal, business, agricultural, and mortgage banking, including Minnesota markets acquired from KleinBank. Overlaps with Pine River across the entire product suite, but at significantly larger scale.
- Wells Fargo: National bank with significant Minnesota branch presence and full personal/business/agricultural lending capability, serving the same end-markets and applying pricing pressure on deposits and loans in Pine River's counties.
Direct peers
- Sunrise Banks: Minnesota-based community bank (B-Corp certified) with comparable personal/business lending focus and agricultural banking exposure. Targets similar SMB and consumer segments in rural and suburban Minnesota.
- KleinBank: Minnesota-headquartered community bank (now part of Old National) operating in suburban and exurban Minneapolis counties, with similar full-service community banking model and loan/deposit mix serving local consumers and businesses.
- Frandsen Bank & Trust: Minnesota/Wisconsin-based community bank holding company with a similar multi-branch regional footprint, family/community orientation, and full personal and business banking product mix. Closely comparable in size, governance philosophy, and target customer base.
- Deerwood Bank: Minnesota community bank with overlapping footprint in central/northern Minnesota, providing comparable personal, business, and real estate lending products to rural and small-town customers.
- State Bank of Cross Plains: Wisconsin-based community bank with a comparable multi-branch, locally-focused model and full personal/business banking suite, serving small-town markets in a similar agricultural and seasonal-recreation economy.
Emerging players
- Hiway Credit Union: Minnesota-based member-owned credit union serving a similar consumer and SMB audience with deposits, lending, and digital banking — overlaps with Pine River on core banking products but operates under a cooperative rather than commercial bank charter.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Pine River State Bank social profiles
Digital presencePine River State Bank compliance and trust
Trust signalCompliance1 record
Pine River State Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pine River State Bank leadership team
Management profileNumber of profiles
Pine River State Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pine River State 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 Pine River State Bank
What does Pine River State Bank do?
Pine River State Bank is a family-owned community bank that provides traditional personal and business banking products and services through five physical branch locations in central Minnesota, complemented by online and mobile banking. Its core offerings include checking and savings accounts (including Kasasa reward accounts), certificates of deposit, IRAs, credit and debit cards, safe deposit boxes, and merchant services, along with real estate, personal, commercial, and agricultural loans.
Is Pine River State Bank a public or private company?
Pine River State Bank is a private company. It is classified as family owned and is currently operating.
When was Pine River State Bank founded?
Pine River State Bank was founded in 1935. It employs 11 to 50 people.
Where is Pine River State Bank based?
Pine River State Bank is headquartered in Pine River, United States, in the North America region.
How does Pine River State Bank make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees, card Services, certificate of Deposit & IRA and merchant Services.
Who are Pine River State Bank's main competitors?
Broad incumbents on record are U.S. Bank, Bremer Bank, Old National Bank and Wells Fargo. Direct peers are Sunrise Banks, KleinBank, Frandsen Bank & Trust, Deerwood Bank and State Bank of Cross Plains. Hiway Credit Union is listed as an emerging player.
Does Pine River State Bank have an API?
No public API is recorded for Pine River State Bank.