CIB Marine Bancshares

What CIB Marine Bancshares does

CIB Marine Bancshares, Inc. is a publicly traded bank holding company (OTCQX: CIBH) founded in 1985 and headquartered in Brookfield, Wisconsin. It operates through its wholly owned subsidiary CIBM Bank, an Illinois chartered commercial bank headquartered in Champaign, Illinois, with nine banking offices across six states concentrated in Illinois, Wisconsin, and Indiana. The company emerged from a court-approved reorganization in January 2010 and is regulated by the Federal Reserve.

CIBM Bank generates revenue through a traditional spread-based community banking model: net interest income from commercial loans, commercial real estate loans, construction loans, government guaranteed loans, residential real estate loans, home equity loans, and consumer loans, supplemented by fees on deposit accounts, cash management, letters of credit, and repurchase agreements. Its primary customer segment is small and middle-market businesses, with consumer and residential mortgage customers served alongside the commercial book. Two specialized divisions extend the platform: the Government Guaranteed Lending Division (formed 2016, originating SBA/USDA-style loans across the Midwest and Southeast) and the Mortgage Division (headquartered in Naperville, Illinois, operating in nine states). Customer-facing technology is limited to a third-party online banking portal and the ProfitStars SmartPay personal loan payment service.

The company's go-to-market is branch-led, relationship-based community banking, with no disclosed partnership channel, no app, and no API or digital platform. In 2019, the company unified five legacy brands (Central Illinois Bank, Marine Bank, Avenue Bank, Avenue Mortgage, and Citrus Bank) under the single CIBM Bank name. Capital management has been the principal recent activity: the company completed an $18M preferred stock redemption in November 2021, a $4.8M preferred stock redemption in December 2022, a capital offering in February 2022, and the final preferred stock redemption in October 2024, with ongoing common stock repurchases expanded to $3.5M through December 2026.

Name

CIB Marine Bancshares

Legal name

CIB Marine Bancshares, Inc.

Website

https://cibmarine.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

101–250 employees

Short description

CIB Marine Bancshares is a publicly traded bank holding company operating CIBM Bank, an Illinois chartered commercial bank serving small and middle-market businesses and consumers across Illinois, Wisconsin, and Indiana through nine branches and a multi-state mortgage division.

Ownership category

akta.pro rank

Headquarters

HQ city

Waukesha

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Distribution channels1 record

Marketing channels3 records

Core offering

CIB Marine Bancshares is a bank holding company that owns and operates CIBM Bank, an Illinois chartered commercial bank. Through its branch network and specialized divisions, it offers commercial loans, commercial real estate loans, construction loans, government guaranteed loans, residential real estate loans, home equity loans, consumer loans, deposit accounts (savings, checking, time deposits), cash management, and repurchase agreements to small and middle-market businesses and consumers across Illinois, Wisconsin, and Indiana.

Product overview

CIB Marine Bancshares operates as a bank holding company owning and operating CIBM Bank, an Illinois chartered commercial bank. The company offers a unified banking platform comprising core commercial and retail banking services through CIBM Bank, supplemented by specialized divisions including the Mortgage Division (residential mortgage services across nine states) and the Government Guaranteed Lending Division (loan origination in Midwest and Southeast). The product portfolio includes deposit accounts (savings, checking, time deposits), loan products (commercial, commercial real estate, construction, government guaranteed, residential real estate, home equity, consumer), cash management, repurchase agreements, and digital banking services. Prior to 2019, the company operated under multiple brands (Central Illinois Bank, Marine Bank, Avenue Bank, Avenue Mortgage) which were unified under the CIBM Bank name.

Differentiator

Problem solved

Functional benefit

Brands

• CIBM Bank: Illinois chartered commercial bank, the primary operating subsidiary of CIB Marine Bancshares, Inc., offering full array of traditional banking services including commercial loans, real estate loans, construction loans, government guaranteed loans, residential loans, consumer loans, and deposit accounts.
• CIBM Bank Mortgage Division
• Government Guaranteed Lending Division

Products and services

• CIBM Bank Commercial Banking Services Full-service community and commercial banking offered through CIBM Bank, an Illinois chartered commercial bank headquartered in Champaign, Illinois. Provides commercial loans, commercial real estate loans, construction loans, residential real estate loans, home equity loans, consumer loans, deposit accounts (savings, checking, time deposits), cash management, commercial and standby letters of credit, and repurchase agreements to small and middle-market businesses and consumers.
• Mortgage Division Residential Lending Residential mortgage services division headquartered in Naperville, Illinois, with mortgage professionals and/or offices across nine states serving all CIBM Bank markets. Originated from the 2013 acquisition of Avenue Mortgage Corp. assets.
• Government Guaranteed Lending Division Specialized division formed in 2016 that originates government guaranteed loans for businesses throughout the Midwest and Southeast regions.
• Online Banking Digital banking platform allowing CIBM Bank customers to access accounts, manage finances, and conduct transactions online.
• Personal Payments (SmartPay Loan Payments) Online personal loan payment service enabling borrowers to make payments on personal loans through the SmartPay platform powered by ProfitStars.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Horizon Bancorp: Indiana-headquartered community bank holding company with operations across Indiana and Michigan offering comparable commercial, mortgage, and consumer products. Overlapping Midwest geography and similar size tier.
• First Busey Corporation: Illinois-headquartered community bank holding company (now including First Mid Bancshares) operating across Illinois, Indiana, and adjacent Midwest states with similar deposit and commercial lending offerings. Directly overlapping geography and product mix.
• Byline Bancorp: Chicago-based community bank focused on small and middle-market businesses with a similar commercial and CRE lending profile. Comparable customer segments and Midwest operating footprint to CIB Marine.
• First Business Financial Services: Wisconsin-based community bank holding company with a similar small/middle-market commercial banking franchise and specialty lending capabilities. Direct peer in CIB Marine's home state of Wisconsin.
• Old Second Bancorp: Illinois-headquartered community bank holding company operating a similar multi-county branch network in northern Illinois with comparable commercial, real estate, and consumer lending mix. Closest geographic and product-market peer to CIBM Bank's Illinois core.
• Nicolet Bankshares: Wisconsin-based community bank holding company serving small and middle-market businesses and consumers with similar commercial banking, mortgage, and deposit products. Closely comparable to CIB Marine's Wisconsin operations.
• Lakeland Financial Corporation: Indiana-based community bank holding company (Lake City Bank) serving small and middle-market businesses with comparable commercial, CRE, and mortgage products. Direct Midwest peer with similar customer profile.

Broad incumbents

• First Merchants Corporation: Indiana-headquartered regional bank holding company operating across Indiana, Illinois, Ohio, and Michigan with a broader branch network and similar commercial banking product set. Larger incumbent operating in the same Midwest footprint.
• Wintrust Financial Corporation: Chicago-based community-oriented bank holding company with a multi-state Midwest footprint and specialty lending including mortgage, wealth management, and commercial banking. Larger incumbent overlapping the Illinois and Wisconsin markets.

Regional players

• Bridgewater Bancshares: Minnesota-headquartered community bank of comparable size, serving small and middle-market commercial clients with a similar loan and deposit product mix. Comparable size and business model though operating in a different Midwest geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CIB Marine Bancshares