Twin Cedars Bank
Twin Cedars Bank is a privately held Iowa community bank offering personal, business, agricultural, mortgage, and wealth banking services through four Iowa branches and digital platforms to consumers, SMBs, agricultural operators, and high-net-worth households.
- Company typePrivate
- Founded1892
- HeadquartersBussey, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Twin Cedars Bank does
Twin Cedars Bank is a privately held Iowa community bank headquartered in Bussey that provides personal, business, agricultural, mortgage, and wealth banking services through four physical branches (Bussey, Oskaloosa, Lovilia, and Des Moines) supplemented by digital banking platforms including online banking, mobile banking, mobile deposit, Zelle, and Treasury Online. The bank operates under the holding company Twin Cedars Bancorp, Inc. (formerly Palm Grove Bancorp), which acquired State Bank of Bussey on July 1, 2022 and rebranded it; the institution traces its operating history to 1892. Its product suite spans Cedar Peak Rewards Checking, savings and money market accounts, a 9-Month CD Special at 4.00% APY, consumer and personal loans, credit cards, home mortgages (including bridge, construction, jumbo, and investment property loans), commercial lending and equipment financing/leasing, agricultural lending through USDA Farm Loan Programs, business checking and savings, treasury management, payment processing, and personal and commercial insurance, along with wealth banking services such as family office and practice capital.
The bank earns revenue primarily through net interest income on its loan and deposit portfolio, complemented by fee-based services including treasury management, payment processing, credit cards, wealth management, and insurance; specific loan and fee pricing is quote-based and not publicly disclosed. Twin Cedars Bank serves individual consumers, small and mid-sized businesses, agricultural operations, and high-net-worth households, distributing its products through branch-based relationship banking, self-serve digital channels, and direct sales to enterprise customers. The bank holds $118 million in total assets and reports $165 million in assets under management as of August 2025, is FDIC-insured, and has been recognized on the Inc. 5000 list of America's fastest-growing private companies in 2024 and 2025.
Twin Cedars Bank completed a $9,000,000 Series A capital raise followed by a $5,360,000 Series B raise in July 2024, both led by Chairman Rudy Fors, to fund strategic growth initiatives including expansion into the Greater Des Moines Metropolitan area; the Des Moines office opened February 20, 2024 and serves clients both digitally and by appointment. Technology infrastructure is described as standard banking systems rather than proprietary AI-driven platforms, and the bank differentiates through a 130-year community heritage, personalized relationship banking, local decision-making for flexible lending, and government-guaranteed lending partnerships with the SBA, USDA, and Iowa economic development programs.
Twin Cedars Bank firmographics
Firmographics- Name
- Twin Cedars Bank
- Legal name
- Twin Cedars Bancorp, Inc.
- Website
- https://twincedars.bank
- Company type
- Private
- Founded year
- 1892
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Twin Cedars Bank is a privately held Iowa community bank offering personal, business, agricultural, mortgage, and wealth banking services through four Iowa branches and digital platforms to consumers, SMBs, agricultural operators, and high-net-worth households.
- Ownership category
- akta.pro rank
Twin Cedars Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)
Keywords
Where Twin Cedars Bank is headquartered
LocationHeadquarters
- HQ city
- Bussey
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Twin Cedars Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Interest Income from Lending: Traditional banking revenue from interest earned on loans including commercial loans, agricultural loans, consumer loans, and mortgages. The bank offers various lending products including business loans, farm and ranch loans, construction loans, and jumbo mortgages.
- Deposit Services and Interest Expense: Revenue from deposit accounts including checking, savings, money market accounts, and Certificates of Deposit. The bank offers competitive rates including a 9-Month CD Special at 4.00% APY.
- Fee-Based Services: Revenue from various banking fees including treasury management services, payment processing, credit cards, and wealth management services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | 9-Month CD Special |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Twin Cedars Bank product offering
Product offeringCore offering
Twin Cedars Bank is a community bank providing personal, business, and agricultural banking services through four physical branches in Iowa and digital banking platforms. The bank offers deposit products (checking, savings, CDs), consumer and commercial lending (including agricultural and mortgage loans), treasury management, payment processing, wealth management, and insurance products.
Product overview
Twin Cedars Bank is a community-focused regional bank offering a comprehensive suite of financial products and services through a multi-channel delivery model. The bank's product portfolio consists of two primary segments: Personal Banking (including checking, savings, CDs, consumer loans, mortgages, credit cards, wealth management, and personal insurance) and Business & Ag Banking (including business checking, commercial loans, agricultural lending, equipment financing, treasury management, payment processing, and business insurance). The bank differentiates through digital banking capabilities including online and mobile banking, mobile deposit, and Zelle person-to-person payments, complemented by four physical branch locations in Iowa (Bussey, Lovilia, Oskaloosa, and Des Moines). The bank also provides advisory services encompassing efficiency consulting, merger and acquisition guidance, and government guarantee programs (SBA and USDA loans).
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Personal checking account options including Cedar Peak Rewards Checking with competitive rates and rewards, designed for simplified account management with mobile and online banking access for individual consumers.
- Savings & Money Market Accounts Personal savings and money market account options with competitive interest rates, FDIC protection on large deposits, and secure ATM card access for individual consumers.
- Certificate of Deposit (CD) Accounts Fixed-term deposit accounts with guaranteed returns, including a 9-Month CD Special offering 4.00% Annual Percentage Yield, for individual savers seeking predictable returns.
- Consumer Loans Personal loan products including auto loans, personal lines of credit, and overdraft loans with minimum amounts starting at $5,000, available through an online application process for individual consumers.
- Credit Cards Consumer credit cards with reward and cash-back options, accessible through online application with instant approval pathway for individual consumers.
- Home Mortgage Loans Full suite of mortgage products including bridge loans, first-time home buyer loans, home construction and renovation loans, vacation home and investment property loans, and jumbo loans for residential property financing.
- Wealth Management Comprehensive wealth banking services including family office, practice capital programs, wealth loans and lines of credit, wealth banking checking and savings accounts, insurance, and credit cards for high-net-worth individuals and business owners.
- Personal Insurance Personal insurance products including auto, home/condo, boat, motorcycle, renters, RV, and umbrella coverage available through a quote request process for individual consumers.
- Business Checking Accounts Business deposit accounts with new customer information profiles and comprehensive business checking solutions for companies of all sizes.
- Business Loans Commercial lending solutions including business loans, lines of credit, equipment financing, and equipment leasing for business growth and operations.
- Agricultural Banking and Lending Specialized farm and ranch banking services including agricultural loans, USDA Farm Loan Programs, and tailored financing solutions for agricultural operations.
- Treasury Management Services Cash management solutions including Treasury Online for business banking, ACH payroll, wires, international wires, and other cash management services for business customers.
- Payment Processing Payment processing services for business banking customers to accept and manage various payment methods.
- Commercial Insurance Business insurance products available through quote request, covering various commercial lines of business.
- Business Advisory and Consulting Advisory and consulting services to help businesses grow, including efficiency consulting, merger and acquisition guidance, and government guarantee programs.
- Online and Mobile Banking Digital banking platform enabling customers to access accounts online, use mobile banking features, and perform mobile deposits remotely.
- FDIC Insurance Cash Sweep FDIC protection service that provides insurance coverage on large deposits through a cash sweep program, protecting customer funds up to FDIC limits.
Quantifiable outcome
- Same-day loan funding available for qualified borrowers
Companies that use Twin Cedars Bank
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
Twin Cedars Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Twin Cedars Bank partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, major and minor.
- FDICcoreFederal Deposit Insurance Corporation providing deposit insurance coverage for bank customers. The bank is FDIC-insured, backed by the full faith and credit of the U.S. Government.
- Small Business Administration (SBA)majorSBA lending programs providing government guarantee programs for small business loans. The bank works with SBA to offer SBA loans including SBA 504 financing for equipment and real estate.
- Iowa Business GrowthmajorPartnership for SBA 504 financing on equipment and real estate for Iowa businesses.
- Iowa Center for Economic SuccessminorEconomic development organization that empowers Iowans to launch, manage, and grow small businesses.
- USDA Farm Loan ProgramsmajorAgricultural lending programs available to assist in starting, expanding or maintaining a farm or business.
- Iowa Economic Development ProgramsminorAdditional tools and programs to expand Iowa businesses.
- Arbor Day FoundationminorCoffee bag sales with 100% of proceeds donated to the Arbor Day Foundation.
- United Way of Central IowaminorCommunity support partnership - United Way empowers communities by promoting education, encouraging healthy living, and strengthening financial stability.
- United Way of Mahaska CountyminorCommunity support partnership serving Mahaska County communities.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Twin Cedars Bank competitors and assessment
Company assessmentDirect peers
- Bank Iowa: Iowa-based community bank offering personal, business, and ag banking across the state. Closest direct competitor given overlapping geography, product set, and target customer base of Iowa consumers, farmers, and small businesses.
- Midstates Bank: Iowa-chartered community bank operating across western Iowa. Comparable in size, branch-based community banking model, and focus on ag and small business lending.
- Farm Credit Services of America: Major ag lending cooperative serving Iowa and surrounding states. Directly comparable to Twin Cedars' ag banking and lending line, including farm real estate, operating, and equipment loans.
- Hills Bank: Iowa-based community bank headquartered in Hills, Iowa with statewide branch presence. Comparable in product breadth (consumer, business, ag, mortgage) and community banking positioning to Twin Cedars.
- West Bank: Iowa-based community bank serving consumers and businesses across western and central Iowa. Peer given similar Iowa footprint, ag lending exposure, and full-service community banking model.
Broad incumbents
- Heartland Financial USA (now HTLF / Old National): Large Midwest bank holding company operating community banks across multiple states. Represents the broader incumbent competitive set that Twin Cedars competes against for ag and SMB relationships in Iowa.
- MetaBank (Pathward Financial): Iowa-headquartered financial institution with community bank roots now operating nationally in fintech and banking services. Relevant as a larger Iowa-domiciled incumbent with consumer and small business banking exposure.
Others
- Shazam (SHAZAM Network): Iowa-based payments network and core banking technology provider serving community banks. Comparable not as a competitor but as an enabling/technology partner used by similar community banks for digital banking and payments infrastructure.
Emerging players
- Live Oak Banking Company: Digital-forward community bank focused on small business and specialty lending, including SBA-heavy product mix. Comparable to Twin Cedars' growth-oriented community banking approach and SBA 504/government guarantee lending focus.
Regional players
- GreenState Credit Union: Large Iowa-based credit union offering personal, business, mortgage, and wealth services across Iowa and the Midwest. Competes for the same household and SMB deposits, though structurally a credit union rather than a bank.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Twin Cedars Bank social profiles
Digital presenceTwin Cedars Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Twin Cedars Bank leadership team
Management profileNumber of profiles
Profiles12 records
Twin Cedars Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Twin Cedars 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 Twin Cedars Bank
What does Twin Cedars Bank do?
Twin Cedars Bank is a community bank providing personal, business, and agricultural banking services through four physical branches in Iowa and digital banking platforms. The bank offers deposit products (checking, savings, CDs), consumer and commercial lending (including agricultural and mortgage loans), treasury management, payment processing, wealth management, and insurance products.
Is Twin Cedars Bank a public or private company?
Twin Cedars Bank is a private company. It is classified as venture growth investor backed and is currently operating.
When was Twin Cedars Bank founded?
Twin Cedars Bank was founded in 1892. It employs 11 to 50 people.
Where is Twin Cedars Bank based?
Twin Cedars Bank is headquartered in Bussey, United States, in the North America region.
How does Twin Cedars Bank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Services and Interest Expense and fee-Based Services.
Who are Twin Cedars Bank's main competitors?
Direct peers on record are Bank Iowa, Midstates Bank, Farm Credit Services of America, Hills Bank and West Bank. Broad incumbents are Heartland Financial USA (now HTLF / Old National) and MetaBank (Pathward Financial). Shazam (SHAZAM Network) is listed as an others. Live Oak Banking Company is listed as an emerging player. GreenState Credit Union is listed as a regional player.
Does Twin Cedars Bank have an API?
No public API is recorded for Twin Cedars Bank.
What industry is Twin Cedars Bank in?
Twin Cedars Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks). Its NAICS code is 52211 and its SIC code is 6022.