Twin Cedars Bank

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.

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

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

• Community banking services
• Agricultural lending
• Commercial lending
• Treasury management
• Wealth management banking

Headquarters

HQ city

Bussey

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. 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.
2. 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.
3. Fee-Based Services: Revenue from various banking fees including treasury management services, payment processing, credit cards, and wealth management services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core 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

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• FDICcoreOthersFederal 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)majorStrategic or Co-development PartnerSBA 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 GrowthmajorStrategic or Co-development PartnerPartnership for SBA 504 financing on equipment and real estate for Iowa businesses.
• Iowa Center for Economic SuccessminorStrategic or Co-development PartnerEconomic development organization that empowers Iowans to launch, manage, and grow small businesses.
• USDA Farm Loan ProgramsmajorStrategic or Co-development PartnerAgricultural lending programs available to assist in starting, expanding or maintaining a farm or business.
• Iowa Economic Development ProgramsminorStrategic or Co-development PartnerAdditional tools and programs to expand Iowa businesses.
• Arbor Day FoundationminorGTM or Marketing PartnerCoffee bag sales with 100% of proceeds donated to the Arbor Day Foundation.
• United Way of Central IowaminorGTM or Marketing PartnerCommunity support partnership - United Way empowers communities by promoting education, encouraging healthy living, and strengthening financial stability.
• United Way of Mahaska CountyminorGTM or Marketing PartnerCommunity support partnership serving Mahaska County communities.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct 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

• Xx.com/twincedarsbank
• YouTubeyoutube.com/@TwinCedarsBank1892
• Facebookfacebook.com/TwinCedarsBank
• LinkedInlinkedin.com/company/twin-cedars-bank
• Instagraminstagram.com/twincedarsbank

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Twin Cedars Bank