B2 Bank

What B2 Bank does

B2 Bank (legal entity: B2 Bank National Association) is a federally chartered, FDIC-insured community bank founded in 1903, headquartered in Mountain Iron, Minnesota with a corporate office in Holladay, Utah. The bank operates two retail branches (Mountain Iron and Buhl) plus a fee-free ATM network at Short Stop convenience stores, and offers a full-service retail and small-business banking suite: personal and business checking, savings, money market, CDs, IRAs, credit cards (issued through Elan Financial Services), and a broad lending portfolio spanning vehicle, consumer, mortgage, home equity, construction, SBA, commercial, and equipment loans. Its technology layer is built on third-party infrastructure: Fiserv, Inc. provides online and mobile banking (with biometric login, card controls, and SMS alerts at short code 99588), and credit card networks (Visa, Mastercard, Discover) are used for card programs.

Since being acquired by M1 Finance in 2021, B2 Bank has been repositioning from a regional community bank to a nationwide digital banking and Banking-as-a-Service (BaaS) platform targeting fintech partners. In March 2026, the bank executed a full leadership overhaul, recruiting its CEO (Ryan Jaskiewicz), President (Chris Cucci), and Chief Credit and Risk Officer (Chris Van Buskirk) from Climate First Bank to lead the expansion. Revenue is generated primarily through net interest income on the $71.8 million asset base, modest account service charges on deposit products, credit card revenue sharing with Elan, and an emerging BaaS fee stream. The bank holds registered trademarks for the B2 BANK name and logo, maintains community engagement through mascot Penny the Pig and a quarterly newsletter ("Penny's Ponderings"), and serves three documented customer segments: Individual Consumers, Small and Medium Businesses, and (newly) Digital Banking Partners accessed via the BaaS channel.

Name

B2 Bank

Legal name

B2 Bank National Association

Website

https://b2.bank

Company type

Private

Founded year

1903

Operating status

Operating

Headcount range

11–50 employees

Short description

B2 Bank is a federally chartered, FDIC-insured community bank in northern Minnesota, founded in 1903 and owned by M1 Finance since 2021. It offers personal and small-business banking products and is expanding into nationwide Banking-as-a-Service for fintech partners.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Treasury, Cash Management & Liquidity (SME) (FSAGAJAG)

akta.pro secondary industry

SME Credit Risk, Underwriting & Financial Data (B2B Fintech Data/Decisioning) (FSAGAJAM)

Keywords

• Community banking services
• Banking-as-a-service platform
• Personal deposit accounts
• Commercial lending solutions
• Merchant payment processing

Headquarters

HQ city

Mountain Iron

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans, mortgages, credit cards, and other lending products. The bank offers personal loans, vehicle loans, mortgage loans, home equity loans, business loans, SBA loans, and commercial lending.
2. Account Service Charges: Monthly service charges on checking, savings, and money market accounts. Business checking charges $2.50 monthly (waived with $200 minimum balance), Small Business Interest Checking charges $10 monthly (waived with $1,000 minimum), Business Money Market charges $7.50 monthly (waived with $500 minimum), Business Savings charges $6 quarterly (waived with $100 minimum).
3. Credit Card Revenue Sharing: Revenue from credit card programs issued through Elan Financial Services. Both personal and business credit cards are offered with various reward structures including low rate, cash back, and flexible rewards options.
4. Banking-as-a-Service (BaaS): Digital banking infrastructure services offered to other businesses, positioning the bank for nationwide expansion. The $71.8 million asset bank is scaling BaaS operations to serve fintech and digital banking partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

B2 Bank is a full-service community bank offering personal and business deposit accounts (checking, savings, money market), credit cards, certificates of deposit, IRAs, consumer and commercial loans, SBA-backed lending, and merchant payment processing services delivered via physical branches, digital channels, and an emerging Banking-as-a-Service platform for fintech partners. The bank pairs traditional community banking relationships with modern online, mobile, and SMS-based banking infrastructure.

Product overview

B2 Bank is a full-service community bank offering a unified suite of traditional banking products and services. The portfolio comprises personal banking products (checking, savings, credit cards, CDs, IRAs, and various loan types), business banking products (business checking, savings, credit cards, commercial loans, SBA programs, and merchant services), and digital banking channels (online banking, mobile banking app, and SMS text banking). The bank positions itself at the intersection of community banking and digital-first services, with plans to expand from regional community banking into nationwide digital Banking-as-a-Service operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking and Savings Accounts A suite of personal deposit accounts for consumers, including Penny-wise Checking (no service charge, no minimum balance, first box of checks free), Freedom 50 ($50 opening deposit, free checks), Money Market (tiered interest, $500 minimum daily balance), and Money-wise Savings ($100 minimum daily balance). Intended for individuals and families in northern Minnesota seeking everyday banking with both free and interest-bearing options.
• Personal Credit Cards Visa credit cards for consumers with options such as rewards and credit-building features, including contactless payment, text alerts, mobile wallet capability, fraud monitoring, and travel/dining/entertainment benefits. Requires $500 minimum opening balance.
• Personal Certificates of Deposit (CDs) Term-based interest-bearing deposits for consumers with a $500 minimum opening balance; interest rates vary by term, statements provided at maturity, and early withdrawal penalties apply.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including IRA Premier Savings with tiered rates and IRA Certificate ($500 minimum opening deposit) terms based on Personal CD options, with quarterly statements and penalties for early withdrawal.
• Personal Loans Comprehensive consumer lending products including vehicle loans (new/used cars, trucks, SUVs), consumer loans (RVs, motorcycles, boats, snowmobiles, personal expenses), mortgage loans, home equity loans/lines of credit, construction loans, and personal credit lines.
• Business Checking and Savings Accounts Business deposit accounts including Business Checking ($200 minimum, $2.50 monthly fee waived with minimum balance), Small Business Interest Checking ($1,000 minimum, interest-bearing, $10 monthly fee waived), Business Money Market (tiered rates, $500 minimum, $7.50 monthly fee), and Business Savings ($100 minimum, $6 quarterly fee waived with balance). Designed for small and medium-sized businesses.
• Business Credit Cards Business credit cards issued through Elan Financial Services with low rate, cash back, or flexible rewards options. Include free online expense reporting, no fee for additional employee cards, mobile payments, and zero fraud liability.
• Business Loans Comprehensive business lending portfolio including Small Business Loans, U.S. Small Business Administration (SBA) Loans, Lines of Credit, traditional and non-traditional Commercial Lending, Commercial Real Estate financing, and Equipment Financing for small and medium businesses.
• Merchant Services Payment processing services for businesses including credit and debit card processing, electronic check services, electronic gift cards and pre-paid cards, dynamic currency conversion (DCC), point-of-sale solutions, and reporting tools.
• Online Banking Internet banking platform providing 24/7 account access including balance information, transaction history, fund transfers between accounts, loan payments, and bill pay. Requires Access ID (6-17 case-sensitive characters) and password (8-17 characters with uppercase, number, and special character).
• Mobile Banking Mobile application offering account access via smartphone including balance checking, transaction alerts, mobile deposit, Card Controls for debit cards, biometric login (fingerprint/facial recognition), and SMS text banking. Powered by Fiserv technology and available 24/7.
• SMS Text Banking Text message-based banking alerts and notifications through short code 99588, providing transaction alerts, balance notifications, and stop/cancel commands via SMS with opt-in/opt-out support.
• Banking-as-a-Service (BaaS) Platform Digital banking infrastructure offered to fintech companies and digital banking partners that need compliant, FDIC-insured banking rails to power digital banking products. The $71.8 million-asset bank is scaling BaaS operations to serve partners nationwide, backed by M1 Finance.

Quantifiable outcome

• Community involvement through local charitable organizations, food drives, parades, and customer BBQs annually.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services provides credit card programs for B2 Bank including personal and business credit cards with options such as low rate, cash back, and flexible rewards. Elan provides zero fraud liability for unauthorized transactions and cardholder services available 24/7.
• Fiserv, Inc.coreTechnology or IntegrationFiserv, Inc. provides the mobile banking infrastructure and software for B2 Bank's mobile banking services. B2 Bank and its affiliates, including Fiserv, may receive and use user information for service delivery and analytics purposes.
• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerB2 Bank offers a full line of SBA programs for small business lending, including SBA-guaranteed loans as part of their business lending portfolio.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lead Bank: Kansas City-based community bank that has built a national Banking-as-a-Service franchise, partnering with fintechs and crypto firms. Highly comparable to B2 Bank's planned pivot from community banking to national BaaS.
• Unit: Banking-as-a-service infrastructure company partnering with sponsor banks to offer embedded banking products. Comparable to B2 Bank's BaaS ambitions on the fintech-platform side of the same market.
• Sutton Bank: Ohio-based small bank historically used as a sponsor bank for fintech prepaid and deposit programs. Comparable as a smaller-charter institution scaling BaaS partnerships nationally.
• Piermont Bank: New York community bank that has built a technology-forward digital and BaaS-driven lending and deposit business. Directly comparable in size and charter type to B2 Bank's BaaS pivot.
• Treasury Prime: BaaS platform connecting banks with fintechs via an API layer for embedded deposit, payment, and lending products. Competes with the BaaS franchise B2 Bank is trying to build with M1 Finance's backing.
• Column Bank: Bank chartered specifically to provide banking-as-a-service infrastructure to fintechs and digital platforms. Directly comparable to B2 Bank's stated BaaS strategy serving fintech partners nationwide.
• First Internet Bank of Indiana: Pioneering online-first community bank with a national digital footprint and B2B treasury/cash management focus. Comparable to B2 Bank as a community-bank charter expanding into digital banking nationally.
• Coastal Community Bank: Washington-based community bank that has run a BaaS division hosting fintech deposit and card programs. Comparable to B2 Bank as a regional bank pivoting into BaaS partnerships.
• Stride Bank: Oklahoma-based community bank known for sponsoring fintech and crypto programs through a BaaS model. Comparable to B2 Bank as a small chartered bank pursuing fintech partner programs nationwide.

Broad incumbents

• Climate First Bank: Florida-based community bank from which B2 Bank recruited its entire new C-suite in 2026. Closely comparable in charter type, digital orientation, and operating philosophy, making it a meaningful strategic and hiring reference point for B2 Bank.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/B2BankBuhl
• LinkedInlinkedin.com/company/b2-bank

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 B2 Bank