Ackley State Bank

What Ackley State Bank does

GNB Bank operates as a privately held, state-chartered regional community bank serving Iowa communities from two branch locations in Grundy Center and Manchester. Its product portfolio spans personal banking (multiple checking variants such as GNB Rewards Checking with up to 5.00% cash back on debit, Choice Checking, Interest Checking, Community Checking; savings accounts including Basic, GNB Saver, Christmas Club, GNBee Kids Club, Money Market, CDs/IRAs/HSAs), business banking (Business Reward Accounts yielding up to 5.00% APY on Business Cash Checking and 2.27% APY on Business Saver up to $50,000 balances, plus standard Business Checking and Business Select Checking), and a full lending suite covering personal loans, home loans, business loans, and specialized agricultural loans.

The bank's technology stack is largely assembled from third-party providers rather than built in-house. Consumer digital banking and the business eCorp portal are delivered through Secure Internet Banking Solutions (routing 073905064). Credit card processing and online statement access are operated via First Data (Fiserv). The proprietary-feeling AgWizard is presented as a specialized agricultural loan management platform built for farmers and ag operations, and the bank has launched self-serve extensions including digital wallet support (Apple Pay, Google Pay), online bill pay, and e-statements.

GNB Bank earns revenue primarily through interest income on its loan portfolio (with agricultural loans as a stated focus area via AgWizard), supplemented by deposit account fees across checking, savings, money market, CDs, IRAs, and HSAs, interchange and processing fees from credit card services, and fee-based trust and wealth management. Distribution is a hybrid community-bank model: relationship-driven local branches supported by community sponsorships and customer appreciation events, paired with a multi-channel digital offering (website, online banking, mobile banking, eCorp, digital wallet, trust portal) and digital marketing support from partner Forbin Financial.

Name

Ackley State Bank

Legal name

GNB Bank

Website

https://ackleystatebank.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

GNB Bank is a privately held Iowa community bank operating two branches in Grundy Center and Manchester, offering personal, business, and agricultural lending products with supporting digital banking, trust, and insurance services for local consumers, SMBs, and farm operations.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community banking services
• Agricultural lending
• Consumer deposit accounts
• Commercial loan products
• Residential mortgage lending

Headquarters

HQ city

Grundy Center

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue from interest earned on agricultural loans, business loans, personal loans, and mortgages. Agricultural services are a key focus area with dedicated AgWizard platform.
2. Deposit Account Fees: Fees from checking accounts, savings accounts, money market accounts, and CDs/IRAs/HSAs including monthly maintenance fees and transaction charges
3. Credit Card Services: Revenue from credit card processing and interchange fees
4. Trust and Wealth Management: Trust services including estate planning guidance

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

A privately-held Iowa community bank providing a full suite of depository accounts (checking, savings, money market, CDs/IRAs/HSAs), consumer and commercial lending (personal, mortgage, business, and agricultural loans), credit and debit cards, trust and investment advisory, and partner-distributed insurance, supported by online, mobile, and eCorp digital banking channels and the AgWizard agricultural loan platform.

Product overview

GNB Bank is a regional community bank offering a comprehensive suite of traditional banking products organized across personal banking, business banking, lending, and digital services. The core product portfolio includes multiple checking account variants (GNB Rewards Checking with cash back rewards, Choice Checking, Interest Checking, Community Checking), savings accounts (Basic, GNB Saver, Christmas Club Savings, GNBee Kids Club, Money Market, CDs/IRAs/HSAs), and business accounts (Business Reward Accounts with competitive APY rates, Business Checking, Business Select Checking). Lending offerings span personal loans, home loans, business loans, and specialized agricultural loans with an online management tool called AgWizard. Digital services include Online Banking, Mobile Banking, Online Bill Pay, Digital Wallet support, and E-Statements. Additional offerings comprise Trust Services, Insurance, Investment Services, Real Estate Services, a Go Club Travel Program, and a suite of financial planning calculators. The bank operates a multi-platform digital banking infrastructure with Business Online eCorp for commercial customers.

Differentiator

Problem solved

Functional benefit

Brands

• GNB Rewards Checking: Checking account with cash back rewards on debit card purchases
• GNB Saver
• GNBee Kids Club
• Go Club Travel Program
• AgWizard

Products and services

• GNB Rewards Checking Personal checking account earning up to 5.00% cash back on qualifying debit card purchases for individual consumers seeking rewards on everyday spending.
• Choice Checking Low-cost personal checking account with no balance requirements for customers who prefer simple banking without service fees.
• Interest Checking Personal checking account that pays interest while delivering unlimited checking benefits for individual consumers.
• Community Checking Personal checking account tailored for community members as part of the bank's community-banking offering.
• Basic Savings Traditional savings account designed for individuals looking to grow funds with a basic, straightforward structure.
• GNB Saver Savings account product designed to help personal customers save effectively within the bank's savings portfolio.
• Christmas Club Savings Seasonal-purpose savings account that helps customers save incrementally for holiday expenses throughout the year.
• GNBee Kids Club Savings account program for children that encourages early savings habits with kid-friendly features.
• Money Market Money market savings account offering competitive interest rates for personal customers with higher balances.
• CDs, IRAs & HSAs Certificates of Deposit (CDs) combined with Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs) for retirement and medical savings.
• Business Reward Accounts Business deposit suite including Business Cash Checking (up to 5.00% APY on balances up to $50,000) and Business Saver (2.27% APY on balances up to $50,000) for small and medium businesses seeking competitive yields on operating cash.
• Business Checking Standard business checking account for managing day-to-day operations and cash flow for small and medium-sized businesses.
• Business Select Checking Feature-tier business checking account offering select features for businesses with specific banking requirements.
• Personal Loans Personal installment loans for debt consolidation, major purchases, and unexpected expenses for individual borrowers.
• Home Loans Mortgage and home financing products for purchasing or refinancing residential real estate.
• Business Loans Commercial lending products including term loans, lines of credit, and other financing solutions for small and medium-sized businesses.
• Agricultural Loans Specialized financing for farmers and agricultural operations including farm equipment, land purchase, and farm operating lines, underwritten by dedicated agricultural lenders.
• AgWizard Online agricultural loan management and tracking platform enabling farmers to manage their farm loans digitally, delivered as a core technology platform of GNB Bank's Agricultural Services division.
• Debit Cards Bank-issued debit cards providing direct access to checking account funds for everyday purchases.
• Credit Cards Personal credit card products with various rewards, rates, and benefits for consumer spending.
• Trust Services Estate planning guidance and trust management services supporting wealth preservation and transfer for individuals and families.
• Insurance Services Insurance products and solutions offered through GNB Bank's insurance partnerships for consumer and business protection needs.
• Investment Services Investment products and financial planning services for wealth accumulation and retirement, delivered through partner relationships.
• Real Estate Services Real estate financing and property search assistance for consumers and businesses coordinating through GNB Bank's real estate services.
• Go Club Travel Program Travel rewards and benefits program offering travel-related discounts and services to eligible GNB Bank personal banking customers.
• Business Online eCorp Online banking portal enabling commercial customers to manage accounts, transactions, and cash flow digitally through secure business banking tools.

Quantifiable outcome

• Business Cash Checking earns up to 5.00% APY on balances up to $50,000
• +2 more outcomes

Named customers2 records

Segments3 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

Four partnerships are on record, tiered core and minor.

• AgWizardcoreTechnology or IntegrationAgricultural loan management platform partnership providing specialized tools for farmers and agricultural operations to manage their financing needs. GNB Bank integrates this platform as part of its agricultural services offering.
• First Data (Fiserv)coreTechnology or IntegrationCredit card processing and statement services provider. GNB Bank uses First Data for online credit card statement access and processing infrastructure.
• Secure Internet Banking SolutionscoreTechnology or IntegrationProvides the secure internet banking platform infrastructure including E-Corp login for business banking customers. Routing number associated with this platform: 073905064.
• Go Club Travel Program PartnersminorGTM or Marketing PartnerTravel program partnerships offering discounts and benefits to GNB Bank customers through the Go Club travel program.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Wells Fargo: National bank with Iowa retail presence and a wide product portfolio that overlaps GNB's personal banking, lending, and digital services, competing for the same customers with greater scale and resources.
• U.S. Bancorp: Large national bank with significant Iowa branch presence and ag lending capabilities, competing for the same consumer, business, and agricultural customers as GNB Bank but at much greater scale.

Direct peers

• Great Western Bank: Regional bank with strong Iowa and Midwest ag lending presence and community-banking branches, directly comparable in ag loan franchise and small-business banking offering.
• Hills Bank and Trust Company: Iowa-headquartered community bank offering personal, business, and ag lending across eastern Iowa with a comparable multi-product community-banking model and similar deposit-and-loan franchise composition.
• MidWestOne Bank: Iowa-based community bank delivering personal, business, and ag lending with a similar product breadth and community-oriented footprint across small-town Iowa markets.
• Two Rivers Bank & Trust: Iowa community bank with comparable deposit products, business banking, and ag lending services serving similar small-town Iowa customers.
• Heartland Bank (Iowa): Iowa-based community bank offering personal and business deposit products, ag lending, and digital banking tools targeting similar small-town and rural customer segments.
• Farm Credit Services of America: Farmer-owned agricultural lending cooperative serving Iowa and neighboring states, the most direct competitor to GNB's agricultural lending franchise given overlapping ag customer base and farm-focused product set.
• Central State Bank (Iowa): Iowa community bank operating in rural markets with comparable deposit and loan product set, including ag and small-business lending.
• West Bank (West Des Moines, Iowa): Iowa community bank offering personal, business, and ag banking services with a similar multi-product community-bank model across Iowa markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ackley-state-bank

Revenue estimate

Valuation estimate

Number of profiles

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 Ackley State Bank