Clear Lake Bank & Trust Company

What Clear Lake Bank & Trust Company does

Clear Lake Bank & Trust Company (CLB&T) is a privately held, FDIC-insured community bank headquartered in Clear Lake, Iowa, founded in 1934. The bank operates four branches across north central Iowa — Clear Lake (headquarters), Mason City West, Mason City Downtown, and Garner — serving individuals, small businesses, and agricultural producers with personal checking and savings accounts, CDs, IRAs, HSAs, debit and credit cards, mortgages, personal loans, and safe deposit boxes. Business banking products include business checking, business loans, SBA loans, agriculture loans (including beginning farmer programs), and treasury management, supplemented by trust and investment services through Lamont Financial Group and insurance products through the wholly-owned CLB&T Insurance Agency. Lifecycle product clubs (Jr. Sailors, Navigators, Clear Sailing 55+) target children, teens, and seniors respectively.

Underlying technology consists of a core digital banking platform supporting iOS and Android mobile apps (with mobile deposit, bill pay, person-to-person payments, and digital wallet), an online banking portal at clearlakebank.bank, and telephone banking. Trust account access is delivered through the accessasc.com platform. The credit card product is delivered in partnership with Community Credit Card (mycommunitycc.com). No proprietary AI/ML systems, APIs, or developer SDKs are disclosed.

The business model is that of a traditional community bank: net interest income from lending (mortgages, personal, business, agriculture loans) is the primary revenue stream, augmented by transaction and service fees on deposits, fee income from managed trust and wealth services, and insurance agency commissions. Pricing is relationship-driven and not publicly disclosed; rates and fees are set per customer following inquiry. Customer acquisition is community-led, relying on in-person branch presence, local sponsorships (United Way, FFA, school spirit debit cards, student financial education), and organic social channels (Facebook, Instagram, LinkedIn, X). There is no public ticker, no identified parent company, no external venture funding, and no disclosed cap table; ownership appears to rest with local shareholders typical of independent community banks.

Name

Clear Lake Bank & Trust Company

Legal name

Clear Lake Bank and Trust Company

Website

https://clearlakebank.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Clear Lake Bank & Trust Company is a privately held, FDIC-insured community bank founded in 1934, operating four branches in north central Iowa. It serves individuals, small businesses, and agricultural producers with deposits, lending, trust, insurance, and digital banking services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Trusts, Estates, and Agency Accounts (52592)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industries

Onshore Private Banking (Domestic HNW/UHNW) (FSAAABAA), Transfer Agency & Shareholder Recordkeeping (Custody-Linked) (FSAFAHAJ)

Keywords

• Community banking
• Agricultural lending
• Small business loans
• Consumer deposit accounts
• Trust and wealth services

Headquarters

HQ city

Clear Lake

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Core revenue from mortgage loans, personal loans, business loans, and agriculture loans with competitive rates and flexible terms
2. Deposit Account Services: Fees and services from checking accounts, savings accounts, CDs, and Health Savings Accounts
3. Trust and Wealth Services: Estate planning, investment services, and trust management for personal and business customers
4. Insurance Agency Services: CLB&T Insurance Agency providing personalized coverage for home, business, auto through partnerships
5. Credit Card Services: Credit card products through partnership with Community Credit Card services

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Clear Lake Bank & Trust Company is a community bank offering personal and business deposit accounts, mortgage and consumer loans, small business and agricultural lending, SBA loans, treasury management, and trust and investment services to individuals, small businesses, and agricultural producers across north central Iowa. The bank delivers its services through four branch locations supplemented by online and mobile banking platforms, and extends into insurance through its CLB&T Insurance Agency subsidiary.

Product overview

Clear Lake Bank & Trust Company offers a comprehensive banking platform with personal and business banking products organized into core deposits (checking, savings, CDs), lending (mortgages, personal loans, business loans, agriculture loans), and digital banking channels. Personal banking includes specialized clubs for children (Jr. Sailors Club), teens (Navigators Club), and seniors 55+ (Clear Sailing Club). Business banking covers commercial lending, treasury management, and SBA programs. The company provides digital banking through online and mobile platforms with features including mobile deposit, bill pay, digital wallet, and person-to-person payments. Trust and investment services are available through the company and its affiliates (Lamont Financial Group). Insurance products are offered through CLB&T Insurance Agency. The bank serves Clear Lake, Mason City, and Garner, Iowa locations.

Differentiator

Problem solved

Functional benefit

Brands

• CLB&T Insurance Agency: Insurance products and services including home, business, auto coverage. Operates at https://www.clbtins.com/
• Lamont Financial Group
• Credit Score 360
• Jr. Sailors Club
• Navigators Club
• Clear Sailing Club

Products and services

• Personal Checking Accounts Personal checking accounts providing easy access to funds with various features for everyday banking needs, offered to individual consumers.
• Savings Accounts Savings accounts offering a safe place to grow money with competitive interest rates for individual consumers.
• Certificates of Deposit (CDs) Time deposits with guaranteed returns and competitive interest rates for low-risk savings growth, offered to individual consumers.
• Health Savings Account (HSA) Tax-advantaged savings account for healthcare expenses with triple-tax benefits, offered to individual consumers.
• Individual Retirement Account (IRA) Retirement savings accounts with tax-advantaged growth options for retirement planning, offered to individual consumers.
• Mortgage Loans Home loans with flexible options and competitive rates for home purchase, construction, or refinancing, offered to individual consumers.
• Personal Loans Flexible consumer loans for auto financing, students, and other personal financing needs, offered to individual consumers.
• Credit Cards Credit cards offering convenient spending, credit building, and exclusive perks with security monitoring, offered through partnership with Community Credit Card.
• Business Checking Accounts Business checking accounts with features for managing business finances and cash flow, offered to local small businesses.
• Business Loans Small business loans with flexible terms and personalized support for business growth, offered to local small businesses.
• Agriculture Loans Flexible agricultural loans supporting farm operations and beginning farmer programs, offered to agricultural producers and farmers.
• SBA Loans Small Business Administration loans providing government-backed financing options, offered to local small businesses.
• Treasury Management Services for managing business cash flow, liquidity, and financial operations, offered to local small businesses.
• Trust and Investment Services Wealth management, trust services, investment portfolio management, and estate planning services for personal and business customers.
• CLB&T Insurance Agency Insurance products and services including home, business, and auto coverage offered through the wholly owned CLB&T Insurance Agency subsidiary.

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• CLB&T Insurance AgencycoreStrategic or Co-development PartnerFull-service insurance agency offering personalized coverage for home, business, auto, and more. Integrated with bank services to provide comprehensive financial protection for customers.
• Lamont Financial GroupcoreStrategic or Co-development PartnerInvestment services partnership providing customers with access to investment products and financial planning services through Lamont Financial Group advisors.
• Community Credit CardcoreChannel Partner/ Reseller/ DistributorCredit card products and services provided through partnership, allowing CLB&T to offer branded credit cards with competitive benefits and security monitoring.
• Trust Services (accessasc.com)coreTechnology or IntegrationTrust and investment services platform providing online access to trust accounts, investment portfolios, and wealth management tools for customers.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Bank Iowa: Iowa-based community bank with a multi-branch footprint across the state, offering personal banking, business loans, and ag lending. Comparable in community bank positioning and Iowa market focus.
• Northwest Bank: Community bank with deep Iowa presence headquartered in Spencer, IA. Similar profile offering personal, business, and agricultural lending with community-focused decision-making.
• GreenState Credit Union: Large Iowa-based credit union offering full personal and business banking, mortgage lending, and wealth services. Competes directly with CLB&T for the same household and small business deposit and lending relationships across Iowa.
• Hills Bank & Trust Company: Iowa-headquartered community bank offering personal, business, and ag lending alongside digital banking. Highly comparable in product breadth and community banking model, though operating in eastern Iowa rather than north central Iowa.
• United Bank of Iowa: Iowa community bank with strong agricultural lending focus across western and central Iowa. Highly comparable to CLB&T in rural community bank positioning and ag portfolio composition.
• TS Bank: Treynor, Iowa-based community bank offering consumer, business, and ag lending with integrated insurance services. Direct peer in community banking model and insurance cross-sell.

Broad incumbents

• U.S. Bank: Major national bank with a strong Midwest footprint including Iowa. Offers overlapping deposit, lending, and wealth services but as part of a broad national portfolio rather than a community focus.
• Bank of America: National bank with consumer banking presence in Iowa metro and rural markets. Sets the competitive floor on digital capabilities and product breadth that CLB&T must match with its smaller scale.
• Wells Fargo: Large national bank with significant Iowa branch and ATM presence. Competes for the same household and SMB deposits and lending, but with broader portfolio and digital scale rather than local focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CLBankAndTrust
• Facebookfacebook.com/clearlakebank
• LinkedInlinkedin.com/company/clear-lake-bank-&-trust
• Instagraminstagram.com/clbankandtrust

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Clear Lake Bank & Trust Company