United Bank of Iowa

What United Bank of Iowa does

United Bank of Iowa (UBI) is a privately held, FDIC-insured community bank founded in 1932 and headquartered at 501 2nd St., Ida Grove, Iowa, with 61 employees. The bank operates a multi-segment model serving individual consumers, small and medium businesses, and agricultural operations across Iowa. Personal banking includes Preferred, Smart Choice, and Classic Checking accounts; savings products (United Savings, United Select, United Investment, HSAs, CDs); mortgages including conventional, USDA Rural Development 100% financing, HELOC, and HomeStart down-payment assistance; consumer loans; and retirement and trust services. Business banking encompasses business checking, loans and leases, retirement plans, and a Farm Management service for ag customers. Agricultural banking — the bank's stated vertical specialization as 'Iowa's #1 Ag Bank' — includes Ag Checking, Ag Lending, and farm financial planning.

The technology layer is a standard community-bank digital platform: online banking, a mobile banking app, digital wallet support, eStatements with 18-month history, and free Bill Pay. Distribution is anchored by the Ida Grove headquarters and a new Odebolt branch under construction, supplemented by telephone banking and self-service digital channels. Strategic integrations include BaZing (retail benefits bundle inside Smart Choice Checking), Shazam Brella (debit-card fraud alerts and ATM locator), Mastercard (debit issuance with Zero Liability and Global Service), and FHLB membership for the HomeStart grant program.

Revenue derives from interest income on mortgage, home equity, consumer, agricultural, and commercial loans; deposit account fees (monthly maintenance, overdraft, transaction) with waivers tied to balance or relationship thresholds; and transaction-fee income from mortgage origination including USDA Rural Development and HomeStart-assisted loans. Marketing channels blend community-facing channels (Facebook, Instagram, Community Cause Day, 'Capturing Rural Iowa' calendar contest) with website content and an email newsletter. Certifications and compliance positioning rest on FDIC insurance, Equal Housing Lender status, and FHLB membership.

Name

United Bank of Iowa

Legal name

United Bank of Iowa

Website

https://unitedbk.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

United Bank of Iowa is a privately held, FDIC-insured community bank founded in 1932, headquartered in Ida Grove, Iowa, serving individual, small business, and agricultural customers across Iowa with checking, savings, mortgage, ag lending, and digital banking services.

Ownership category

akta.pro rank

Headquarters

HQ city

Ida Grove

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 Lending: Core banking revenue from interest on mortgage loans, home equity loans, agricultural loans, business loans, and consumer loans
2. Deposit Account Fees: Monthly maintenance fees on checking and savings accounts (waived based on balance or relationship thresholds), overdraft fees, and transaction fees
3. Mortgage Origination: Originates and services mortgage loans including conventional, USDA Rural Development, HomeStart down payment assistance

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

United Bank of Iowa is a community bank that accepts deposits (checking, savings, CDs, HSAs) and originates loans (mortgage, home equity, consumer, commercial, and agricultural) for individual consumers, small/medium businesses, and farming operations across Iowa. The bank differentiates through dedicated agricultural banking, in-house mortgage processing and servicing, and a digital banking platform spanning online, mobile, digital wallet, eStatements, and bill pay.

Product overview

United Bank of Iowa is a community bank offering a unified banking platform for personal, business, and agricultural customers. The core products include checking accounts (Preferred, Smart Choice, Classic), savings accounts (United Savings, United Select, United Investment, HSAs, CDs), and loan products (mortgages, home equity, consumer, and agricultural loans). Digital banking services including Online Banking, Mobile Banking, and eStatements form the technology layer. The bank differentiates as Iowa's #1 Ag Bank, offering specialized Ag Checking and Ag Lending products. Specialty products include UBI Kids Savings Club, First-Time Homebuyers Savings Account, and Smart Choice Checking powered by BaZing for discounts and protection benefits.

Differentiator

Problem solved

Functional benefit

Brands

• Shazam Brella: A fraud protection service offered in partnership with Shazam, providing fraud alerts, balance monitoring, and ATM locator services.
• BaZing
• UBI Kids Savings Club
• Emerald Club

Products and services

• Online Banking Web-based digital banking platform enabling customers to access accounts, transfer funds, pay bills, view eStatements, and manage finances from desktop browsers. Available to personal and business customers.
• Mobile Banking Smartphone banking application enabling customers to access accounts, make mobile deposits, and manage finances on the go.
• Digital Wallet Mobile payment capability allowing customers to pay with their mobile device at participating merchants.
• eStatements Electronic statement delivery system providing free, secure access to monthly statements with 18-month online history.
• Preferred Checking Interest-bearing checking account with tiered interest on balances of $2,500 or more, bundled with online banking, mobile banking, mobile deposit, bill pay, and debit card. $7 monthly maintenance fee waived with $1,000 minimum balance or $3,000 average balance.
• Smart Choice Checking Checking account powered by BaZing offering cell phone protection up to $800 per claim, ID theft aid with $2,500 benefit, roadside assistance up to $80, pharmacy/vision/hearing savings, travel accidental death coverage up to $10,000, and local/national discounts. $7.50 monthly maintenance fee.
• Classic Checking Basic low-cost personal checking account. $9 monthly maintenance fee waived with $350 minimum balance or 12 debit card purchases; fee also waived for age 62+, age 21 and below, and Emerald Club members.
• Ag Checking Checking account designed specifically for agricultural customers and farm operations in Iowa.
• United Savings Basic personal savings account earning interest on a $200 minimum balance, $50 to open, no monthly service charge.
• United Select Savings Savings account with tiered interest on a $1,000 minimum balance, limited check writing, $7 monthly fee waived with $750 minimum or $3,000 average daily balance.
• United Investment Savings High-yield personal savings account with tiered interest on a $10,000 minimum balance, available for personal accounts only.
• Certificates of Deposit (CDs) Time deposits with $500 minimum to open, tiered interest rates, flexible terms from 90 days to 5 years, with a 10-day grace period and early withdrawal penalties.
• Health Savings Accounts (HSAs) Tax-exempt savings plan for health care expenses with $50 minimum to open, no set-up fees, no income limits, check writing privileges, and optional investment account with higher tiered rates.
• UBI Kids Savings Club Savings account for children age 12 and under featuring a $25 match bonus from UBI, higher interest rate on balances up to $1,000, $25 to open, no monthly service charge, and a birthday card with a $2 bill.
• First-Time Homebuyers Savings Account Savings account for first-time Iowa homebuyers offering higher interest rates, state tax deduction up to $2,000 for individuals or $4,000 for married couples; funds must be used within 10 years for an Iowa home purchase.
• Purchase and Refinance Mortgage Loans Mortgage products including conventional mortgages, USDA Rural Development Loans with 100% financing (no down payment required), competitive fixed or variable rates, and HomeStart Down Payment Assistance through FHLB membership. Processed and serviced in-house.
• Home Equity Loan One-time closed-end line of credit using home equity for purchases or home improvements, with competitive variable rates.
• Home Equity Line of Credit (HELOC) Revolving home equity line of credit with home as collateral, allowing advances as needed for larger expenses such as home remodels, education, vacations, or medical bills.
• Consumer Loans Personal loans for various needs including vehicles, debt consolidation, and other major purchases.
• Ag Lending Agricultural loans and leases tailored for farming operations, including crop financing, livestock financing, equipment financing, and farm real estate lending, supported by a dedicated ag lending team.
• Farm Management Specialized farm financial planning and management services for agricultural businesses, including financial oversight and consulting for farm operations.
• Business Loans and Leases Commercial lending and lease products for small to medium businesses across Iowa, supporting business growth, equipment acquisition, and operating capital needs.
• Retirement Services Individual retirement accounts (IRAs) and retirement planning services for personal and business customers.
• Trust Services Estate planning and trust management services for personal customers.
• Online Bill Pay Electronic bill payment service available through Online and Mobile Banking, allowing free scheduling of payments to businesses or individuals with 18-month payment history.

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• BaZingcoreTechnology or IntegrationPowered by BaZing platform integrated into Smart Choice Checking account, providing local discounts, cell phone protection up to $800, ID theft aid, roadside assistance up to $80, and pharmacy/vision/hearing savings. Core customer benefit partner.
• Shazam BrellacoreTechnology or IntegrationFraud protection service provider offering fraud alerts, balance monitoring, and ATM locator for debit card holders. Provides security features for customers.
• MastercardcoreTechnology or IntegrationDebit Mastercard issuer providing card acceptance at millions of locations worldwide, Zero Liability protection, travel services, Global Service support, and ID theft protection at no extra cost.
• Federal Home Loan Bank (FHLB) HomeStart ProgramcoreStrategic or Co-development PartnerUBI is a member of the FHLB HomeStart program which provides down payment assistance grants to qualified homebuyers. Key partnership for supporting first-time homebuyers.
• USDA Rural DevelopmentminorStrategic or Co-development PartnerOffers 100% financing USDA Rural Development Loans for home purchases with no down payment required, subject to underwriting standards.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Farm Credit Services of America: Farm Credit System cooperative lender providing agricultural loans and leasing across Iowa and surrounding states; competes for the same ag lending customers UBI serves with dedicated ag lending.
• Heartland Financial USA (HTLF): Dubuque, Iowa-based bank holding company operating community banks across multiple Midwest states with personal, business, and ag banking; a larger regional incumbent operating in overlapping Iowa markets.
• Compeer Financial: Farm Credit cooperative serving farmers and agribusiness across the Upper Midwest, including Iowa; comparable as a larger-scale agricultural lender overlapping UBI's core ag banking segment.

Direct peers

• Bank Iowa: Iowa community bank providing personal, business, and agricultural lending products across rural and small-town markets; directly overlaps UBI's geographic and product focus.
• Liberty National Bank: Sioux City, Iowa community bank with retail and commercial banking including ag lending; comparable as an Iowa-domiciled community bank serving similar small-business and farm customers.
• West Bank: Iowa-headquartered community bank offering commercial, retail, and ag lending across the state; comparable in customer mix and product set to UBI's Iowa footprint.
• Iowa State Bank: Independent Iowa community bank offering deposit, mortgage, and commercial lending products to small-town and agricultural customers; comparable to UBI's regional Iowa community-bank profile.
• Hills Bank and Trust Company: Iowa-based community bank offering personal, business, and ag banking with similar branch-based and digital model; directly comparable as a mid-sized Iowa community bank serving similar rural/small-town customers.
• American State Bank: Iowa community bank providing deposit, mortgage, and commercial/agricultural lending products; comparable to UBI's rural Iowa customer base and product mix.

Regional players

• First Interstate BancSystem: Multi-state community-bank holding company serving Western/Midwestern markets with personal, business, and ag banking products; relevant as a regional peer in similar rural community-banking model though outside UBI's Iowa core.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/UnitedBankofIowa
• Instagraminstagram.com/unitedbankofiowa
• LinkedInlinkedin.com/company/united-bank-of-iowa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 United Bank of Iowa