Gothenburg State Bank

What Gothenburg State Bank does

Gothenburg State Bank, doing business as Flatwater Bank, is a privately held, FDIC-insured community bank headquartered in Gothenburg, Nebraska, founded in 1902. The bank operates a single-branch, relationship-based franchise targeting individuals, small businesses, and agricultural operators in Nebraska. Its product suite spans personal and business deposit products (checking, savings, health savings, youth savings, certificates of deposit, IRAs), lending products (personal loans, mortgages, business loans, agricultural operating and equipment loans), safe deposit boxes, and an Investment Service Center offering BrokerCheck-verified investment products. Distribution combines a physical branch with self-service online and mobile banking powered by the Banno digital banking platform, and the bank integrates Deluxe for check reordering and FINRA BrokerCheck for investment-advisor verification.

Revenue mechanics follow a standard community-bank model: net interest income from the loan and securities portfolios funded by deposits, supplemented by fee income from merchant services, cash management, safe deposit boxes, and investment services. Pricing is not publicly disclosed on the bank's website, consistent with relationship-based pricing typical of small community banks. Go-to-market is geographically narrow, anchored in Gothenburg, Nebraska, with cross-selling across personal, business, and agricultural customer segments.

The bank has no disclosed external investors, no parent company, and no M&A or leadership-change activity in the input data. The most notable recent action is a 2024 rebrand from Gothenburg State Bank to Flatwater Bank combined with a migration to the .bank top-level domain, a defensive cybersecurity and brand-trust initiative rather than an offensive expansion. No AI capabilities, patents, funding rounds, or formal partnerships are disclosed.

Name

Gothenburg State Bank

Legal name

Flatwater Bank

Website

https://gothenburgstatebank.com

Company type

Private

Founded year

1902

Operating status

Operating

Headcount range

11–50 employees

Short description

Flatwater Bank (formerly Gothenburg State Bank) is a privately held, FDIC-insured community bank in Gothenburg, Nebraska, offering personal, business, agricultural, and mortgage banking services to individuals, small businesses, and farmers in the surrounding region via a single branch and Banno-powered digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking services
• Agricultural lending
• Personal banking
• Business banking
• Mortgage lending

Headquarters

HQ city

Gothenburg

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Distribution channels4 records

Marketing channels4 records

Core offering

Gothenburg State Bank (dba Flatwater Bank) is an FDIC-insured community bank offering personal deposit accounts (checking, savings, youth savings, HSAs, CDs, IRAs), debit cards, safe deposit boxes, and lending products including personal, agricultural, mortgage, and business loans, alongside business banking services, business retirement plans, and investment services. Distribution is through its physical branch in Gothenburg, Nebraska, plus online and mobile banking channels powered by Banno.

Product overview

Flatwater Bank (formerly Gothenburg State Bank) operates as a regional community bank offering a unified suite of banking products across personal, business, agricultural, and investment segments. The portfolio includes core deposit products (checking, savings, CDs, IRAs), lending solutions (personal, agricultural, mortgage, and business loans), specialized accounts (youth savings, health savings accounts), and digital banking services. The bank's digital banking platform, powered by Banno, provides online and mobile access across all account types. Business customers additionally access retirement planning and business services, while investment services are offered through a BrokerCheck-verified channel.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Personal and business checking accounts providing everyday banking access with online and mobile services.
• Savings Accounts Personal and business savings accounts for depositing and growing funds with competitive interest rates.
• Debit Cards Personal debit cards for ATM access and point-of-sale purchases with fraud protection.
• Youth Savings Specialized savings accounts designed for young savers to encourage financial literacy and savings habits.
• Health Savings Accounts (HSAs) Tax-advantaged accounts for personal and business customers to cover medical expenses with high-deductible health plans.
• Personal Loans Loan products for personal financial needs including auto loans, home improvement, and debt consolidation.
• Agricultural Loans Specialized financing solutions for farmers and agricultural operations including operating loans, equipment financing, and land purchases.
• Mortgages Home loan products including purchase mortgages, refinancing options, and construction loans.
• Certificates of Deposit (CDs) Time deposit accounts with fixed terms and guaranteed returns for short to medium-term savings goals.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including traditional and Roth IRA options.
• Safe Deposit Boxes Secure storage for valuables and important documents available at branch locations.
• Business Loans Comprehensive lending solutions for business expansion, equipment, working capital, and commercial real estate.
• Business Retirement Plans Employer-sponsored retirement plans including SEP IRAs and 401(k) options for business owners and employees.
• Business Services Merchant services, cash management, and other operational banking services for business customers.
• Online and Mobile Banking Digital banking platform enabling account access, transfers, bill pay, and mobile deposit via web and mobile applications.
• Investment Services BrokerCheck-verified investment products and advisory services through the Investment Service Center.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Recent moves4 records

Expansion highlights2 records

Direct peers

• Five Points Bank: Nebraska community bank with comparable personal and business deposit and lending products. Closely comparable scale and regional footprint to Gothenburg State Bank/Flatwater Bank.
• Pinnacle Bank: Nebraska-headquartered community/regional bank offering personal, business, and agricultural banking across multiple communities. Directly comparable as a Nebraska community bank with similar personal/business/ag product mix.
• Adams Bank & Trust: Nebraska community bank with strong agricultural lending focus serving rural communities. Comparable in ag-loan specialization and small-town Nebraska banking model.
• Valley Bank & Trust: Community bank serving Nebraska and surrounding regions with personal/business/ag lending and deposit products. Comparable in regional community banking model.
• Heartland Tri-State Bank: Community bank serving rural/agricultural markets in the central US. Comparable in ag lending focus and small-town community banking model.
• Cornerstone Bank: Nebraska-based community bank offering personal, business, and agricultural products. Comparable as a privately-held Nebraska community bank with similar product breadth.
• First State Bank Nebraska: Nebraska-based community bank with personal and business banking focus. Comparable as a small Nebraska community bank serving similar customer segments.

Broad incumbents

• First National Bank of Omaha: Large Nebraska-headquartered bank with full personal, business, ag, and wealth services. Broader incumbent operating in the same regional market with significant scale advantage.
• Great Western Bank: Multi-state regional bank (headquartered in Omaha) with personal, business, ag, and mortgage banking. Larger incumbent operating in the same Nebraska market with overlapping products.

Others

• Banno: Digital banking platform provider (Jack Henry) powering Flatwater Bank's online and mobile banking. Adjacent ecosystem participant — the bank's digital stack partner rather than a competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

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

Compliance3 records

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 Gothenburg State Bank