bell state bank and trust

What bell state bank and trust does

Bell Bank is a privately held, family- and employee-owned community bank headquartered in Fargo, North Dakota, founded in 1966 and previously operating as Bell State Bank and Trust. The bank operates full-service branches across North Dakota, Minnesota (including Minneapolis/St. Paul, Duluth, and Forest Lake), and Arizona (Phoenix metro), with the Snortland farm family — original founders — still holding ownership stakes.

The bank runs a horizontally diversified financial services platform spanning personal banking (checking, savings, CDs, IRAs, credit cards), business banking (commercial loans, treasury management, SBA Preferred Lender products, agriculture lending, public finance), residential mortgage origination, wealth management and retirement plan services, insurance through wholly owned Bell Insurance Services LLC, HSA custodial services through the HealthcareBank division (one of the top 10 U.S. HSA custodians), and lower middle-market cash flow lending through Bell Capital Finance. Technology infrastructure centers on a digital banking platform with mobile (iOS/Android) and online channels, supplemented by integrations with WEX (HSA benefits platform), Ascensus (retirement plan recordkeeping), Clearwater Analytics (institutional investment accounting), and Elan Financial Services (credit card issuance).

Revenue is generated through traditional community bank economics: net interest income from loan and deposit spreads, plus fee-based streams from wealth advisory, insurance commissions, mortgage origination, equipment finance, HSA custodial services, and correspondent banking partnerships with more than 300 independent community banks across 13 states. Distribution combines physical branches, digital channels, and dedicated direct-sales teams for institutional, commercial, correspondent, insurance, and HSA clients. The bank is FDIC insured, GIPS compliant for institutional investment management, and led by President and CEO Michael Solberg.

Name

bell state bank and trust

Legal name

Bell Bank

Website

https://statebanks.com

Company type

Private

Founded year

1966

Operating status

Operating

Short description

Bell Bank is a privately held, family- and employee-owned community bank founded in 1966 and headquartered in Fargo, North Dakota, serving consumer, commercial, mortgage, wealth, insurance, and HSA clients across North Dakota, Minnesota, and Arizona with over $13 billion in assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Retail banking services
• Commercial lending
• Wealth management
• Mortgage lending
• Insurance services

Headquarters

HQ city

Fargo

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans including mortgages, commercial loans, personal loans, and credit products. Interest rate spreads between deposits and lending products.
2. Deposit and Checking Fees: Revenue from personal and business checking accounts, savings accounts, and CDs with various fee structures
3. Wealth Management Fees: Advisory and management fees from wealth management, private wealth, financial planning, trusts and estates, and retirement plan services
4. Insurance Commissions: Commissions from Bell Insurance Services LLC for personal and business insurance products including auto, home, life, health, dental, and business coverage
5. Mortgage Origination: Revenue from mortgage loans and programs through Bell Bank Mortgage division
6. Equipment Finance: Revenue from equipment financing and leasing through Bell Bank Equipment Finance division
7. HSA Custodial Services: HealthcareBank division provides HSA record keeping and custodial services, among top 10 HSA custodians in the U.S.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Bell Bank is a privately held community bank headquartered in Fargo, North Dakota, providing personal banking (checking, savings, CDs, IRAs, credit cards, private banking), business and commercial banking (commercial loans, SBA loans, agriculture loans, equipment finance, capital finance, treasury management, public finance), residential mortgage lending, wealth management and institutional investment management (including retirement plan services), and personal and business insurance through Bell Insurance Services LLC. The bank operates full-service locations across North Dakota, Minnesota, and Arizona, complemented by mobile and online digital banking, and serves other community banks through a correspondent banking program.

Differentiator

Problem solved

Functional benefit

Brands

• HealthcareBank: A division of Bell Bank providing Health Savings Accounts (HSAs) to consumers and businesses
• Bell Insurance
• Bell Bank Mortgage
• Bell Bank Wealth Management
• Bell Bank Equipment Finance
• Bell Capital Finance
• Bell Institutional Investment Management
• Bell Champions

Products and services

• Personal Banking Core deposit and banking services for individuals including checking accounts (America's Best Checking), savings accounts, CDs, IRAs, credit cards (Zero+ Credit Card), private banking, and digital banking through online and mobile platforms.
• Personal Loans Lending products for individuals including personal loans, auto loans, boat/motorhome/camper loans, and motorcycle/snowmobile/jet ski/ATV loans.
• Bell Bank Mortgage Full-service residential mortgage division offering purchase and refinancing solutions with mortgage loan programs, dedicated loan officers, and loan calculators for home buyers.
• Digital Banking Mobile and online banking platform enabling account viewing, bill payment, mobile check deposits, and account management via the Bell Bank Mobile app for iOS and Android and online banking portal.
• Business Banking Banking services for businesses including business checking, savings, CDs, treasury management, debit cards, credit cards, and online banking for business customers.
• Commercial Loans Commercial lending solutions including revolving lines of credit, term loans, equipment financing, owner-occupied real estate loans, letters of credit, buyout and acquisition financing, ESOP financing, and club/syndicated financing.
• Commercial Real Estate Commercial property financing for retail, office, industrial, multifamily, construction, medical/life sciences, manufactured home parks, senior housing, self-storage, and hospitality sectors.
• SBA Loans SBA Preferred Lender offering SBA 7(a), SBA 504, and SBA Express loans for small business financing with expedited local processing and decision-making.
• Agriculture / Farm & Agribusiness Loans Agricultural banking services including crop/livestock operating loans, FSA/beginning farmer loans, farm equipment financing, farmland loans, and agribusiness lending.
• Bell Capital Finance Division specializing in senior cash flow loans to lower middle market businesses with revenue of $10-100 million and EBITDA of $3-10 million, supporting acquisitions, LBOs, refinancings, and MBOs.
• Correspondent Banking Banking services for community banks including participation loans, commercial and agricultural loans, bank stock and ownership loans, bank building financing, and 401(k) plans for community bank partners across 13 states.
• Public Finance Financial solutions for municipalities including counties, cities, townships, school districts, higher education, parks, and watersheds with banking, lending, treasury management, investment management, and insurance services.
• Treasury Management Cash management services for businesses including ACH and wire origination, positive pay, remote deposit, and sweep accounts.
• HealthcareBank (HSA Services) Health Savings Account division and one of the top 10 HSA custodians in the U.S., providing HSA deposits, investment accounts, and administration with WEX Benefits Platform integration.
• Wealth Management Comprehensive wealth management services including private wealth management, financial planning, trusts and estates, and retirement plans for individuals, families, and family offices.
• Bell Institutional Investment Management Institutional investment management for insurance companies, foundations, endowments, nonprofits, corporations, and family offices with services including asset allocation, fixed income, and performance reporting using Clearwater Analytics. Claims compliance with GIPS standards.
• Bell Retirement Plan Services Retirement plan administration and consulting for 401(k), 403(b), profit sharing, and defined benefit plans with an open architecture investment platform, partnering with Ascensus as record keeper.
• Bell Insurance Insurance services through Bell Insurance Services LLC (wholly owned subsidiary) offering personal insurance (auto, home, life, health, Medicare) and business insurance (bonding, commercial property, vehicles, D&O, liability, workers compensation).

Quantifiable outcome

• Loan approvals in as little as 10 business days from initial request to closing
• +4 more outcomes

Named customers8 records

Segments10 records

Ideal customer profiles9 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• WEXcoreTechnology or IntegrationHealthcareBank, a division of Bell Bank, provides HSA services on behalf of WEX, with WEX providing investment record keeping and trading services for HSA consumers' investment accounts. The HSA investment solution is integrated with the WEX Benefits Platform, allowing HSA monies to move automatically to and from investment accounts.
• AscensuscoreTechnology or IntegrationBell Retirement Plan Services works with Ascensus, the nation's largest independent record keeper, serving 15 million people across the U.S. with $742 billion of assets under administration. Ascensus provides comprehensive retirement plan administration services.
• Charitable Solutions, LLCminorStrategic or Co-development PartnerBryan Clontz, founder and president of Charitable Solutions, LLC, is a nationally recognized expert in charitable planning who presents at Bell's Giving Insights events. His presentations cover charitable giving trends and practical insights for nonprofits and philanthropic leaders.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services is the creditor and issuer of Bell Bank's credit cards (including the Zero+ Credit Card), pursuant to a license from Visa U.S.A. Inc. Bell offers credit cards through a third-party relationship.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bremer Bank: Bremer Bank is a Minnesota-headquartered, family-founded community bank offering personal, business, wealth, and ag lending across the Upper Midwest — a directly comparable full-service community bank franchise that overlaps with Bell's ND/MN footprint.
• First International Bank & Trust: First International Bank & Trust is a North Dakota-based full-service community bank with personal, business, mortgage, wealth, and ag lending — directly comparable to Bell in geography, scale, and product breadth.
• Alerus Financial: Alerus is a Grand Forks, North Dakota-based financial services company offering banking, mortgage, wealth, retirement, and benefit services — directly comparable to Bell's North Dakota footprint and multi-product wealth/retirement platform.
• HSA Bank (a division of Webster Bank): HSA Bank is one of the largest HSA custodians in the U.S., offering health savings accounts and investment solutions integrated with employer benefits platforms — directly comparable to Bell's HealthcareBank division.
• Cornerstone Bank: Cornerstone Bank is a Nebraska-headquartered community bank offering personal, business, ag, and mortgage lending — comparable to Bell as a Midwestern relationship-banking franchise with agribusiness expertise.
• Hills Bank: Hills Bank is an Iowa-based, family-owned community bank offering personal, business, ag, and wealth management services — directly comparable to Bell's Midwestern family-owned community banking model.
• Starion Bank: Starion Bank is a North Dakota-based community bank providing personal, business, mortgage, and ag lending — a directly comparable in-state peer competing with Bell across overlapping North Dakota markets.

Broad incumbents

• HealthEquity: HealthEquity is the largest pure-play HSA administrator in the U.S., serving employers and consumers with HSA, DCRA, and benefits card products — a broad incumbent that competes head-to-head with Bell's HealthcareBank division in the HSA market.
• Old National Bank: Old National Bank is a regional community bank with full-service banking, wealth, mortgage, and commercial lending across the Midwest and Southeast — a broader incumbent that competes with Bell in commercial and retail banking.

Emerging players

• Lively: Lively is a digital-first HSA provider focused on modern consumer experience and investment integration — an emerging player that competes with Bell's HealthcareBank for digitally-native HSA consumers and employer accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries7 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 bell state bank and trust