Algonquin State Bank
About Algonquin State Bank
Algonquin State Bank is a company based in Algonquin (United States) founded in 1902 was acquired by Michigan State University Federal Credit Union in September 2023.. The company has 21 employees as of December 31, 2022. Algonquin State Bank operates in a competitive market with competitors including Santander, UniCredit, Scotiabank, Bank of America and Caixabank, among others.
- Headquarter Algonquin, United States
- Employees 21 as on 31 Dec, 2022
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Sectors
Financial Services
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Email
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Phone
*********
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Website
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Social
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- Legal Name Algonquin State Bank, N.A.
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
- Investors
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Employee Count
21
as on Dec 31, 2022
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Acquired by
Michigan State University Federal Credit Union
(Sep 01, 2023)
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Funding Insights of Algonquin State Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Algonquin State Bank
Algonquin State Bank has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Michigan State University Federal Credit Union. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Operates as a credit union providing financial products to community members.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Algonquin State Bank
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Algonquin State Bank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Algonquin State Bank Comparisons
Competitors of Algonquin State Bank
Algonquin State Bank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Santander, UniCredit, Scotiabank, Bank of America and Caixabank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Commercial banking services are provided to individuals and institutions globally.
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Commercial bank
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Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking and asset management services are offered worldwide.
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Banking products and services are offered to individuals and businesses.
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Banking and financial service provider
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Algonquin State Bank
Frequently Asked Questions about Algonquin State Bank
When was Algonquin State Bank founded?
Algonquin State Bank was founded in 1902.
Where is Algonquin State Bank located?
Algonquin State Bank is headquartered in Algonquin, United States. It is registered at Algonquin, Illinois, United States.
Who is the current CEO of Algonquin State Bank?
Daniel Morrissey is the current CEO of Algonquin State Bank.
How many employees does Algonquin State Bank have?
As of Dec 31, 2022, the latest employee count at Algonquin State Bank is 21.
What does Algonquin State Bank do?
Algonquin State Bank was founded in 1902 and operates as a commercial bank based in Algonquin, United States. Core activities include deposit accounts, lending, and financial services for businesses and individuals. Leadership is shared by Co-CEOs Daniel Morrissey and Rick Worzala. Operations focus on regional banking needs, with the domain algonquinstatebank.com serving as the primary online presence. Standard commercial banking practices are followed to support local economic activities.
Who are the top competitors of Algonquin State Bank?
Algonquin State Bank's top competitors include Caixabank, Scotiabank and Bank of America.
Who are Algonquin State Bank's investors?
Algonquin State Bank has 1 investor. Key investors include Michigan State University Federal Credit Union.