Question 1

What is Capra Bank?

Accepted Answer

Capra Bank is a rapidly growing commercial bank focused on relationship-based community banking. With approximately $984 million in assets and six offices across three states, Capra specializes in serving small to medium-sized businesses with locally-focused banking solutions combined with modern technology.

Founded in 2023 by Tut Fuller and headquartered in Dubuque, Iowa, Capra Bank has achieved recognition as the fastest-growing bank in America in the under $3 billion asset range according to Raymond James statistics. The bank operates on a philosophy of keeping local deposit dollars invested in local communities.

Question 2

When was Capra Bank founded?

Accepted Answer

Capra Bank's history traces back to January 21, 1946, when the institution was originally established as Peoples Savings Bank in Montezuma, Iowa. The bank operated for decades under that name, maintaining trust powers and serving the Montezuma community.

On February 20, 2023, the institution underwent a transformative rebranding and expansion when Tut Fuller, a former executive at Dubuque Bank and Trust Company, acquired the bank and renamed it Capra Bank. The bank opened its first Dubuque branch on April 3, 2023, followed by headquarters relocation to Dubuque on August 26, 2023.

Question 3

Where is Capra Bank headquartered?

Accepted Answer

Capra Bank is headquartered in Dubuque, Iowa, at 955 Washington Street, Suite 107. The bank moved its main office from Montezuma to Dubuque in August 2023, reflecting the strategic importance of the Dubuque market to Capra's growth strategy.

Dubuque serves as Capra's operational hub and represents the bank's commitment to restoring locally-owned, community-focused banking to a city where all major local banks had previously been acquired by larger out-of-market institutions.

Question 4

Where does Capra Bank operate?

Accepted Answer

Capra Bank operates six full-service branches across Iowa, Texas, and New Mexico. The bank maintains locations in Dubuque and Montezuma, Iowa; Lubbock, Texas (opened September 2023); and Albuquerque, New Mexico (opened July 2024).

Additional locations are under development, with permanent facilities being constructed in Lubbock to replace the initial temporary location. Capra's expansion strategy focuses on opening de novo branches in markets where community banking has declined, rather than growing primarily through acquisitions.

The bank's geographic footprint reflects careful market selection, targeting communities where local business relationships and community-focused banking can provide competitive advantages over larger regional and national banks.

Question 5

What services does Capra Bank offer?

Accepted Answer

Capra Bank offers comprehensive commercial and consumer banking services with emphasis on business, commercial real estate, and mortgage lending. Commercial services include business loans, lines of credit, commercial real estate financing, and treasury management solutions.

Consumer banking services encompass personal checking and savings accounts, mortgage loans, and consumer credit products. The bank prioritizes online and mobile banking technology that matches capabilities of much larger banks, while maintaining personalized service and local decision-making.

Through an alliance with Steele Capital Management formed in 2023, Capra Bank customers have access to wealth management and retirement plan services. This partnership allows Capra to offer comprehensive financial solutions without building these capabilities internally.

The bank employs modern banking technology that Fuller credits with allowing Capra to compete effectively without the massive branch infrastructure traditionally required, keeping operational costs low while providing superior digital experiences.

Question 6

What makes Capra Bank unique?

Accepted Answer

Capra Bank's ownership structure distinguishes it from traditional community banks by offering business and consumer clients opportunities to buy equity stakes in the bank itself. This approach aligns customer and shareholder interests, making clients actual owners of their community bank.

The bank's rapid growth trajectory is extraordinary. From approximately $140 million in assets in late 2023, Capra grew to over $300 million by April 2024, and exceeded $710 million by early 2025. This represents nearly tripling assets within 18 months while maintaining financial soundness.

Founder and CEO Tut Fuller emphasizes local investment of deposit dollars, measuring each market individually to ensure local deposits fund local loans. Capra places signs on construction projects it finances, making visible the bank's economic impact on local communities.

The bank's operating model prioritizes technology investment and experienced bankers over expensive branch real estate. Fuller notes that average branches cost $3-6 million to build, money that Capra instead deploys toward technology, talent, and competitive compensation packages.

Question 7

What type of financial institution is Capra Bank?

Accepted Answer

Capra Bank is a state-chartered commercial bank supervised by the Federal Deposit Insurance Corporation (FDIC). Originally chartered on January 21, 1946, the bank converted to its current Capra Bank identity in 2023 while maintaining its federal deposit insurance and regulatory standing.

As a state-chartered, FDIC-member bank that is not a member of the Federal Reserve System, Capra operates under FDIC supervision. The bank is headquartered in Iowa and operates with certificate number 16363 and RSSD ID 1013744.

Capra's classification as a commercial bank reflects its focus on business lending, though it maintains full-service capabilities for consumer banking as well. The bank's specialized focus on small to medium-sized businesses positions it in the community banking sector with a modern operational approach.

Question 8

What is Capra Bank's approach to community impact?

Accepted Answer

Capra Bank's community philosophy centers on keeping financial resources circulating locally. Tut Fuller explains that when local deposits fund local business loans, everyone from concrete contractors to painters gets paid with local dollars that they spend in the community, creating economic multiplier effects.

The bank believes strong local banks create more resilient local economies. Fuller points to Dubuque's economic challenges in the 1980s and the 2008 financial crisis as examples of how economic shocks impact communities, emphasizing that strong local money supply insulates against such disruptions.

Capra's commitment to Dubuque and other markets goes beyond profit motives. Fuller notes, "We didn't need to headquarter a bank in Dubuque. We could have done a lot of other things. But we care about this community and we think the outlook for Dubuque can be bright if we have a leading local bank."

The bank supports local events through donations and sponsorships, with CEO recognition from organizations like the Dubuque Area Chamber of Commerce for quickly becoming part of Dubuque's economic landscape. Capra was named a 2025 Best Place to Work, reflecting internal culture that prioritizes employee satisfaction alongside customer service.

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About Capra Bank in the United States