nbkc bank agrees to take over LSBX's consumer BaaS programs from Lincoln Savings Bank
nbkc bank has filed an application with the FDIC to assume the consumer Banking-as-a-Service portfolio of LSBX, the BaaS division of Lincoln Savings Bank.
nbkc bank has filed an application with the FDIC to assume the consumer Banking-as-a-Service portfolio of LSBX, the BaaS division of Lincoln Savings Bank. The deal is expected to close in early 2027, subject to regulatory approval, and terms were not disclosed. It follows a September announcement that Lincoln Savings Bank's parent, Lincoln Bancorp of Reinbeck, Iowa, will merge into Equity Bancshares of Wichita, Kansas.
nbkc, based in Kansas City, Missouri, has about 13 BaaS relationships with fintech companies, around 3.6 million BaaS customers and 30 dedicated BaaS employees. CEO Michael Bartkoski said the LSBX business would be merged into nbkc's and go to market under the nbkc brand.
Sean Willett, CEO of Lincoln Savings Bank, called nbkc an excellent successor for LSBX customers.