Security Midwest Bancorp is the holding company for Security Bank, a community savings bank headquartered in Springfield, Illinois, with three branches and roughly $257M in total assets. Security Bank runs two businesses: traditional community banking and a cannabis-related business (CRB) banking program. On the traditional side, Security Bank takes deposits from local residents and businesses in Sangamon County and lends those funds into the local market, primarily as commercial real estate (CRE) and residential real estate loans. On the CRB side, Security Bank provides deposit and cash-management services to licensed cannabis businesses in Illinois, Michigan, Ohio, and Kentucky, and also makes CRE loans to cannabis operators. Cannabis businesses have limited banking options due to federal legal ambiguity, which gives Security Bank a captive deposit base of zero-cost, non-interest bearing demand deposits — CRB deposits make up 35% of total deposits and are the bank's primary competitive advantage, significantly lowering its overall cost of funds. Security Bank earns money on the spread between its low-cost deposit base and its loan and investment securities portfolio. Secondary revenue comes from selling fixed-rate residential mortgage originations to Freddie Mac. The bank operates a lean cost structure with 50 full-time employees. Security Bank's growth strategy centers on expanding its CRB deposit program into new states (Missouri is next) and growing its CRE and C&I loan books. In July 2025, Security Bank converted from a mutual savings bank to a stock company, raising ~$8.9M in equity capital to support these growth initiatives.