NBA veteran Harrison Barnes has invested $25 million of his own money to become the owner of a community bank in his home state of Iowa.
Bank Man
The San Antonio Spurs forward acquired Community State Bank in Paton through Barnes Bancorp Inc., a company he primarily owns. The 70-year-old institution is located less than an hour from Ames, where Barnes grew up.
The bank reportedly has about $42 million in total assets and $35 million in total deposits. It provides traditional banking services, savings accounts, and loans primarily for local farmers in Greene County. It is located in a small town; Paton has a population of roughly 220 people.
Barnes said he will be able to separate all parts of his life, including basketball and banking.
“I think the biggest thing is that you have to be where your feet are. When I’m focused on basketball and I’m in that lane, I’m 100 percent a basketball player. When I’m here trying to figure out how to best support and serve Community State Bank, I’m 100-percent in this lane, right? When I’m at home and I’m with my family, I’m 100-percent a husband and a father right? Like, I think every time that you step into a room, you step into a space, you are 100-percent where you’re feet are at, and that’s how I find the balance,” he told Raccoon Valley Radio.
Barnes is entering his 15th NBA season after agreeing to a one-year, $8 million contract with the Spurs for the 2026-27 season. His NBA career earnings have reportedly reached approximately $224.1 million. He has an estimated net worth of $16 million, according to Celebrity Net Worth.
Community State Bank CEO Craig Marquardt said the bank’s name, employees, and management will remain following the acquisition. Barnes stressed his goal is to build on the institution’s existing relationships rather than overhaul the bank.
“This is not a vanity project,” Barnes said. “We want to be Iowa’s next great bank.”