NBA Star Harrison Barnes Invests $25 Million in Iowa Bank Near Hometown

San Antonio Spurs forward Harrison Barnes is making a major financial commitment to his home state of Iowa, purchasing Community State Bank near Ames with a $25 million personal investment. The 14-year NBA veteran's move is turning heads across the league and in the Iowa business community.

Former teammate recalls Barnes' long-held plan

Indiana Pacers star Tyrese Haliburton, who played alongside Barnes with the Sacramento Kings from 2020 to 2022, revealed that Barnes shared his banking ambitions years ago.

HB told me this was the plan my rookie year!! I couldn't believe what I was hearing. That was the first time I realized dudes in the NBA got real families and are real adults like wtf lol, Haliburton wrote on X.

Barnes: 'This is not a vanity project'

Barnes, who grew up in Ames, has completed a year of coursework at the Iowa School of Banking while maintaining his NBA career. He made the purchase through his company, Barnes Bancorp, Inc., and has prior experience as a bank director. He also runs a private equity firm, Barnes and Co.

Despite the bank keeping its existing staff, Barnes insists the investment is about growth, not sentiment.

This is not a vanity project. We want to be Iowa's next great bank, Barnes said.

Barnes credited the bank's leadership for making the opportunity attractive.

I think what makes Community State Bank so special is really just how this bank was formed. But the leadership of (CEO) Craig (Marquardt) and Jake (Bohnet) has been phenomenal, he said. And I think that when you are talking about banking, you're talking about trust, and I think the leadership that those guys exemplify on a day-to-day basis makes it exciting to want to support and build upon the legacy that they can say that's been here now for 70 years.

How Barnes balances basketball and business

When asked how he manages his dual roles as an active NBA player and bank owner, Barnes emphasized focus and presence.

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 your feet are at, and that's how I find the balance, he concluded.

A rare move for an active player

Barnes has earned $224.1 million in career salary across stints with the Golden State Warriors, Dallas Mavericks, Sacramento Kings, and now the Spurs. His estimated net worth stands at $16 million, according to Celebrity Net Worth.

Entering his 15th NBA season, Barnes is breaking the mold for active players engaging in serious business ventures. While most of his peers focus exclusively on offseason training ahead of training camp, Barnes is simultaneously preparing for the season and overseeing a community bank in central Iowa.

The purchase represents a significant commitment to Iowa's financial sector and rural economy. Community State Bank has operated for seven decades, and Barnes' investment signals confidence in the state's banking industry and local communities.

It remains to be seen how this off-court venture will perform, but for Iowa, having a hometown NBA star invest in local financial infrastructure is a notable development worth watching.

Frequently asked questions

How much did Harrison Barnes invest in the Iowa bank?

Harrison Barnes invested $25 million of his own money to purchase Community State Bank near Ames, Iowa.

Where is Community State Bank located?

Community State Bank is located near Ames, Iowa, which is Barnes' hometown.

Will the bank's staff change under new ownership?

No, the bank plans to keep the same staff under Barnes' ownership.

Is Harrison Barnes still playing in the NBA?

Yes, Barnes is entering his 15th NBA season with the San Antonio Spurs while also running his banking business.