After Tyrese Haliburton saw that his teammate-turned-opponent bank shot just got literal, he needed to take a moment. Harrison Barnes got an early start on his Hakeem Olajuwon/Shaquille O’Neal trajectory with unexpected business moves when he moved forward with the purchase of a small bank in his home state of Iowa. No one saw that coming. Not even the guy he actually told his plan to.
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Reports revealed that the San Antonio Spurs forward is acquiring the 70-year-old Community State Bank in Paton, Iowa, located less than an hour from where Barnes grew up in Ames. As reported by The Bank Slate, Barnes, through Barnes Bancorp, has committed approximately $25 million via a proposed equity offering of his own capital into the financial institution.
Barnes has always been known as one of the league’s most thoughtful and strategic players off the court. However, his latest off-court business move left even his former teammate thoroughly amazed. The news quickly made the rounds across social media, prompting a humorous and wholesome reaction from Indiana Pacers superstar Tyrese Haliburton, who played alongside Barnes during his rookie season with the Sacramento Kings.
“HB told me this was the plan my rookie year!! I couldn’t believe what I was hearing,” Haliburton tweeted. “That was the first time I realized dudes in the NBA got real families and are real adults like wtf lol.”
Reflecting on his early days in the league, Haliburton shared his genuine shock when Barnes first pitched him the ambitious career milestone years ago. It just confirmed it was no sudden decision when the opportunity opened up. Barnes had his blueprint all figured out.
About seven years into his NBA career, Barnes landed in Sacramento in 2019. He’d soon take the 2020 draft’s 12th overall pick, Tyrese Haliburton, under his wing.
Haliburton’s candid admission underscored how rare it is for young players to see active NBA veterans laying down deep, long-term financial roots in traditional commercial industries like banking while still actively competing in the league.
Barnes has built an impressive financial portfolio through his family firm, Barnes & Co., after accumulating roughly $224 million in career earnings over his NBA career spanning more than a dozen seasons. His acquisition of Community State Bank in Paton, Iowa, represents a culmination of years spent studying financial institutions, including enrolling in the Iowa School of Banking while competing in the postseason.
The purchase of Community State Bank isn’t a sudden pivot for the veteran forward. Over his decorated career, Barnes has quietly built an extensive portfolio within financial services, including board service and stakes in institutions such as Triumph Financial, along with other banking investments.
Speaking with local radio outlet Raccoon Valley Radio during a visit to meet the staff in Paton, Barnes explained that his interest in community banking deepened during the COVID-19 pandemic, where he witnessed local banks act as vital economic first responders for small businesses and families.
To ensure a seamless transition for local residents, CEO Craig Marquardt confirmed that the bank’s name and staff will remain entirely unchanged under Barnes & Company’s ownership.
Barnes has assembled a leadership team with strong Iowa ties to build upon the bank’s 70-year legacy. When asked how he balances high-stakes professional basketball, family life, and running a financial institution, Barnes highlighted a simple philosophy: focus.
“I think the biggest thing is that you have to be where your feet are,” Barnes told Raccoon Valley Radio. “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.”
As Barnes prepares for his upcoming NBA campaign with the Spurs, his groundbreaking venture in Iowa provides a blueprint for athlete entrepreneurship, leaving peers like Haliburton in awe of his long-term vision.