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  2. Chelsea State Bank

Chelsea State Bank


Overview / Commentary
www.chelseastate.bank
734-475-1355
1010 South Main Street
Chelsea, MI 48118

Chelsea State Bank is headquartered in CHELSEA and is the 42nd largest bank in the state of Michigan. It is also the 2,054th largest bank in the nation. It was established in 1897 and as of December of 2023, it had grown to 56 employees at 3 locations. Chelsea State Bank has a B+ health rating.

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Health
B+

Data as of Q4 2023

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Health Grade Components

Overall
FDIC Certificate #14009
Year Established1897
Employees56
Primary RegulatorFED
Profit Margin
Return on Assets - YTD2.07%
Return on Equity - YTD23.65%
Annual Interest Income$20MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$403.6MM$424.4MM
LoansQ4 2023vs Q4 2022$240.5MM$215.9MM
DepositsQ4 2023vs Q4 2022$361.8MM$388.6MM
Equity CapitalQ4 2023vs Q4 2022$39.5MM$33.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$4.2MM$4.1MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$192K$18K
Real Estate OwnedQ4 2023vs Q4 2022$600K$600K
Rates

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Locations


Chelsea State Bank Locations
Chelsea State Bank1010 S Main StChelsea, MI 48118
Downtown Branch305 South MainChelsea, MI 48118
Dexter Branch7101 Dexter-Ann Arbor RoadDexter, MI 48130

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