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Chelsea State Bank

Popular Accounts at this Bank

1.25%5-year CD60 Month CD
0.30%1-year CD12 Month CD
0.05%SavingsRegular Statement Savings

Overview / Commentary
1010 South Main Street
Chelsea, MI 48118

Chelsea State Bank is headquartered in Chelsea and is the 47th largest bank in the state of Michigan. It is also the 2,334th largest bank in the nation. It was established in 1897 and as of September of 2017, it had grown to 50 employees at 3 locations. Chelsea State Bank has an A+ health rating.

Reviews (1)

Convenient, but could do a whole lot better!

I've banked with this bank for over 50 years. It was the only bank in town when I was a child, and I started my first savings account there. The same couple of families still run the bank. So, it has history in a small town. People still "know" people. I still use this bank because it's convenient, and I don't need many "extras" with my banking. But it's quite dismaying to see it go the way of many bigger banks, in that the focus no longer seems to be on the customer, but in making a profit. There have been multiple times I had to correct something they did, and one time, was told that it happened because of something I had not done. I didn't appreciate the blame being cast on me, simply because someone didn't do their job. It required multiple calls, until I got the right person to fix things. It wasn't a lot of money, but it was MY money, and it really ticked me off. If I had a larger amount to invest in a bank, or was moving larger amounts of money, I would look at other options.


Health Grade Components

FDIC Certificate #14009
Year Established1897
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.45%
Return on Equity - YTD12.89%
Annual Interest Income$7.8MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$278.6MM$265.4MM
LoansQ3 2017vs Q3 2016$161.0MM$164.0MM
DepositsQ3 2017vs Q3 2016$244.1MM$232.3MM
Equity CapitalQ3 2017vs Q3 2016$33.1MM$31.8MM
Loan Loss AllowanceQ3 2017vs Q3 2016$4.1MM$4.3MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$421.00K$1.9MM
Real Estate OwnedQ3 2017vs Q3 2016$599.00K$1.5MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Chelsea State Bank Savings Account Rates

0.20%*$100k*-Combined Statement Savings
OTHER TIERS: 0.10% Up to $100k
0.05%--Regular Statement Savings

Chelsea State Bank Money Market Rates

0.20%*$100k*-Premier Money Market Savings
OTHER TIERS: 0.10% Up to $50k | 0.15% $50k - $100k
0.20%*$50k*-Combined Money Market Savings
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $50k
0.10%*$2,500*-Money Market Savings
OTHER TIERS: 0.05% Up to $2,500

Chelsea State Bank Checking Account Rates

0.20%*$100k*-Premier Interest Checking
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.15% $50k - $100k
0.05%--Regular Interest Checking

Chelsea State Bank CD Rates

1.25%$500-60 Month CD
1.00%$500-48 Month CD
0.75%$500-36 Month CD
0.60%$500-30 Month CD
0.50%$500-24 Month CD
0.35%$500-18 Month CD
0.30%$500-12 Month CD
0.25%$5k-182 Days CD

Chelsea State Bank IRA Rates

1.25%$500-60 Month IRA
1.00%$500-48 Month IRA
0.75%$500-36 Month IRA
0.60%$500-30 Month IRA
0.50%$500-24 Month IRA
0.35%$500-18 Month IRA
0.30%$500-12 Month IRA
0.25%$5k-182 Days IRA

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