First State Bank (MI)

Overview / Commentary

586-775-5000

24300 Little Mack
St. Clair Shores, MI 48080

First State Bank (MI) is headquartered in EASTPOINTE and is the 16^th largest bank in the state of Michigan. It is also the 1,027^th largest bank in the nation. It was established in 1917 and as of March of 2023, it had grown to 180 employees at 11 locations. First State Bank (MI)'s money market rates are 9X the national average, and it has a B+ health rating.

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Health

B+

Data as of Q1 2023

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Health Grade Components

Overall
FDIC Certificate #	15032
Year Established	1917
Employees	180
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	1.45%
Return on Equity - YTD	16.3%
Annual Interest Income	$10.1MM

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$956.7MM$977.7MM
Loans	Q1 2023vs Q1 2022	$607.2MM$408.7MM
Deposits	Q1 2023vs Q1 2022	$867.8MM$892.0MM
Equity Capital	Q1 2023vs Q1 2022	$86.5MM$84.8MM
Loan Loss Allowance	Q1 2023vs Q1 2022	$14.4MM$13.2MM
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$859.00K$1.1MM
Real Estate Owned	Q1 2023vs Q1 2022	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First State Bank (MI) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	-	$2k	Holiday Savings Club Account
OTHER TIERS: 0.01% → $2k+
0.05%	-	-	Health Savings Account
0.01%	-	-	Minor Savings Account
0.01%	-	-	Statement Savings Account
0.01%	-	-	Premium Savings Account
0.01%	-	-	Business Savings Account

First State Bank (MI) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%^*	$25k^*	-	Purpose Money Market
OTHER TIERS: 3.25% → $1k - $5k \| 3.75% → $5k - $25k
0.05%	-	-	Business Money Market Account

First State Bank (MI) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.05%	-	-	Business Interest Checking Account
0.05%	-	-	Interest on Lawyer Trust Accounts
0.05%	-	-	Public Funds Interest Checking
0.01%	-	-	Premium Checking Account
0.01%	$500	-	Classic Checking Account

First State Bank (MI) CD Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	$1m	7 Month CD Special
5.00%	$1k	$1m	Business 7 Month CD Special
4.75%	$1k	$1m	13 Month CD Special - New Money
4.75%	$1k	$1m	Business 13 Month CD Special - New Money
0.05%	$1k	-	6 Month $250 Easy CD
0.05%	$1k	-	30 Day Fixed Rate CD
0.05%	$1k	-	91 Day Fixed Rate CD
0.05%	$1k	-	6 Month Fixed Rate CD
0.05%	$1k	-	12 Month Fixed Rate CD
0.05%	$1k	-	18 Month Fixed Rate CD
0.05%	$1k	-	24 Month Fixed Rate CD
0.05%	$1k	-	30 Month Fixed Rate CD
0.05%	$1k	-	36 Month Fixed Rate CD
0.05%	$1k	-	48 Month Fixed Rate CD
0.05%	$1k	-	60 Month Fixed Rate CD
0.05%	$1k	-	Business 30 Day Fixed Rate CD
0.05%	$1k	-	Business 91 Day Fixed Rate CD
0.05%	$1k	-	Business 6 Month $250 Easy CD
0.05%	$1k	-	Business 6 Month Fixed Rate CD
0.05%	$1k	-	Business 12 Month Fixed Rate CD
0.05%	$1k	-	Business 18 Month Fixed Rate CD
0.05%	$1k	-	Business 24 Month Fixed Rate CD
0.05%	$1k	-	Business 30 Month Fixed Rate CD
0.05%	$1k	-	Business 36 Month Fixed Rate CD
0.05%	$1k	-	Business 48 Month Fixed Rate CD
0.05%	$1k	-	Business 60 Month Fixed Rate CD

First State Bank (MI) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	$1m	7 Month IRA Special
4.75%	$1k	$1m	13 Month IRA Special - New Money
0.05%	$1k	-	30 Day Fixed Rate IRA
0.05%	$1k	-	91 Day Fixed Rate IRA
0.05%	$1k	-	6 Month $250 Easy IRA
0.05%	$1k	-	6 Month Fixed Rate IRA
0.05%	$1k	-	12 Month Fixed Rate IRA
0.05%	$1k	-	18 Month Fixed Rate IRA
0.05%	$1k	-	24 Month Fixed Rate IRA
0.05%	$1k	-	30 Month Fixed Rate IRA
0.05%	$1k	-	36 Month Fixed Rate IRA
0.05%	$1k	-	48 Month Fixed Rate IRA
0.05%	$1k	-	60 Month Fixed Rate IRA

Locations

Availability

Detroit Area

Detroit Area bank & credit union details

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