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First State Bank (MI)


Overview / Commentary
fsb.bank
586-775-5000
24300 Little Mack
St. Clair Shores, MI 48080

First State Bank (MI) is headquartered in EASTPOINTE and is the 14th largest bank in the state of Michigan. It is also the 860th largest bank in the nation. It was established in 1917 and as of June of 2024, it had grown to 179 employees at 11 locations. First State Bank (MI)'s money market rates are 10X the national average, and it has an A health rating.

Related Posts

First State Bank (MI) Offers Competitive 15-Month CD Special - 2/19/2024

First State Bank (southeast MI) has a 15-month CD Special with a near market-leading APY. $1k min of new money, but limited existing funds can be deposited.

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Health
A

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #15032
Year Established1917
Employees179
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD13.44%
Annual Interest Income$30.7MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$1.23B$1.07B
LoansQ2 2024vs Q2 2023$815.9MM$699.8MM
DepositsQ2 2024vs Q2 2023$1.08B$880.3MM
Equity CapitalQ2 2024vs Q2 2023$100.4MM$87.3MM
Loan Loss AllowanceQ2 2024vs Q2 2023$13.4MM$14.5MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$1.4MM$823K
Real Estate OwnedQ2 2024vs Q2 2023$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$0$2kHoliday Savings Club Account
OTHER TIERS: 0.01% → $2k+
0.05%$0-Health Savings Account
0.01%$0-Minor Savings Account
0.01%$0-Statement Savings Account
0.01%$0-Premium Savings Account
0.01%$0-Business Savings Account

First State Bank (MI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%*$25k*-Purpose Money Market Special
OTHER TIERS: 3.25% → $1k - $5k | 3.75% → $5k - $25k
4.25%*$25k*-Business Purpose Money Market Special
OTHER TIERS: 3.25% → $1k - $5k | 3.75% → $5k - $25k
3.00%*$25k*-Purpose Money Market
OTHER TIERS: 0.01% → $0 - $1k | 2.00% → $1k - $5k | 2.50% → $5k - $25k
0.05%$0-Business Money Market Account

First State Bank (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$0-Business Interest Checking Account
0.05%$0-Interest on Lawyer Trust Accounts
0.05%$0-Public Funds Interest Checking
0.01%$0-Premium Checking Account
0.01%$500-Classic Checking Account

First State Bank (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$1k-6 Month Fixed Rate CD
4.25%$1k-Business 6 Month Fixed Rate CD
4.25%$1k$1m7 Month Fixed Rate CD Special
4.25%$1k$1mBusiness 7 Month Fixed Rate CD Special
4.05%$1k-12 Month Fixed Rate CD
4.05%$1k-Business 12 Month Fixed Rate CD
4.05%$1k$1m13 Month Fixed Rate CD Special
4.05%$1k$1mBusiness 13 Month Fixed Rate CD Special
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-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 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$1k-6 Month Fixed Rate IRA
4.05%$1k-12 Month Fixed Rate IRA
0.10%$100-18 Month Variable Rate IRA
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-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

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