Sturgis Bank


Overview / Commentary
269-651-9345
113-125 E Chicago
Sturgis, MI 49091

Sturgis Bank is headquartered in STURGIS and is the 20th largest bank in the state of Michigan. It is also the 1,102nd largest bank in the nation. It was established in 1905 and as of September of 2023, it had grown to 192 employees at 17 locations. Sturgis Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #28593
Year Established1905
Employees192
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.12%
Return on Equity - YTD14.57%
Annual Interest Income$30.1MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$897.1MM$842.1MM
LoansQ3 2023vs Q3 2022$737.2MM$670.5MM
DepositsQ3 2023vs Q3 2022$809.8MM$746MM
Equity CapitalQ3 2023vs Q3 2022$69.9MM$65.2MM
Loan Loss AllowanceQ3 2023vs Q3 2022$9.5MM$7.1MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$1.6MM$17K
Real Estate OwnedQ3 2023vs Q3 2022$126K$375K
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