Sturgis Bank

Overview / Commentary

www.sturgis.bank

269-651-9345

113-125 E Chicago
Sturgis, MI 49091

Sturgis Bank is headquartered in Sturgis and is the 21^st largest bank in the state of Michigan. It is also the 1,210^th largest bank in the nation. It was established in 1905 and as of June of 2022, it had grown to 173 employees at 15 locations. Sturgis Bank has an A health rating.

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2018

5/12 - 38-Month Best In The Market CD, 3.05% APY

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Health

Data as of Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	28593
Year Established	1905
Employees	173
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.82%
Return on Equity - YTD	9.73%
Annual Interest Income	$12.6MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$782.9MM$706.6MM
Loans	Q2 2022vs Q2 2021	$615.9MM$504.2MM
Deposits	Q2 2022vs Q2 2021	$686.6MM$571.6MM
Equity Capital	Q2 2022vs Q2 2021	$65.0MM$63.6MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$7.3MM$7.0MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$89.00K$325.00K
Real Estate Owned	Q2 2022vs Q2 2021	$240.00K$210.00K

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.

Sturgis Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.20%^*	$25k^*	-	Health Savings Accounts
OTHER TIERS: 0.04% → Up to $10k \| 0.10% → $10k - $25k
0.04%^*	$10k^*	-	Personal Ultimate Savings
OTHER TIERS: 0.02% → Up to $10k
0.04%^*	$10k^*	-	Business Ultimate Savings
OTHER TIERS: 0.02% → Up to $10k
0.02%	$100	-	Personal Statement Savings
0.02%	-	-	Personal Holiday Savings
0.02%	$100	-	Business Statement Savings
0.02%	$100	-	School Saving Account

Sturgis Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.25%^*	$100k^*	-	Super Multiplier Personal Money Market Account
OTHER TIERS: 0.05% → Up to $5k \| 0.10% → $5k - $25k \| 0.15% → $25k - $100k
0.25%^*	$100k^*	-	Corporate Multiplier Money Market Account
OTHER TIERS: 0.05% → Up to $5k \| 0.10% → $5k - $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $100k

Sturgis Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.25%^*	$100k^*	-	Civic, Church & Charitable Accounts Non-Personal Checking
OTHER TIERS: 0.02% → $450 - $2.5k \| 0.10% → $2.5k - $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $100k
0.25%^*	$100k^*	-	Municipalities & School Non-Personal Checking
OTHER TIERS: 0.10% → Up to $25k \| 0.20% → $25k - $100k
0.04%	-	-	Sole Proprietorship Business Checking
0.02%	$2.5k	-	Personal Secure Checking

Sturgis Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.50%	$5k	-	43 Month CD Special
0.80%	$5k	-	9 Month CD Special
0.50%	$500	-	5 Year CD
0.35%	$500	-	4 Year CD
0.30%	$500	-	3 Year CD
0.25%	$500	-	2 Year CD
0.20%	$500	-	1 Year CD
0.10%	$2.5k	-	6 Month CD
0.05%	$2.5k	-	3 Month CD

Sturgis Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	$500	-	5 Year IRA
0.35%	$500	-	2 Year IRA
0.35%	$500	-	4 Year IRA
0.30%	$500	-	3 Year IRA
0.25%	$500	-	1 Year IRA
0.10%	$2.5k	-	6 Month IRA
0.05%	$2.5k	-	3 Month IRA

Locations

Availability

Grand Rapids Area

Grand Rapids Area bank & credit union details

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