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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 23rd largest bank in the state of Michigan. It is also the 1,332nd largest bank in the nation. It was established in 1905 and as of December of 2020, it had grown to 147 employees at 13 locations. Sturgis Bank has an A health rating.

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Health
A

Data as of Q4 2020

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Health Grade Components

Overall
FDIC Certificate #28593
Year Established1905
Employees147
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.11%
Return on Equity - YTD13.81%
Annual Interest Income$21.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$643.5MM$473.4MM
LoansQ4 2020vs Q4 2019$451.9MM$355.5MM
DepositsQ4 2020vs Q4 2019$512.7MM$353.2MM
Equity CapitalQ4 2020vs Q4 2019$56.8MM$43.4MM
Loan Loss AllowanceQ4 2020vs Q4 2019$6.2MM$3.5MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.2MM$813.00K
Real Estate OwnedQ4 2020vs Q4 2019$341.00K$193.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$250k*-Municipalities & School Non-Personal Checking
OTHER TIERS: 0.10% → Up to $25k | 0.20% → $25k - $100k | 0.25% → $100k - $250k
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
0.04%--Sole Proprietorship Business Checking
0.02%$2.5k-Personal Secure Checking

Sturgis Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%$5k-54 Month CD Special
0.50%$500-5 Year CD
0.35%$500-4 Year CD
0.30%$500-3 Year CD
0.30%$5k-11 Month CD Special
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

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