The State Bank (MI)

Overview / Commentary
175 N. Leroy St.
Fenton, MI 48430

The State Bank (MI) is headquartered in Fenton and is the 14th largest bank in the state of Michigan. It is also the 831st largest bank in the nation. It was established in 1898 and as of June of 2019, it had grown to 179 employees at 16 locations. The State Bank (MI)'s money market rates are 3X the national average, and it boasts an A+ health rating.

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The State Bank (MI) Has Nationally Available Kasasa Cash (2.50% APY) - 12/28/2018

The State Bank (MI) has a nationally available Kasasa Cash checking account that earns 2.50% APY on qualifying balances up to $50k. Minimum $25 opening deposit.


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Health Grade Components

FDIC Certificate #11406
Year Established1898
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.3%
Return on Equity - YTD12.52%
Annual Interest Income$21.1MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$948.8MM$841.7MM
LoansQ2 2019vs Q2 2018$815.3MM$708.3MM
DepositsQ2 2019vs Q2 2018$796.4MM$702.0MM
Equity CapitalQ2 2019vs Q2 2018$101.5MM$73.9MM
Loan Loss AllowanceQ2 2019vs Q2 2018$5.0MM$4.0MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$1.1MM$981.00K
Real Estate OwnedQ2 2019vs Q2 2018$0$92.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The State Bank (MI) Savings Account Rates

1.00%-$100kKasasa Saver
0.05%$100-Moola Moola Savings
0.05%--Christmas Club Accounts
0.05%--Target Savings Account
0.05%$200-Basic Savings

The State Bank (MI) Money Market Rates

1.25%*$1m*$250kPinnacle Money Market Savings
OTHER TIERS: 0.25% Up to $250k | 0.50% $250k - $500k | 0.75% $500k - $750k | 1.00% $750k - $1m
1.25%*$1m*$250kBusiness Pinnacle Money Market Savings
OTHER TIERS: 0.25% Up to $250k | 0.50% $250k - $500k | 0.75% $500k - $750k | 1.00% $750k - $1m
0.15%*$20k*-Prosperity Money Market Account
OTHER TIERS: 0.01% Up to $5k | 0.05% $5k - $15k | 0.10% $15k - $20k

The State Bank (MI) Checking Account Rates

2.50%*-$50kKasasa Cash Checking
OTHER TIERS: 0.15% $50k+

The State Bank (MI) CD Rates

2.00%$500-60 Month CD Special
1.90%$500-48 Month CD Special
1.80%$500-36 Month CD Special
1.75%$500-30 Month CD Special
1.70%$500-24 Month CD Special
1.60%$500-18 Month CD Special
1.50%$500-12 Month CD Special
0.65%$500-60 Month or More CD
0.35%$500-48-59 Month CD
0.35%$500-36-47 Month CD
0.15%$500-24-35 Month CD
0.10%$500-12-23 Month CD
0.05%$500-182-364 Day CD
0.05%$500-91-181 Day CD
0.05%$10k-32-90 Day CD
0.05%$20k-7-31 Day CD

The State Bank (MI) IRA Rates

2.00%$500-60 Month IRA Special
1.90%$500-48 Month IRA Special
1.80%$500-36 Month IRA Special
1.75%$500-30 Month IRA Special
1.70%$500-24 Month IRA Special
1.60%$500-18 Month IRA Special
1.50%$500-12 Month IRA Special
0.65%$500-60 Month or More IRA
0.35%$500-36-47 Month IRA
0.35%$500-48-59 Month IRA
0.15%$500-24-35 Month IRA
0.10%$500-12-23 Month IRA
0.05%$20k-7-31 Day IRA
0.05%$500-91-181 Day IRA
0.05%$10k-32-90 Day IRA
0.05%$500-182-364 Day IRA


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