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The State Bank (MI)


Overview / Commentary
www.thestatebank.com
810-629-2263
175 N. Leroy St.
Fenton, MI 48430

The State Bank (MI) is headquartered in Fenton and is the 13th largest bank in the state of Michigan. It is also the 775th largest bank in the nation. It was established in 1898 and as of March of 2021, it had grown to 195 employees at 18 locations. The State Bank (MI) has an A health rating.

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The State Bank (MI) Offers Rewards Checking/Savings Statewide - 5/14/2021

The State Bank (MI) offers its Kasasa brand products (rewards checking, rewards savings, and cash back checking) on a statewide basis through an online application.

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Health
A

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #11406
Year Established1898
Employees195
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.53%
Return on Equity - YTD15.48%
Annual Interest Income$11.9MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.30B$1.07B
LoansQ1 2021vs Q1 2020$1.04B$879.5MM
DepositsQ1 2021vs Q1 2020$1.12B$886.5MM
Equity CapitalQ1 2021vs Q1 2020$128.4MM$111.5MM
Loan Loss AllowanceQ1 2021vs Q1 2020$11.1MM$7.3MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$8.1MM$844.00K
Real Estate OwnedQ1 2021vs Q1 2020$0$400.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The State Bank (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$100kKasasa Saver
OTHER TIERS: 0.15% → $100k+
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$1m*$250kPinnacle Money Market Savings
OTHER TIERS: 0.10% → Up to $250k | 0.12% → $250k - $500k | 0.15% → $500k - $750k | 0.20% → $750k - $1m
0.10%*$20k*-Prosperity Money Market Account
OTHER TIERS: 0.01% → Up to $5k | 0.05% → $5k - $20k

The State Bank (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*-$50kKasasa Cash Checking
OTHER TIERS: 0.15% → $50k+

The State Bank (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%$500-24 - 60 Month CD Special
0.40%$500-12 Month CD Special
0.35%$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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%$500-24 - 60 Month IRA Special
0.40%$500-12 Month IRA Special
0.35%$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
Locations

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