First State Bank of Michigan
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Data as of · sourced from FFIEC call reports. How we update
First State Bank of Michigan is an FDIC-insured commercial bank headquartered in Decatur, MI, established in 1870 (FDIC certificate 12893), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $87.8M, up 41.0% from Q2 2025, the 68th largest of 72 banks headquartered in Michigan. It reports no CET1 ratio; its Tier 1 leverage ratio was 13.89% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 12893
- Headquarters
- Decatur, MI
- Established
- 1870
- Total assets, Q2 2026
- $87.8M
- Assets vs Q2 2025
- +41.0%
- Tier 1 leverage ratio, Q2 2026
- 13.89%
- Domestic offices
- 2 FDIC institution directory, current count
- Routing number
- 072404197
- Latest call report
- Q2 2026, FFIEC 051 · First State Bank of Michigan call report
- Holding company
- GTSB FINANCIAL, INC.
- Asset rank in state
- 68th of 72 in Michigan
First State Bank of Michigan spends more to run itself than most banks of its size. The Decatur, Michigan bank had $88 million in assets at June 30, 2026, up 41.0% from a year earlier. It loses about $1.29 a year on every $100 of assets, lower than about 9 in 10 of the 583 banks with less than $100 million in assets (median $1.06). It also spends about 130 cents to bring in each dollar of revenue, about double the median of 69 cents for banks its size.
It lost $275,000 in the quarter. Problem loans eased: loans on nonaccrual or 90 or more days past due, net of government guarantees, were 0.88% of loans, down from 1.09% a year earlier. Funding is the softer spot: it pays an average of 2.23% on its deposits and borrowings, higher than about three-quarters of banks its size (median 1.53%).
As of June 30, 2026, First State Bank of Michigan reported a return on assets of -1.29%, a nonperforming-loan ratio of 0.88% and a Texas ratio of 5.23%. The figures come from its call report filed with the FFIEC.
Of the 72 banks headquartered in Michigan, First State Bank of Michigan is the 68th largest by total assets at Q2 2026. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 5.5% to $87.8M, loans rose 24.5% and deposits rose 7.2%. Its loan book on June 30, 2026 was led by commercial and industrial loans, at 48.5% of total loans, followed by 1-4 family residential loans at 38.8%. Its 2 offices in the FDIC Summary of Deposits are in Decatur, MI and Traverse City, MI; its Decatur office books 99% of its branch deposits. On its Q2 2026 call report, First State Bank of Michigan meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 124 S Phelps St, Decatur, MI 49045
- County
- Van Buren
- Charter
- Commercial bank, state charter, Fed member, FRB-supervised
- Primary Regulator
- Federal Reserve
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- Yes
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- January 1, 1870
- Domestic offices
- 2 FDIC institution directory, current count
- Employees (FTE)
- 20
- Domestic deposits
- $71.6M
- Allowance for credit losses
- $609K
- Net charge-offs (YTD)
- $0
- Average total assets
- $85.0M
- Average total loans
- $56.1M
- Average interest-bearing deposits
- $59.6M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 2, 1934
- FDIC Cert
- 12893
- Fed RSSD
- 654047
- Website
- www.fsbdecatur.com →
- Parent Holding Company
- GTSB FINANCIAL, INC. (RSSD 5930577)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, First State Bank of Michigan reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
First State Bank of Michigan's total assets moved between a low of $51.7M (Q3 2023) and a high of $87.8M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in 5 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$87.8M total assets against $62.3M; $72.9M total liabilities against $46.4M.
$63.2M net loans and leases against $29.3M; $71.6M total deposits against $46.2M.
$6.4M securities against $6.6M; $11.5M cash and balances due against $21.5M.
$1.2M total interest income against $860K; $406K total interest expense against $131K.
$757K net interest income against $729K.
$30K total noninterest income against $33K; $1.1M total noninterest expense against $893K.
$0 provision for credit losses against $62K.
-$275K net income against -$193K.
-1.29% return on assets against -1.25%; 3.85% net interest margin against 5.17%.
13.89% tier 1 leverage ratio against 21.15%.
Inside the full First State Bank of Michigan terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
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Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from -4.78% (Q3 2024) to 0.72% (Q4 2024) and its net interest margin ran from 3.17% (Q3 2024) to 5.17% (Q2 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 13.89% | -1.29% | 0.88% | 5.23% | 3.85% |
| Q1 2026 | 14.74% | -1.35% | 1.09% | 4.61% | 3.59% |
| Q4 2025 | 18.30% | -1.67% | 1.97% | 6.97% | 4.47% |
| Q3 2025 | 19.53% | -1.46% | 1.61% | 4.38% | 4.74% |
| Q2 2025 | 21.15% | -1.25% | 1.09% | 2.59% | 5.17% |
| Q1 2025 | 19.77% | -1.73% | 0.61% | 1.38% | 4.51% |
| Q4 2024 | 22.08% | 0.72% | 0.33% | 0.73% | — |
| Q3 2024 | 20.64% | -4.78% | 0.86% | 2.28% | 3.17% |
Swipe the table sideways to see every column.
Branch Network
View all 2 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First State Bank of Michigan (main office) | Decatur , MI | 49045 | $71.1M |
| Traverse City Branch | Traverse City , MI | 49684 | $496K |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in MI, rank 90 of 95 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 34 applications, 32 loans originated, $4.5M originated, across 1 states
- Period: Calendar year 2024. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $37K approved, $37K average. 100.00% of that year's loans have since been charged off
- Period: Federal fiscal year 1999 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Enforcement actions, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First State Bank of Michigan
What are First State Bank of Michigan's total assets?
As of the Q2 2026 filing, First State Bank of Michigan reported total assets of $87.8 million in its FFIEC call report.
Where is First State Bank of Michigan headquartered?
It is headquartered in Decatur, MI, United States.
When was First State Bank of Michigan founded?
It was established in 1870, per the FDIC institution directory.
Is First State Bank of Michigan FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #12893). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First State Bank of Michigan?
First State Bank of Michigan's primary federal regulator is the Federal Reserve.
How many branches does First State Bank of Michigan operate?
It operates 2 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First State Bank of Michigan's Texas Ratio?
Its Texas Ratio is 5.23% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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