First State Bank of Middlebury
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Data as of · sourced from FFIEC call reports. How we update
First State Bank of Middlebury is an FDIC-insured commercial bank headquartered in Middlebury, IN, established in 1910 (FDIC certificate 8745), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $836.2M, up 3.1% from Q2 2025, the 26th largest of 87 banks headquartered in Indiana. Its CET1 capital ratio was 16.45% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 8745
- Headquarters
- Middlebury, IN
- Established
- 1910
- Total assets, Q2 2026
- $836.2M
- Assets vs Q2 2025
- +3.1%
- CET1 ratio, Q2 2026
- 16.45%
- Domestic offices
- 6 FDIC institution directory, current count
- Routing number
- 071208297
- Latest call report
- Q2 2026, FFIEC 051 · First State Bank of Middlebury call report
- Holding company
- CRYSTAL VALLEY FINANCIAL CORPORATION
- Asset rank in state
- 26th of 87 in Indiana
Problem loans are rising at First State Bank of Middlebury. Based in Middlebury, Indiana, it had $836 million in assets at June 30, 2026, up 3.1% from a year earlier. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 1.55% of loans from 0.29% a year earlier. It lost 3.1% of its deposits over the year, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 4.0%). It also carries problem assets equal to 9.5% of the capital and reserves that would absorb them, 3.6 times the median of 2.6% for banks its size.
The commercial and industrial book ($100 million) is worsening: 6.93% of it is past due or on nonaccrual, up from 1.38% a year earlier. Loans and deposits moved in opposite directions: over the year loans rose 3.6% and deposits fell 3.1%.
As of June 30, 2026, First State Bank of Middlebury reported a CET1 capital ratio of 16.45%, a return on assets of 1.60%, a nonperforming-loan ratio of 1.55% and a Texas ratio of 9.47%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, First State Bank of Middlebury is the 26th largest of the 87 banks headquartered in Indiana. From Q1 2026 to Q2 2026, its total assets rose 3.0% to $836.2M, loans rose 2.7% and deposits rose 0.1%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 31.8% of total loans, followed by owner-occupied commercial real estate loans at 20.3%. Its 6 offices in the FDIC Summary of Deposits are in 4 cities in IN; its Middlebury office books 48% of its branch deposits. By the capital ratios in its Q2 2026 call report, First State Bank of Middlebury meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 111 South Main Street, Middlebury, IN 46540
- County
- Elkhart
- Metro Area
- Elkhart-Goshen, IN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- January 1, 1910
- Domestic offices
- 6 FDIC institution directory, current count
- Employees (FTE)
- 110
- Domestic deposits
- $651.3M
- Allowance for credit losses
- $10.9M
- Net charge-offs (YTD)
- -$15K
- Average total assets
- $841.2M
- Average total loans
- $648.2M
- Average interest-bearing deposits
- $535.8M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8745
- Fed RSSD
- 967046
- Website
- www.Bfirst.bank →
- Parent Holding Company
- CRYSTAL VALLEY FINANCIAL CORPORATION (RSSD 1210244)
Profitability
Q2 annualizedCapital & Liquidity
Balance 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. How we compute these figures
Quarterly trends
First State Bank of Middlebury's total assets moved between a low of $752.5M (Q3 2023) and a high of $836.2M (Q2 2026) from Q3 2023 to Q2 2026, and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$836.2M total assets against $811.3M; $739.1M total liabilities against $725.6M.
$648.0M net loans and leases against $628.1M; $651.3M total deposits against $672.0M.
$126.8M securities against $125.3M; $15.7M cash and balances due against $14.9M.
$11.6M total interest income against $11.5M; $3.3M total interest expense against $3.4M.
$8.3M net interest income against $8.1M.
$1.5M total noninterest income against $1.2M; $5.6M total noninterest expense against $5.1M.
$90K provision for credit losses against $203K.
$3.4M net income against $3.0M.
1.60% return on assets against 1.46%; 4.21% net interest margin against 4.18%.
16.45% CET1 capital ratio against 16.04%; 13.37% tier 1 leverage ratio against 12.78%.
Inside the full First State Bank of Middlebury terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Loans outstanding are at or above total deposits. The bank reports little borrowing or brokered funding, so the difference is carried mainly by equity and other liabilities. Worth watching if loan growth continues to outpace deposits. Industry heuristic, not a supervisory threshold.
First State Bank of Middlebury rankings
Its closest position to the top of a national ranking is 688 of 3,640, for Texas Ratio; its furthest is 1,461 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.70% (Q4 2025) to 1.60% (Q2 2026) and its net interest margin ran from 3.79% (Q3 2024) to 4.33% (Q4 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 16.45% | 1.60% | 1.55% | 9.47% | 4.21% |
| Q1 2026 | 16.54% | 1.52% | 1.62% | 10.02% | 4.10% |
| Q4 2025 | 16.34% | 0.70% | 1.70% | 10.50% | 4.33% |
| Q3 2025 | 16.40% | 1.58% | 0.38% | 2.46% | 4.14% |
| Q2 2025 | 16.04% | 1.46% | 0.29% | 2.00% | 4.18% |
| Q1 2025 | 15.99% | 1.29% | 0.28% | 1.93% | 3.86% |
| Q4 2024 | 16.17% | 1.42% | 0.13% | 0.93% | 3.84% |
| Q3 2024 | 15.92% | 1.39% | 0.20% | 1.36% | 3.79% |
Swipe the table sideways to see every column.
Branch Network
View all 6 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 Middlebury (main office) | Middlebury , IN | 46540 | $314.3M |
| Goshen Branch | Goshen , IN | 46526 | $162.1M |
| Riverwalk Branch | Elkhart , IN | 46516 | $81.6M |
| Cobblestone Crossing Branch | Elkhart , IN | 46516 | $43.5M |
| Eddy Street Office Branch | South Bend , IN | 46617 | $31.6M |
| Greencroft Branch | Goshen , IN | 46526 | $18.3M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.3% of deposits in IN, rank 45 of 129 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 331 applications, 179 loans originated, $53.7M originated, across 3 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 3 loans, $2.0M approved, $675K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (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 Middlebury
What are First State Bank of Middlebury's total assets?
As of the Q2 2026 filing, First State Bank of Middlebury reported total assets of $836.2 million in its FFIEC call report.
Where is First State Bank of Middlebury headquartered?
It is headquartered in Middlebury, IN, United States.
When was First State Bank of Middlebury founded?
It was established in 1910, per the FDIC institution directory.
Is First State Bank of Middlebury FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8745). 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 Middlebury?
First State Bank of Middlebury's primary federal regulator is the FDIC.
What is First State Bank of Middlebury's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 16.45% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does First State Bank of Middlebury operate?
It operates 6 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 Middlebury's Texas Ratio?
Its Texas Ratio is 9.47% 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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