The Garrett State Bank
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Data as of · sourced from FFIEC call reports. How we update
The Garrett State Bank is an FDIC-insured commercial bank headquartered in Garrett, IN, established in 1893 (FDIC certificate 8074), and it is supervised by the Federal Reserve. At Q2 2026 it reported total assets of $399.7M, up 4.0% from Q2 2025, the 50th largest of 87 banks headquartered in Indiana. Its CET1 capital ratio was 17.89% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- Federal Reserve
- Deposit insurance
- FDIC
- FDIC certificate
- 8074
- Headquarters
- Garrett, IN
- Established
- 1893
- Total assets, Q2 2026
- $399.7M
- Assets vs Q2 2025
- +4.0%
- CET1 ratio, Q2 2026
- 17.89%
- Domestic offices
- 4 FDIC institution directory, current count
- Routing number
- 074903803
- Holding company
- G.S.B. FINANCIAL CORPORATION
- Asset rank in state
- 50th of 87 in Indiana
Problem loans are rising at The Garrett State Bank. Its balance sheet stood at $400 million at June 30, 2026, up 4.0% from a year earlier; it is based in Garrett, Indiana. Loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.85% of loans from 0.27% a year earlier. It spends about 43 cents to bring in each dollar of revenue, lower than about 9 in 10 of the 2,660 banks with $100 million to $1 billion in assets (median 61 cents). It also returns 19.6% a year on shareholders' equity, higher than about three-quarters of banks its size (median 12.5%).
Net income for the quarter rose 27% from a year earlier, to $1.9 million.
As of June 30, 2026, The Garrett State Bank reported a CET1 capital ratio of 17.89%, a return on assets of 1.99%, a nonperforming-loan ratio of 0.85% and a Texas ratio of 5.79%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, The Garrett State Bank is the 50th largest of the 87 banks headquartered in Indiana. From Q1 2026 to Q2 2026, its total assets rose 5.6% to $399.7M, loans rose 2.5% and deposits rose 6.4%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 73.6% of total loans, ahead of construction and land development loans at 7.0%. Its 4 offices in the FDIC Summary of Deposits are in Garrett, IN, Fort Wayne, IN and Ashley, IN; its Garrett 2 offices book 58% of its branch deposits. On its Q2 2026 call report, The Garrett State Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 120 W King St, Garrett, IN 46738
- County
- Dekalb
- Metro Area
- Auburn, IN
- 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
- Full trust powers granted
- Call Report form
- FFIEC 051
- Established
- November 1, 1893
- Domestic offices
- 4 FDIC institution directory, current count
- Employees (FTE)
- 37
- Domestic deposits
- $339.4M
- Allowance for credit losses
- $2.9M
- Net charge-offs (YTD)
- $34K
- Average total assets
- $388.2M
- Average total loans
- $288.0M
- Average interest-bearing deposits
- $260.8M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8074
- Fed RSSD
- 465243
- SEC CIK
- 1467889 → filed by G.S.B. FINANCIAL CORPORATION
- Website
- www.garrettstatebank.com →
- Parent Holding Company
- G.S.B. FINANCIAL CORPORATION (RSSD 1210011)
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
Over the 12 quarters to Q2 2026, The Garrett State Bank's total assets ran between $324.6M (Q3 2023) and $399.7M (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
$399.7M total assets against $384.4M; $359.7M total liabilities against $348.2M.
$289.1M net loans and leases against $278.2M; $339.4M total deposits against $322.4M.
$69.1M securities against $51.3M; $35.4M cash and balances due against $48.9M.
$5.1M total interest income against $4.7M; $1.8M total interest expense against $1.8M.
$3.3M net interest income against $2.9M.
$193K total noninterest income against $198K; $1.5M total noninterest expense against $1.5M.
$49K provision for credit losses against $64K.
$1.9M net income against $1.5M.
1.99% return on assets against 1.67%; 3.48% net interest margin against 3.23%.
17.89% CET1 capital ratio against 18.41%; 10.47% tier 1 leverage ratio against 10.32%.
Inside the full The Garrett State Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeThe Garrett State Bank rankings
Its closest position to the top of a national ranking is 328 of 3,606, for efficiency ratio; its furthest is 2,049 of 4,196, for total assets.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 1.19% (Q4 2024) to 1.99% (Q2 2026) and its net interest margin ran from 3.09% (Q3 2024) to 3.48% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 17.89% | 1.99% | 0.85% | 5.79% | 3.48% |
| Q1 2026 | 18.15% | 1.94% | 0.64% | 4.34% | 3.38% |
| Q4 2025 | 18.11% | 1.53% | 0.51% | 3.46% | 3.27% |
| Q3 2025 | 18.09% | 1.57% | 0.25% | 1.75% | 3.26% |
| Q2 2025 | 18.41% | 1.67% | 0.27% | 1.95% | 3.23% |
| Q1 2025 | 18.04% | 1.51% | 0.33% | 2.38% | 3.14% |
| Q4 2024 | 18.01% | 1.19% | 0.12% | 0.92% | 3.11% |
| Q3 2024 | 18.13% | 1.49% | 0.14% | 1.02% | 3.09% |
Swipe the table sideways to see every column.
Branch Network
View all 4 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 |
|---|---|---|---|
| The Garrett State Bank | Garrett , IN | 46738 | $157.7M |
| Pine Valley Branch | Fort Wayne , IN | 46845 | $118.1M |
| South Branch | Garrett , IN | 46738 | $39.9M |
| Ashley Branch | Ashley , IN | 46705 | $23.8M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.2% of deposits in IN, rank 69 of 129 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 210 applications, 169 loans originated, $28.8M originated, across 1 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $50K approved, $50K average. 100.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2012 (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 The Garrett State Bank
What are The Garrett State Bank's total assets?
As of the Q2 2026 filing, The Garrett State Bank reported total assets of $399.7 million in its FFIEC call report.
Where is The Garrett State Bank headquartered?
It is headquartered in Garrett, IN, United States.
When was The Garrett State Bank founded?
It was established in 1893, per the FDIC institution directory.
Is The Garrett State Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8074). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates The Garrett State Bank?
The Garrett State Bank's primary federal regulator is the Federal Reserve.
What is The Garrett State Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 17.89% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does The Garrett State Bank operate?
It operates 4 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is The Garrett State Bank's Texas Ratio?
Its Texas Ratio is 5.79% 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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