State Savings Bank (Frankfort, MI)
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Data as of · sourced from FFIEC call reports. How we update
State Savings Bank is an FDIC-insured commercial bank headquartered in Frankfort, MI, established in 1901 (FDIC certificate 8162), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $431.2M, up 5.3% from Q2 2025, the 39th largest of 72 banks headquartered in Michigan. It reports no CET1 ratio; its Tier 1 leverage ratio was 8.79% at Q2 2026, not above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 8162
- Headquarters
- Frankfort, MI
- Established
- 1901
- Total assets, Q2 2026
- $431.2M
- Assets vs Q2 2025
- +5.3%
- Tier 1 leverage ratio, Q2 2026
- 8.79%
- Domestic offices
- 9 FDIC institution directory, current count
- Routing number
- 072406506
- Holding company
- CENTRAL-STATE BANCORP, INC.
- Asset rank in state
- 39th of 72 in Michigan
State Savings Bank spends more to run itself than most banks of its size. Its balance sheet stood at $431 million at June 30, 2026, up 5.3% from a year earlier; it is based in Frankfort, Michigan. It earns about $0.26 a year on every $100 of assets, a small fraction of the median of $1.28 for the 2,660 banks with $100 million to $1 billion in assets. It also spends about 94 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 61 cents).
Net income for the quarter slipped 22% from a year earlier, to $270,000. Over the same year, loans grew 10.7% and deposits grew 5.4%. Where it has less room is capital: it funds 8.79% of its assets with Tier 1 capital, lower than about 9 in 10 banks its size (median 10.99%).
As of June 30, 2026, State Savings Bank reported a return on assets of 0.26%, a nonperforming-loan ratio of 0.20% and a Texas ratio of 1.68%. The figures come from its call report filed with the FFIEC.
By total assets at Q2 2026, State Savings Bank is the 39th largest of the 72 banks headquartered in Michigan. Quarter on quarter (Q1 2026 to Q2 2026), its total assets rose 6.6% to $431.2M, loans rose 4.4% and deposits rose 7.3%. The largest part of its loan book on June 30, 2026 was 1-4 family residential loans, at 40.6% of total loans, ahead of owner-occupied commercial real estate loans at 25.5%. The FDIC Summary of Deposits lists 8 offices for it, in 6 cities in MI; its Frankfort office books 34% of its branch deposits. On its Q2 2026 call report, State Savings Bank is inside the community bank leverage ratio grace band.
Headquarters Profile
- Address
- 703 Main St, Frankfort, MI 49635
- County
- Benzie
- Metro Area
- Traverse City, MI
- 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
- —
- Call Report form
- FFIEC 051
- Established
- January 1, 1901
- Domestic offices
- 9 FDIC institution directory, current count
- Employees (FTE)
- 132
- Domestic deposits
- $391.6M
- Allowance for credit losses
- $2.8M
- Net charge-offs (YTD)
- -$9K
- Average total assets
- $421.0M
- Average total loans
- $316.8M
- Average interest-bearing deposits
- $265.5M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 8162
- Fed RSSD
- 22543
- Website
- www.ssbankmi.com →
- Parent Holding Company
- CENTRAL-STATE BANCORP, INC. (RSSD 1245666)
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, State Savings Bank reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
State Savings Bank's total assets moved between a low of $351.6M (Q4 2023) and a high of $443.7M (Q3 2025) 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
$431.2M total assets against $409.5M; $394.2M total liabilities against $374.1M.
$323.6M net loans and leases against $292.2M; $391.6M total deposits against $371.7M.
$21.3M securities against $1.6M; $55.8M cash and balances due against $85.3M.
$6.0M total interest income against $5.5M; $1.4M total interest expense against $1.3M.
$4.7M net interest income against $4.3M.
$504K total noninterest income against $494K; $4.9M total noninterest expense against $4.3M.
-$26K provision for credit losses against $13K.
$270K net income against $346K.
0.26% return on assets against 0.36%; 4.76% net interest margin against 4.79%.
8.79% tier 1 leverage ratio against 9.19%.
Inside the full State Savings Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeState Savings Bank rankings
Its closest position to the top of a national ranking is 1,952 of 4,196, for total assets; its furthest is 3,519 of 3,606, for efficiency ratio.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.10% (Q1 2025) to 0.60% (Q4 2025) and its net interest margin ran from 4.49% (Q1 2025) to 4.84% (Q4 2025).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 8.79% | 0.26% | 0.20% | 1.68% | 4.76% |
| Q1 2026 | 9.02% | 0.45% | 0.52% | 4.11% | 4.71% |
| Q4 2025 | 8.64% | 0.60% | 0.62% | 4.90% | 4.84% |
| Q3 2025 | 8.52% | 0.45% | 0.46% | 3.54% | 4.61% |
| Q2 2025 | 9.19% | 0.36% | 0.28% | 2.14% | 4.79% |
| Q1 2025 | 9.47% | 0.10% | 0.20% | 1.51% | 4.49% |
| Q4 2024 | 9.14% | 0.23% | 0.21% | 1.55% | 4.77% |
| Q3 2024 | 9.19% | 0.46% | 0.24% | 1.83% | 4.61% |
Swipe the table sideways to see every column.
Branch Network
View all 8 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 |
|---|---|---|---|
| State Savings Bank (main office) | Frankfort , MI | 49635 | $132.1M |
| Beulah Branch | Beulah , MI | 49617 | $79.4M |
| Traverse City Garfield Branch | Traverse City , MI | 49686 | $48.3M |
| Traverse City Banch | Traverse City , MI | 49686 | $47.1M |
| Gaylord Branch | Gaylord , MI | 49735 | $30.5M |
| Empire Branch | Empire , MI | 49630 | $28.0M |
| Gaylord South Office Branch | Gaylord , MI | 49735 | $22.0M |
| Suttons Bay Branch | Suttons Bay , MI | 49682 | $4.4M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| October 1, 2018 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| October 1, 2018 | Structure Change | Acquired Central State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 0.1% of deposits in MI, rank 53 of 95 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 211 applications, 174 loans originated, $51.8M originated, across 1 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $708K approved, $708K 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 State Savings Bank
What are State Savings Bank's total assets?
As of the Q2 2026 filing, State Savings Bank reported total assets of $431.2 million in its FFIEC call report.
Where is State Savings Bank headquartered?
It is headquartered in Frankfort, MI, United States.
When was State Savings Bank founded?
It was established in 1901, per the FDIC institution directory.
Is State Savings Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #8162). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates State Savings Bank?
State Savings Bank's primary federal regulator is the FDIC.
How many branches does State Savings Bank operate?
It operates 9 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is State Savings Bank's Texas Ratio?
Its Texas Ratio is 1.68% 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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