First State Bank of Michigan: how it compares with its peers
Against 15 MI banks with half to twice its assets, First State Bank of Michigan's strongest measure in Q2 2026 is assets per employee ($4.4M vs. a $4.4M peer median). Its weakest relative measure is return on assets (-1.32% vs. 1.05%).
| Measure | First State Bank of Michigan | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | -1.32% | 1.05% | Bottom third Ahead of 7% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.77% | 4.31% | Bottom third Ahead of 27% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 128.47% | 70.92% | Bottom third Ahead of 7% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $4.4M | $4.4M | Middle third Ahead of 50% of peers |
| Loans to deposits Net loans and leases over total deposits. | 88.31% | 73.28% | Context |
What it means for lending operations
Its efficiency ratio of 128.47% is above the 70.92% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Mayville State Bank Mayville, MI · $95M
- Huron State Bank Rogers City, MI · $95M
- Homestead Savings Bank Albion, MI · $72M
- JPMorgan Chase Bank, Dearborn Dearborn, MI · $71M
- Community Unity Bank Birmingham, MI · $107M
- The Port Austin State Bank Port Austin, MI · $68M
Questions about First State Bank of Michigan
How big is First State Bank of Michigan?
First State Bank of Michigan, established in 1870, is headquartered in Decatur, MI. It reported $88M in total assets in its Q2 2026 FDIC call report and operates 2 offices.
What is First State Bank of Michigan's return on assets?
-1.32% annualized in Q2 2026, against a 1.05% median for 15 MI banks with half to twice its assets, ahead of 7% of them.
What is First State Bank of Michigan's efficiency ratio?
128.47% in Q2 2026: it spent about 128 cents in noninterest expense for each dollar of revenue. The peer median is 70.92%, and lower is better.
Is First State Bank of Michigan growing its loans?
Net loans grew 115.5% over the year to Q2 2026, while deposits grew 55.0%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are MI banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Michigan bank ranked.