Chelsea State Bank: how it compares with its peers
Against 30 MI banks with half to twice its assets, Chelsea State Bank's strongest measure in Q2 2026 is assets per employee ($6.6M vs. a $6.2M peer median). Its weakest relative measure is net interest margin (4.14% vs. 4.27%).
| Measure | Chelsea State Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.57% | 1.35% | Middle third Ahead of 63% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.14% | 4.27% | Middle third Ahead of 43% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 63.02% | 62.41% | Middle third Ahead of 47% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $6.6M | $6.2M | Top third Ahead of 73% of peers |
| Loans to deposits Net loans and leases over total deposits. | 68.96% | 75.38% | Context |
What it means for lending operations
Its efficiency ratio of 63.02% is above the 62.41% 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
- First Community Bank Harbor Springs, MI · $414M
- State Savings Bank Frankfort, MI · $431M
- The Shelby State Bank Shelby, MI · $397M
- Union Bank Grand Rapids, MI · $397M
- Honor Bank Honor, MI · $443M
- First National Bank & Trust Co. Iron Mountain, MI · $386M
Questions about Chelsea State Bank
How big is Chelsea State Bank?
Chelsea State Bank, established in 1897, is headquartered in Chelsea, MI. It reported $417M in total assets in its Q2 2026 FDIC call report and operates 4 offices.
What is Chelsea State Bank's return on assets?
1.57% annualized in Q2 2026, against a 1.35% median for 30 MI banks with half to twice its assets, ahead of 63% of them.
What is Chelsea State Bank's efficiency ratio?
63.02% in Q2 2026: it spent about 63 cents in noninterest expense for each dollar of revenue. The peer median is 62.41%, and lower is better.
Is Chelsea State Bank growing its loans?
Net loans shrank 1.6% over the year to Q2 2026, while deposits grew 2.4%.
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.