The First National Bank of St. Ignace: how it compares with its peers
Against 34 MI banks with half to twice its assets, The First National Bank of St. Ignace's strongest measure in Q2 2026 is assets per employee ($5.6M vs. a $6.3M peer median). Its weakest relative measure is net interest margin (2.97% vs. 4.23%).
| Measure | This bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.63% | 1.25% | Bottom third Ahead of 15% of peers |
| Net interest margin Annualized net interest income over earning assets. | 2.97% | 4.23% | Bottom third Ahead of 6% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 74.96% | 64.10% | Bottom third Ahead of 24% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $5.6M | $6.3M | Middle third Ahead of 35% of peers |
| Loans to deposits Net loans and leases over total deposits. | 35.13% | 76.47% | Context |
What it means for lending operations
Its efficiency ratio of 74.96% is above the 64.10% 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
- Huron Community Bank East Tawas, MI · $323M
- Alden State Bank Alden, MI · $318M
- Dearborn Federal Savings Bank Dearborn, MI · $307M
- Upper Peninsula State Bank Escanaba, MI · $372M
- Huron Valley State Bank Milford, MI · $292M
- First National Bank & Trust Co. Iron Mountain, MI · $386M
Questions about The First National Bank of St. Ignace
How big is The First National Bank of St. Ignace?
The First National Bank of St. Ignace, established in 1888, is headquartered in St. Ignace, MI. It reported $336M in total assets in its Q2 2026 FDIC call report and operates 7 offices.
What is The First National Bank of St. Ignace's return on assets?
0.63% annualized in Q2 2026, against a 1.25% median for 34 MI banks with half to twice its assets, ahead of 15% of them.
What is The First National Bank of St. Ignace's efficiency ratio?
74.96% in Q2 2026: it spent about 75 cents in noninterest expense for each dollar of revenue. The peer median is 64.10%, and lower is better.
Is The First National Bank of St. Ignace growing its loans?
Net loans grew 7.2% over the year to Q2 2026, while deposits grew 3.0%.
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.