State Savings Bank: how it compares with its peers
Against 30 MI banks with half to twice its assets, State Savings Bank's strongest measure in Q2 2026 is net interest margin (4.80% vs. a 4.18% peer median). Its weakest relative measure is assets per employee ($3.3M vs. $6.2M).
| Measure | State Savings Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.35% | 1.35% | Bottom third Ahead of 3% of peers |
| Net interest margin Annualized net interest income over earning assets. | 4.80% | 4.18% | Top third Ahead of 83% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 90.77% | 62.91% | Bottom third Ahead of 3% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $3.3M | $6.2M | Bottom third Ahead of 0% of peers |
| Loans to deposits Net loans and leases over total deposits. | 82.63% | 73.94% | Context |
What it means for lending operations
Its efficiency ratio of 90.77% is above the 62.91% 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
- Honor Bank Honor, MI · $443M
- Chelsea State Bank Chelsea, MI · $417M
- First Community Bank Harbor Springs, MI · $414M
- The Shelby State Bank Shelby, MI · $397M
- Union Bank Grand Rapids, MI · $397M
- Lake-Osceola State Bank Baldwin, MI · $469M
Questions about State Savings Bank
How big is State Savings Bank?
State Savings Bank, established in 1901, is headquartered in Frankfort, MI. It reported $431M in total assets in its Q2 2026 FDIC call report and operates 9 offices.
What is State Savings Bank's return on assets?
0.35% annualized in Q2 2026, against a 1.35% median for 30 MI banks with half to twice its assets, ahead of 3% of them.
What is State Savings Bank's efficiency ratio?
90.77% in Q2 2026: it spent about 91 cents in noninterest expense for each dollar of revenue. The peer median is 62.91%, and lower is better.
Is State Savings Bank growing its loans?
Net loans grew 10.7% over the year to Q2 2026, while deposits grew 5.4%.
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.