First State Bank of Michigan
Decatur, MI·RSSD 654047·FDIC 12893·bank:654047·CBLR opted in
- #68 of 74Total assets in Michigan
- 2offices
- 20employees
- #10 of 3,986Loan growth in the U.S.
- Top 1%Deposit growth in the U.S.
Performance over time
23 available quarters · Gaps indicate missing data · Reported period-end total assets; consolidated for FFIEC 031.
Inside the balance sheet
FDIC reported categories · Shares of reported gross loans. Missing components are not treated as zero.
What stands out at First State Bank of Michigan
12 of 23 FORFI signals stand out against 583 similar banks, based on FDIC data for the quarter.
Funding pressure buildingWorth a look: Funding FORFI signal 2nd quarter2.35%peers 1.51%+85 bps
First State Bank of Michigan's cost of deposits has not eased the way it has at similar banks, while more of the funding base moved into higher-rate time deposits.
| This institution | Peer median | Difference |
|---|---|---|
| Cost of all deposits | ||
| 2.35% | 1.51% | +85 bps |
| Time deposits' share of deposits | ||
| 59.0% | 32.9% | +26.0 pp |
With internal data, FORFI would look at: Which depositors repriced or moved balances, which relationships are at risk of migrating, and where exception pricing is concentrated.
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile. How signals work
Margin squeezed by funding costsWorth a look: Earnings FORFI signal 2nd quarter3.90%peers 3.94%-4 bps
First State Bank of Michigan's net interest margin lagged similar banks as its cost of deposits failed to fall as quickly.
| This institution | Peer median | Difference |
|---|---|---|
| Net interest margin | ||
| 3.90% | 3.94% | -4 bps |
| Cost of all deposits | ||
| 2.35% | 1.51% | +85 bps |
With internal data, FORFI would look at: Which relationships and products carry the rates behind the gap, and where pricing has drifted.
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile. How signals work
Lending absorbing more of the deposit base as cash fallsWorth a look: Liquidity 2nd quarter89.2%+24.8 pp in 12 months
First State Bank of Michigan's loans rose to 89.2% of deposits, 24.8 percentage points higher than a year earlier, while cash fell to 13.2% of assets. The median change in the loan-to-deposit ratio among 535 similar banks was 0.0 pp.
| Observed | Change |
|---|---|
| Loans / deposits | |
| 89.2% | +24.8 pp in 12 months |
| Cash / assets | |
| 13.2% | -21.4 pp in 12 months |
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile. How signals work
Loans growing faster than peersStrength: Lending 2nd quarter+114.7%peers +2.6%+112.1 pp
First State Bank of Michigan's loans grew 114.7% over the past year to $63.8 million. The median among 518 similar banks was +2.6%.
| This institution | Peer median | Difference |
|---|---|---|
| Loans, 12-month growth | ||
| +114.7% | +2.6% | +112.1 pp |
| Loans | ||
| $63.8 million | ||
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile. How signals work
Total assets growing faster than peersStrength: Growth 2nd quarter+41.0%peers +3.2%+37.8 pp
First State Bank of Michigan's total assets grew 41.0% over the past year to $87.8 million. The median among 575 similar banks was +3.2%.
| This institution | Peer median | Difference |
|---|---|---|
| Total assets, 12-month growth | ||
| +41.0% | +3.2% | +37.8 pp |
| Total assets | ||
| $87.8 million | ||
FORFI flags a change when an institution sits in the outer tail of similar institutions and the gap is large enough to matter. Peers: 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile. How signals work
7 more observations
- Reliance on CDs rising faster than peersFunding
- Deposit costs rising while the peer median fallsFunding
- Net interest margin narrowing while the peer median widensEarnings
- Deposits growing faster than peersFunding
- Leverage capital ratio falling while the peer median risesCapital
- Noninterest-bearing deposit share rising faster than peersFunding
- Efficiency ratio rising while the peer median fallsEfficiency
Key facts
- First State Bank of Michigan is a bank headquartered in Decatur, Michigan. It reported $87.8 million in total assets for the quarter ended June 30, 2026.
- Deposits totaled $71.6 million, up 55.0% from a year earlier, and loans totaled $63.8 million, up 114.7%.
- Its net interest margin was 3.90% and its annualized return on assets was -1.29% for the quarter.
- Its cost of all deposits was 2.35%, compared with a median of 1.51% among 538 similar banks with under $100 million in assets.
Scorecard against peers
Capitalization
Liquidity & funding
Margin & yield
Income & expense
Asset quality
Charge-offs & allowance
Arrows show whether the value sits above or below the peer median. Colour shows whether that side is favourable for the measure: green favourable, red unfavourable, grey where neither side is (for example, a lower loan-to-core-deposit ratio is favourable, so a negative gap is green). Peer medians cover the same source, form, period, institution type and asset band, and count this institution in its own cohort. The peer line on every chart reads the same cohort. Regulatory definitions differ from FORFI quarterly estimates.
Watch items
Screening prompts computed from this filing only. Thresholds follow common review conventions and interagency concentration references; they are not supervisory ratings or predictions.
Public filings show what changed. Internal data shows why.
With First State Bank of Michigan's own data, FORFI would look at: Which depositors repriced or moved balances, which relationships are at risk of migrating, and where exception pricing is concentrated.
Analysis workspaces
Sources and identifiers
- Institution
- First State Bank of Michigan · Bank
- Federal Reserve RSSD
- 654047
- FDIC certificate
- 12893
- Reporting period
- Peer group
- 583 banks with under $100 million in assets that filed FDIC data for the same quarter. First State Bank of Michigan itself is left out of every peer median and percentile.
Figures are FORFI calculations from public regulatory filings, shown as reported. Signals are descriptive screening rules, not supervisory ratings, credit opinions or forecasts. Methodology
Income & calculation basis
FDIC · 2026-04-01 through 2026-06-30 · Annualization factor 4.010989 applies to ROA and margin only.
| Measure | FORFI calculation | FDIC published reference |
|---|---|---|
| -$275K | — | |
| $1.16M | — | |
| $406K | — | |
| $757K | — | |
| $30K | — | |
| $1.06M | — | |
| $0 | — | |
| $0 | — | |
| -1.29% | -1.29%ROAQ · Quarter | |
| 3.90% | 3.89%NIMYQ · Quarter | |
| 134.94% | 130.37%EEFFQR · adjusted · Quarter |
Credit-quality reconciliation · Source components agree. NALNLS (nonaccrual) + P9LNLS (90+ days accruing) = NCLNLS (noncurrent).
How to interpret differences
Flows cover the selected income window. Balance-sheet amounts, members and staffing are as of the filing date.
Published FDIC references use the regulator's own averaging, annualization and adjustments; the convention selector changes FORFI calculations only. Source-provided averages are used when available; endpoint fallbacks are labeled estimates.
Missing inputs remain unavailable. Credit-union margins use average assets and are not comparable with bank margins over earning assets.
AFS + HTM securities exclude deposits at other institutions. Broader investment totals may overlap cash; do not add them to cash without reconciling components.
Regulatory source definitionsFiling imported 2026-09-25T00:32:31.073937+00:00. Separate reference provenance is included in the export.