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State Bank, The

Fenton, MI · Cert 11406

FDIC · 20 branches

Q4 2024

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating in a single state3

Basis

Quarter: Q4 2024, the quarter ended December 31, 2024, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets operating in a single state (n=280 to 281). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

38

Q2 2024Q4 2024peer median (50)

Asset Quality

25

Q2 2024Q4 2024peer median (50)

Profitability

37

Q2 2024Q4 2024peer median (50)

Liquidity

44

Q2 2024Q4 2024peer median

Efficiency

38

Q2 2024Q4 2024peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

State Bank, The

Fenton, MI · Cert 11406

FDIC · 20 branches

Q4 2024

$1.8BAssets
$1.4BLoans
$1.5BDeposits
$166.6MEquity
Loan mix
88%RE $801.8M11%C&I $102.5M0%Consumer $3.0MQ4 2023Q4 2024
Deposit mix
71%Interest-bearing $1.0B29%Noninterest $0.4BQ4 2023Q4 2024

NIM

3.59%Q4 ’224.55%Q4 ’234.76%Q4 ’24-6%-11%

Non-interest income vs. expense

2.42%Q4 ’222.36%Q4 ’232.26%Q4 ’24+1%-4%

Market Position · Flint, MI · 2024 SOD (annual) · 15.6% share · #3 of 9 inst. · $0.9B of $5.6B

15.6% Genesee
8.8% Saginaw
0.2% Oakland
1.5% Livingston

Executive Summary

  • Earnings: ROA of 0.72%, down 27 bps year over year; NIM at 2.72%.
  • Asset quality: problem loans at 0.75% of loans (+38 bps YoY), with net charge-offs at 0.18%.
  • Capital: tier 1 leverage ratio of 9.03%, up 9 bps from a year ago.
  • Funding: loans stand at 97.84% of deposits as of Q4 2024.

Financial Results

Return on Assets (YTD, annualized)

0.72%-27 bps YoY

Net Interest Margin (YTD, annualized)

2.72%-33 bps YoY

Efficiency Ratio (YTD, annualized)

70.09%+446 bps YoY

Tier 1 Leverage Ratio

9.03%+9 bps YoY

Year to date, annualized, through each quarter.

MetricQ4 2023Q1 2024Q2 2024Q3 2024Q4 2024YoY ΔTrend
Earnings
Return on Assets0.99%0.78%0.68%0.61%0.72%-27 bps
Return on Equity11.53%8.76%7.54%6.73%7.94%-360 bps
Net Interest Margin3.06%2.85%2.82%2.76%2.72%-33 bps
Efficiency Ratio65.62%71.54%72.20%72.80%70.09%+446 bps
Non-Interest Burden1.83%1.88%1.88%1.87%1.76%-7 bps
Growth
Asset Growth (YoY)2.94%0.89%2.20%3.57%3.99%+104 bps
Loan Growth (YoY)2.61%0.31%-0.75%-2.73%-2.46%-507 bps
Deposit Growth (YoY)4.64%6.27%3.44%4.89%5.37%+72 bps
Asset Quality
Nonperforming Loans / Loans0.38%0.39%0.66%0.71%0.75%+38 bps
Net Charge-Offs / Loans-0.04%0.02%0.12%0.25%0.18%+22 bps
Allowance / Loans1.04%1.05%1.05%1.02%1.00%-4 bps
Allowance Coverage of NPLs2.8x2.7x1.6x1.4x1.3x-1.4x
Capital
Tier 1 Leverage Ratio8.94%8.94%9.06%9.02%9.03%+9 bps
Total Risk-Based Capital12.13%12.47%12.57%12.78%13.13%+101 bps
Equity / Assets8.93%8.94%9.09%9.10%9.22%+29 bps
Liquidity & Funding
Loans / Deposits105.69%101.64%102.45%98.20%97.84%-785 bps
Liquid Assets / Assets3.69%6.22%5.49%9.11%10.28%+659 bps
CRE / Total Capitaln/an/an/an/an/an/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

State Bank, The

Fenton, MI · Cert 11406 · Peer group: banks $1B-$10B in assets operating in a single state (n=280-281)

FDIC · 20 branches

Q4 2024

$1.8BAssets
$1.4BLoans
$1.5BDeposits
$166.6MEquity

Executive Summary

  • Strongest standing: equity / assets outperforms 42% of banks $1B-$10B in assets operating in a single state (rank 162 of 281).
  • Widest gap: net charge-offs / loans trails 77% of banks $1B-$10B in assets operating in a single state (rank 218 of 281).
  • Overall: at or above the peer median on 0 of 9 directional measures.

Return on Assets

0.71%

Rank 184 of 281

Net Interest Margin

2.72%

Rank 177 of 281

Efficiency Ratio

70.39%

Rank 175 of 281

Equity / Assets

9.22%

Rank 162 of 281

Non-interest income vs. expense

$9.1M$41.6MINCOMEEXPENSE
Unfavorable gap of $32.5M · efficiency ratio beats 38% of banks $1B-$10B in assets operating in a single state
Bank 70.39%Peer median 66.6%Q2 2024Q4 2024Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.71%0.56%0.90%1.25%Beats 35%184 / 281
Return on Equity7.66%6.02%9.54%12.57%Beats 38%173 / 280
Net Interest Margin2.72%2.56%2.92%3.42%Beats 37%177 / 281
Efficiency Ratio70.39%57.29%66.60%75.94%Beats 38%175 / 281
Asset Quality
Nonperforming Loans / Loans0.75%0.14%0.36%0.76%Beats 26%210 / 281
Net Charge-Offs / Loans0.19%0.01%0.05%0.16%Beats 23%218 / 281
Capital
Tier 1 Capital Ratio12.08%11.44%13.17%15.12%Beats 35%183 / 281
Total Risk-Based Capital Ratio13.13%12.18%14.01%16.01%Beats 36%179 / 281
Equity / Assets9.22%8.36%9.62%11.13%Beats 42%162 / 281
Liquidity & Funding
Loans / Deposits97.84%73.71%85.86%95.66%78th pctl61 / 281
Loans / Assets79.59%63.83%71.78%79.09%77th pctl64 / 281
Brokered Deposits / Depositsn/aNot reported for this institution