PackageTrendsPeer
Letter portraitLegal landscape

First State Bank of Michigan

Decatur, MI · Cert 12893 · GTSB Financial Inc.

State charter, Fed member · FED · 2 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

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

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

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

Balance sheet: as filed at quarter end.

Peer group

Banks under $1B in assets operating in a single state (n=743 to 746). 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

63

Q2 2024Q2 2026peer median (50)

Asset Quality

66

Q2 2024Q2 2026peer median (50)

Profitability

15

Q2 2024Q2 2026peer median (50)

Liquidity

50

Q2 2024Q2 2026peer median

Efficiency

1

Q2 2024Q2 2026peer 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

First State Bank of Michigan

Decatur, MI · Cert 12893 · GTSB Financial Inc.

State charter, Fed member · FED · 2 branches

Q2 2026

$87.8MAssets
$63.8MLoans
$71.6MDeposits
$14.9MEquity
Loan mix
44%RE $22.1M53%C&I $26.7M4%Consumer $1.9MQ2 2025Q2 2026
Deposit mix
74%Interest-bearing $53.2M26%Noninterest $18.4MQ2 2025Q2 2026

NIM

4.15%Q2 ’245.30%Q2 ’255.26%Q2 ’26+44%-25%

Non-interest income vs. expense

3.15%Q2 ’245.83%Q2 ’254.70%Q2 ’26+94%-19%

Market Position · Traverse City, MI · 2026 SOD (annual) · 0.0% share · #13 of 13 inst. · $0.0B of $4.8B

9.6% Van Buren
0.0% Grand Traverse

Executive Summary

  • Earnings: ROA of -1.32%, up 17 bps year over year; NIM at 3.54%.
  • Asset quality: problem loans at 0.88% of loans (-22 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 13.89%, down 726 bps from a year ago.
  • Funding: loans stand at 89.16% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

-1.32%+17 bps YoY

Net Interest Margin (YTD, annualized)

3.54%-116 bps YoY

Efficiency Ratio (YTD, annualized)

128.47%+731 bps YoY

Tier 1 Leverage Ratio

13.89%-726 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets-1.48%-1.48%-1.48%-1.35%-1.32%+17 bps
Return on Equity-5.95%-6.00%-6.33%-7.23%-7.28%-133 bps
Net Interest Margin4.70%4.49%4.31%3.49%3.54%-116 bps
Efficiency Ratio121.15%120.87%119.92%126.37%128.47%+731 bps
Non-Interest Burden5.63%5.38%5.14%4.44%4.57%-107 bps
Growth
Asset Growth (YoY)15.88%20.95%35.04%30.61%40.97%+2,509 bps
Loan Growth (YoY)7.11%20.46%67.04%95.30%114.69%+10,759 bps
Deposit Growth (YoY)7.63%15.72%46.95%37.94%54.98%+4,735 bps
Asset Quality
Nonperforming Loans / Loans1.09%1.61%1.97%1.09%0.88%-22 bps
Net Charge-Offs / Loans0.09%0.05%0.03%0.00%0.00%-9 bps
Allowance / Loans1.34%1.31%1.23%1.19%0.95%-38 bps
Allowance Coverage of NPLs1.2x0.8x0.6x1.1x1.1x-0.1x
Capital
Tier 1 Leverage Ratio21.15%19.53%18.30%14.74%13.89%-726 bps
Total Risk-Based Capital21.15%19.53%18.30%14.74%13.89%-726 bps
Equity / Assets25.48%24.10%19.24%18.20%16.95%-852 bps
Liquidity & Funding
Loans / Deposits64.36%69.04%67.80%76.75%89.16%+2,480 bps
Liquid Assets / Assets32.31%28.58%29.72%22.32%11.80%-2,051 bps
CRE / Total Capitaln/a43.51%44.63%42.78%n/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

First State Bank of Michigan

Decatur, MI · Cert 12893 · Peer group: banks under $1B in assets operating in a single state (n=743-746) · GTSB Financial Inc.

State charter, Fed member · FED · 2 branches

Q2 2026

$87.8MAssets
$63.8MLoans
$71.6MDeposits
$14.9MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks under $1B in assets operating in a single state (rank 185 of 743).
  • Widest gap: efficiency ratio trails 99% of banks under $1B in assets operating in a single state (rank 738 of 746).
  • Overall: at or above the peer median on 3 of 9 directional measures.

Return on Assets

-1.26%

Rank 738 of 746

Net Interest Margin

3.54%

Rank 430 of 746

Efficiency Ratio

133.27%

Rank 738 of 746

Equity / Assets

16.95%

Rank 63 of 746

Non-interest income vs. expense

$0.1M$4.0MINCOMEEXPENSE
Unfavorable gap of $3.9M · efficiency ratio beats 1% of banks under $1B in assets operating in a single state
Bank 133.27%Peer median 64.6%Q2 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets-1.26%0.72%1.06%1.45%Beats 1%738 / 746
Return on Equity-7.42%6.74%10.51%13.63%Beats 1%738 / 746
Net Interest Margin3.54%3.17%3.68%4.16%Beats 42%430 / 746
Efficiency Ratio133.27%55.74%64.58%75.47%Beats 1%738 / 746
Asset Quality
Nonperforming Loans / Loans0.88%0.09%0.42%1.07%Beats 31%515 / 743
Net Charge-Offs / Loans0.00%0.00%0.01%0.05%Beats 100%185 / 743
Capital
Tier 1 Capital Ratio13.89%11.55%13.75%17.60%Beats 51%364 / 746
Total Risk-Based Capital Ratio13.89%11.71%14.33%18.43%Beats 46%404 / 746
Equity / Assets16.95%8.90%10.51%13.06%Beats 92%63 / 746
Liquidity & Funding
Loans / Deposits89.16%61.31%78.27%90.78%72nd pctl210 / 746
Loans / Assets72.71%53.60%66.97%76.08%65th pctl261 / 746
Brokered Deposits / Depositsn/aNot reported for this institution