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Lender record

First State Bank of Michigan

The real lending record — every figure from funded deals. HQ: 124 S Phelps St, Decatur, MI. 2 branches.

1

Recent deals (FY20+)

$799K

Typical deal

—

Approval → funding

Where First State Bank of Michigan lends

Deal profile

Most First State Bank of Michigan deals land between $799K and $799K — that range covers half of everything they fund. Top industries and states:

Industries they fund most

1.Automotive Body, Paint, and Interior Repair and Maintenance (1)

Most active states

1.Michigan (1 deals)

Can First State Bank of Michigan fund you? The bank behind the loans

Total assets

$83.2M

▲ 3.3% vs prior quarter

Deposits on hand

$66.8M

▲ 3.1% vs prior quarter

Loans outstanding

$50.7M

▲ 16.7% vs prior quarter

Net income (latest qtr)

$-277K

•SBA is this bank's core business — this year's SBA production alone equals ~11.4% of its entire loan book. Expect a dedicated SBA desk, packaging help, and underwriters who do this all day. That makes First State Bank of Michigan more SBA-focused than 98% of the banks on our record.
•Deposits grew last quarter — more raw lending capacity than the quarter before.
•Return on assets of -1.35% — well under the ~1% mark generally considered strong for a bank. How any of this translates to your rate is a question for the loan officer — pricing is set deal by deal.

FDIC call-report data, quarter ending 03/2026.

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Tell us where to reach you and we'll arrange the introduction — to First State Bank of Michigan or a comparable SBA specialist who fits your deal even better.

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Walk into a First State Bank of Michigan branch (2)

First State Bank Of MichiganMain office124 S Phelps StDecatur, MI 49045 · since 1870

Traverse City Branch232 E State StTraverse City, MI 49684 · since 2026

Branch data: FDIC BankFind.

Recent deals

Tate's Auto Body, LLC in Traverse City, MI — $799K (2026) · purchase · Automotive Body, Paint, and Interior Repair and Maintenance
Program
7a General
Rate at approval
7.75% variable
Term
84 mo (7 yrs)
SBA guaranteed
$599K (75%)
Approved
3/31/2026
Loan status
Committed
Loan type
Term loan
Collateral
Required
Business type
Corporation
Jobs supported
11
Business age
Change of Ownership
Industry
Automotive Body, Paint, and Interior Repair and Maintenance
If you were the buyer here
Est. deal size
$888K
Est. down payment (10%)
$89K
Est. cash at closing
$122K
Monthly payment
$12,357
Annual debt service
$148K
Cash flow needed (1.25×)
$185K
Estimates only — not guaranteed accurate. The loan amount, rate,and term come from the public record; the rest assumes the standard 10% buyer injection plus typical guaranty and closing costs. The actual deal's terms and costs likely differed.
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Businesses First State Bank of Michigan financed

1 business on record. Each links to its full SBA record.

Tate's Auto Body, LLCTraverse City, MI · 1 loan$799K

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DealRoom analysis of public lending records, FY2020–present. Not affiliated with First State Bank of Michigan.

AI summary

First State Bank of Michigan is an SBA lender tracked by DealRoom.so SBA Intelligence, with lending activity broken down by state, industry, and loan size from public records. DealRoom is not a lender.

Source: DealRoom.so SBA Intelligence, based on public SBA, lender, franchise, FDIC, and related records. DealRoom is not a lender and does not guarantee financing.

Agent summary

This page summarizes First State Bank of Michigan's public SBA 7(a) lending record — deal sizes, industries, geography, and FDIC profile — from DealRoom.so SBA Intelligence. DealRoom is not a lender and does not originate or approve loans.

1 SBA 7(a) loans on record
$799K typical deal
1 business-acquisition loans
HQ: 124 S Phelps St, Decatur, MI
2 FDIC branch locations
FDIC total assets $83.2M

Next steps

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Data freshness:: SBA records through 2026-05-31; FDIC through 2026-03-31; page updated 2026-06-16.
Sources:: Public SBA 7(a) loan records; FDIC institution data (BankFind); DealRoom lender and franchise enrichment.
Canonical:: https://dealroom.so/lenders/first-state-bank-of-michigan
API:: https://dealroom.so/api/public/lenders/first-state-bank-of-michigan
Methodology:: Sources & methodology

Informational only — DealRoom does not confirm this entity is for sale, eligible for SBA financing, or approved by any lender.
Figures come from public records and DealRoom methodology; verify before relying on them.
Lender matches are informational and based on public lending activity — they do not guarantee lender interest or approval.

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I authorize DealRoom to share my contact information with SBA lending partners and loan brokers (including partners who compensate DealRoom), who may contact me about financing. DealRoom is not a lender and makes no credit decision.

Free · No obligation · Usually same-day

Get in touch with First State Bank of Michigan

Tell us where to reach you and we'll arrange the introduction — to First State Bank of Michigan or a comparable SBA specialist who fits your deal even better.

I authorize DealRoom to share my contact information with SBA lending partners and loan brokers (including partners who compensate DealRoom), who may contact me about financing. DealRoom is not a lender and makes no credit decision.