Bank · FDIC insured
State Savings Bank
A $431.2M bank headquartered in Frankfort, MI, with 8 branches in Michigan. Best rates: CDs 0.55% and savings 0.05% APY.
State Savings Bank Carrot Score
60
Carrot Score
Higher than 0% of U.S. banks and credit unions
#16 of 16 in Traverse City, MI metroHow the score works →
Deposits are federally insured by the FDIC up to $250,000 per depositor.
About State Savings Bank
Founded in 1896, State Savings Bank is a full-service community bank serving northwest Michigan.
It operates banking offices in Beulah, Empire, Frankfort, Gaylord, Suttons Bay, and Traverse City, along with loan centers in Big Rapids, Caro, and Houghton Lake.
- Headquarters
- 703 Main St, Frankfort, MI 49635
- FDIC certificate
- 8162 ↗
Branches
8 branches in Michigan
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Michigan
8 branches
Traverse City area · 6
- State Savings BankMain office703 Main St, Frankfort, MI 49635Directions
- Beulah Branch49 N Benzie Blvd, Beulah, MI 49617Directions
- Empire Branch11470 S Leelanau Hwy, Empire, MI 49630Directions
- Suttons Bay Branch212 N Saint Joseph St, Suttons Bay, MI 49682Directions
- Traverse City Banch414 E Front St, Traverse City, MI 49686Directions
- Traverse City Garfield Branch862 S. Garfield Avenue, Traverse City, MI 49686Directions
Gaylord area · 2
- Gaylord Branch126 E Main St, Gaylord, MI 49735Directions
- Gaylord South Office Branch2091 S Otsego Ave, Gaylord, MI 49735Directions
Walk-in offices from the FDIC directory as of September 4, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This bank | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalLeverage ratio | 8.79% | 10.98% | 13.00% or more |
| Troubled loansNoncurrent | 0.20% | 0.42% | 0.09% or less |
| ProfitabilityReturn on assets | 0.35% | 1.24% | 1.68% or more |
| LendingLoans per $100 deposited | $83 | $81 | — |
- CapitalLeverage ratio8.79%Peers’ middle 10.98% · Top 25% 13.00%+
- Troubled loansNoncurrent0.20%Peers’ middle 0.42% · Top 25% ≤0.09%
- ProfitabilityReturn on assets0.35%Peers’ middle 1.24% · Top 25% 1.68%+
- LendingLoans per $100 deposited$83Peers’ middle $81
Compared with the 2,650 banks with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are noncurrent: 90 or more days late, or no longer earning interest.
Regulators’ own ratings of State Savings Bank are confidential. These figures are what it reports to the FDIC each quarter, set beside its peers; they aren’t a rating.