Charlevoix State Bank

Headquarters

111 State Street
Charlevoix, MI 49720
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.91% →
1-Year CD 0.30% 0.85% →
2-Year CD 0.50% 0.95% →
5-Year CD 1.00% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Charlevoix State Bank is an FDIC insured institution located in Charlevoix, MI. It was founded in 1994 and has approximately $0.2 billion in assets. Customers can open an account at one of its 6 branches.

FDIC Insured Yes
FDIC Certificate # 33926
Date Established 1994
Assets $ 195.77 million
Loans $ 117.78 million
Deposits $ 175.76 million
Capital $ 18.68 million
 

For a more detailed analysis of Charlevoix State Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - December 2, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.20% $10,000 $14,999 Learn More
3 Mo CD
0.20% $100,000 $199,999 Learn More
6 Mo CD
0.20% $10,000 $14,999 Learn More
6 Mo CD
0.20% $100,000 $199,999 Learn More
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
18 Mo CD
0.35% $10,000 $14,999 Learn More
18 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.50% $10,000 $14,999 Learn More
24 Mo CD
0.50% $100,000 $199,999 Learn More
36 Mo CD
0.60% $10,000 $14,999 Learn More
36 Mo CD
0.60% $100,000 $199,999 Learn More
48 Mo CD
0.75% $10,000 $14,999 Learn More
48 Mo CD
0.75% $100,000 $199,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More
60 Mo CD
1.00% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 $99 Learn MoreShow Less
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - December 2, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Charlevoix State Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.560% 2.500% 0.75 $1,980 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Charlevoix State Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Charlevoix State Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Charlevoix State Bank Locations


Financial Details

Charlevoix State Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Charlevoix State Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Charlevoix State Bank U.S. Bank Average
4.47% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Charlevoix State Bank had $763,000 in non-current loans and $125,000 in owned real estate. To cover these potential losses it had $18,678,000 in equity and $1,193,000 in loans loss reserves. That gives it a Texas Ratio of 4.47%.

Return on Equity
Charlevoix State Bank U.S. Bank Average
18.09% 7.80%

Charlevoix State Bank has a Return on Equity of 18.09% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Charlevoix State Bank U.S. Bank Average
9.54% 12.68%

Charlevoix State Bank has a Capitalization of 9.54% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Charlevoix State Bank Balance Sheet Analysis

As of March 31, 2020, Charlevoix State Bank had assets of $195,768,000, loans of $117,781,000, and deposits of $175,762,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 31.15 million
Interest-bearing balances $ 16.68 million
Total securities $ 36.15 million
Federal funds sold and reverse repurchase $ 2.05 million
Net loans and leases $ 117.78 million
Loan loss allowance $ 1.19 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.13 million
Goodwill and other intangibles N.A.
All other assets $ 5.82 million
     Total Assets $ 177.09 million
LIABILITIES
Total deposits $ 175.76 million
      Interest-bearing deposits $ 118.53 million
      Deposits held in domestic offices $ 175.76 million
      % insured (estimated) 74.30%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.33 million
      Total Liabilities $ 177.09 million
      Shareholders’ Equity $ 18.68 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.87 million
Total Interest Expense $ 0.10 million
Net interest income $ 1.77 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.45 million
Total non interest expense $ 1.40 million
Pre-tax Net Operating Income $ 0.83 million

Bank Loan Profile?

The top three loan types in Charlevoix State Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in Michigan, Charlevoix State Bank has a significantly higher percent of Credit Card Loans, Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 40.46
Multifamily
Mortgages
1.87
Credit Card Loans 0.42
Consumer Auto Loans 1.64
Small Business Loans 0.00
Construction and Development Loans 10.41
Commercial Real Estate 30.43
Commercial and Industrial Loans 10.97
Farm Loans 0.04

Frequently Asked Questions About Charlevoix State Bank

Branches and Savings

Is Charlevoix State Bank FDIC insured?

Yes. It is covered under FDIC Certificate #33926.

Why does Charlevoix State Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Charlevoix State Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Charlevoix State Bank a commercial bank?

Yes

Where are Charlevoix State Bank locations?

See branch locations nearby.

Is Charlevoix State Bank open on Saturdays?

Is Charlevoix State Bank open on Sundays?

What time does Charlevoix State Bank open?

What time does Charlevoix State Bank close?

Are Charlevoix State Bank ATMs Open 24/7?

Do Charlevoix State Bank ATMs accept cash deposits?

Can Charlevoix State Bank customers use other ATMs?

Do Charlevoix State Bank branches have notaries?

Will Charlevoix State Bank notarize my document?

What address for Charlevoix State Bank should I put for incoming ACH transfers?

Will the Charlevoix State Bank branch print checks?

Do Charlevoix State Bank checks expire?

Does Charlevoix State Bank require US citizenship to open account?

Can Charlevoix State Bank close my account?

Does Charlevoix State Bank Report to credit bureaus?

Does Charlevoix State Bank Use Equifax?

What is Charlevoix State Bank's ACH Routing Number?

What is Charlevoix State Bank's SWIFT code?

Products

Does Charlevoix State Bank offer mortgages?

Compare mortgage rates here.

Does Charlevoix State Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Charlevoix State Bank offer personal loans?

Compare personal loan rates here.

Does Charlevoix State Bank offer student loans?

Will Charlevoix State Bank cash a check?

Will Charlevoix State Bank redeem a savings bond?

Does Charlevoix State Bank cash savings bonds?

Will Charlevoix State Bank cash money orders?

Can Charlevoix State Bank issue a money order?

Does Charlevoix State Bank do currency exchange?

Background on The Bank

Who owns Charlevoix State Bank?

How long has Charlevoix State Bank been around?

Can Charlevoix State Bank transfer to other banks?

Does Charlevoix State Bank have quick pay?

Does Charlevoix State Bank accept rolled coins?

Will Charlevoix State Bank accept loose change?

Where is Charlevoix State Bank headquarters?

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