Firstbank - West Michigan


302 West Main Street
Ionia, MI 48846
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.80% →
2-Year CD N.A. 0.80% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Firstbank - West Michigan is an FDIC insured institution located in Ionia, MI. It was founded in 1934 and has approximately $0.21 billion in assets.

FDIC Insured Yes
FDIC Certificate # 14471
Date Established 1934
Assets $ 206.50 million
Loans $ 114.02 million
Deposits $ 169.67 million
Capital $ 30.05 million

For a more detailed analysis of Firstbank - West Michigan's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 23, 2021

Your Current Location: California, CA 92111


Loan Rates - September 23, 2021

Your Current Location: California, CA 92111

There are currently no loan rates available for Firstbank - West Michigan

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

Featured - California 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Learn More
NMLS ID: 2890
License#: 413-0477
2.684% 2.625%
0.75 points
$1,932 fees
$1,005 Learn More

Featured - California Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Firstbank - West Michigan
To upload and update your bank's rates please register. It is free to register and add rates.


Firstbank - West Michigan 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:
San Diego,California

Firstbank - West Michigan Locations

Financial Details

Firstbank - West Michigan Ratio Analysis

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

Texas Ratio
Firstbank - West Michigan U.S. Bank Average
4.58% 5.29%

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, 2021, Firstbank - West Michigan had $447,000 in non-current loans and $1,047,000 in owned real estate. To cover these potential losses it had $30,049,000 in equity and $2,564,000 in loans loss reserves. That gives it a Texas Ratio of 4.58%.

Return on Equity
Firstbank - West Michigan U.S. Bank Average
2.47% 11.43%

Firstbank - West Michigan has a Return on Equity of 2.47% versus the BestCashCow average of 11.43%. 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.

Firstbank - West Michigan U.S. Bank Average
14.55% 11.51%

Firstbank - West Michigan has a Capitalization of 14.55% versus the BestCashCow average of 11.51. 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.

Firstbank - West Michigan Balance Sheet Analysis

As of December 31, 2012, Firstbank - West Michigan had assets of $206,501,000, loans of $114,015,000, and deposits of $169,665,000. 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, 2021
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 114.02 million
Loan loss allowance $ 2.56 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.05 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
Total deposits $ 169.67 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 206.50 million

Summary Income Statement

March 31, 2021
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Firstbank - West Michigan’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in Michigan, Firstbank - West Michigan has a significantly higher percent of Small Business 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 39.34
Credit Card Loans 0.01
Consumer Auto Loans 3.07
Small Business Loans 21.79
Construction and Development Loans 4.77
Commercial Real Estate 35.47
Commercial and Industrial Loans 12.02
Farm Loans 0.00

Frequently Asked Questions About Firstbank - West Michigan

Branches and Savings

Is Firstbank - West Michigan FDIC insured?

Yes. It is covered under FDIC Certificate #14471.

Why does Firstbank - West Michigan pay such low interest on savings accounts?

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

Why are Firstbank - West Michigan CD rates not competitive?

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

Is Firstbank - West Michigan a commercial bank?


Where are Firstbank - West Michigan locations?

See branch locations nearby.

Is Firstbank - West Michigan open on Saturdays?

Is Firstbank - West Michigan open on Sundays?

What time does Firstbank - West Michigan open?

What time does Firstbank - West Michigan close?

Are Firstbank - West Michigan ATMs Open 24/7?

Do Firstbank - West Michigan ATMs accept cash deposits?

Can Firstbank - West Michigan customers use other ATMs?

Do Firstbank - West Michigan branches have notaries?

Will Firstbank - West Michigan notarize my document?

What address for Firstbank - West Michigan should I put for incoming ACH transfers?

Will the Firstbank - West Michigan branch print checks?

Do Firstbank - West Michigan checks expire?

Does Firstbank - West Michigan require US citizenship to open account?

Can Firstbank - West Michigan close my account?

Does Firstbank - West Michigan Report to credit bureaus?

Does Firstbank - West Michigan Use Equifax?

What is Firstbank - West Michigan's ACH Routing Number?

What is Firstbank - West Michigan's SWIFT code?


Does Firstbank - West Michigan offer mortgages?

Compare mortgage rates here.

Does Firstbank - West Michigan offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Firstbank - West Michigan offer personal loans?

Compare personal loan rates here.

Does Firstbank - West Michigan offer student loans?

Will Firstbank - West Michigan cash a check?

Will Firstbank - West Michigan redeem a savings bond?

Does Firstbank - West Michigan cash savings bonds?

Will Firstbank - West Michigan cash money orders?

Can Firstbank - West Michigan issue a money order?

Does Firstbank - West Michigan do currency exchange?

Background on The Bank

Who owns Firstbank - West Michigan?

How long has Firstbank - West Michigan been around?

Can Firstbank - West Michigan transfer to other banks?

Does Firstbank - West Michigan have quick pay?

Does Firstbank - West Michigan accept rolled coins?

Will Firstbank - West Michigan accept loose change?

Where is Firstbank - West Michigan headquarters?

Customer Reviews for Firstbank - West Michigan

There are currently no comments for Firstbank - West Michigan. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →