1st State Bank
1st State Bank was founded in 2004 by local business professionals to serve the banking needs of businesses in the Great Lakes Bay Region. The bank offers a full range of business and personal banking services with a commitment to reinvesting deposits and profits back into the region, with total assets of approximately $474 million as of June 2024.
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (5 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
1st State Bank ranks #330 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of 1st State Bank’s 7(a) acquisition lending falls in the $0-$500K range: 4 loans, 80.0% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 4 | 80.0% | |
| $500K-$1M | 1 | 20.0% |
Industries with highest loan volume
Drinking Places (Alcoholic Beverages)
3
loans
$111K
avg. amount
Plumbing, Heating, and Air-Conditioning Contractors
1
loans
$711K
avg. amount
Supermarkets and Other Grocery Retailers (except Convenience Retailers)
1
loans
$376K
avg. amount
10-Year
0.0%
Percentile Ranking
0th percentile
1st State Bank’s median variable rate is + 1.50%, against a market median of Prime + 1.88%, 38 below market.
4 of the 5 loans in its trailing three-year book carried a fixed rate; the rest were variable.
This Lender
Market Average
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 1.50% |
over at time of loan origination
1st State Bank has originated 7(a) acquisition loans in 2 states, most actively in Michigan (4) and Georgia (1). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Michigan | 4 | 80.0% |
| Georgia | 1 | 20.0% |
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