Applications / Mortgage Analytics / Lenders / Michigan / 1st State Bank
Saginaw, MI · State non-member bank · FDIC · $480 million assets · 123 loans in 2025
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123
loans originated, 2025
147
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
1st State Bank, of Saginaw, Michigan, made fewer loans in 2025 but lent about twice as much money, and it climbed to second place in Bay City.
In Bay City it ranked 2 of 172 lenders, with 7.6% of the market, up from 2.6%; only Rocket Mortgage lent more. Shares are measured in dollars, so a few large loans may account for much of that jump. In Saginaw it ranked 13 of 212, with an unchanged 1.8%. It has lent in both since 2006.
It made 123 loans, 13% fewer than in 2024, while similar lenders (state non-member banks making between half and twice as many loans) grew 9% and the whole market 10%. Yet its loans came to $50.6 million, about double the $25.1 million of 2024, though its typical loan rose only from $135,000 to $155,000. A few unusually large loans could explain the gap. Its count has fallen every year since 2020, when it made 558.
Home purchases made up 75.6% of its loans and refinances 17.9%, all conventional. Jumbo loans (larger than the conforming limit) were 2.0%, against 1.5% at similar lenders.
Low- and moderate-income (LMI) neighborhoods took 26.2% of its loans, against 17.6% at similar lenders. Majority-minority neighborhoods took 9.8%, against 6.1%. Borrowers with low or moderate incomes took 30.0%, close to the 27.9% at its peers.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. 1st State Bank took 147 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 75.6% · Refinance 17.9% · Other 4.1% · Home improvement 2.4%
Conventional 100.0% · of 123 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Michigan | 121 | 98.4% |
| Ohio | 1 | 0.8% |
| Tennessee | 1 | 0.8% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Saginaw | 41 |
| Bay City | 36 |
| Midland | 17 |
| Traverse City | 3 |
| Warren-Troy-Farmington Hills | 3 |
| Detroit-Dearborn-Livonia | 2 |
| Flint | 2 |
| Lansing-East Lansing | 2 |
| Battle Creek | 1 |
| Cleveland | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900N51OM1EJ4TQZ22 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3223305 | 2006–2022 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3223293 | 2023–2023 |
| Respondent ID (the HMDA filer code before 2018) | 357626 | 2006–2017 |
Established 12 April 2004. Reported under HMDA 2006-2025.
Mergers, name changes, data editions and corrections: 1st State Bank's data.
1st State Bank's data
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1st State Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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