Applications / Mortgage Analytics / Lenders / Michigan / State Savings Bank
Frankfort, MI · State non-member bank · FDIC · 174 loans in 2025
State Savings Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
174
loans originated, 2025
211
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
State Savings Bank, which first reported in 2024, is a Michigan purchase lender that makes larger loans than most similar banks, with Traverse City its strongest market.
Traverse City is its strongest market. It ranked 13 of 274 lenders there in 2025, and its share of lending, measured in dollars, rose to 2.0% from 1.5%. United Wholesale Mortgage and Lake Michigan Credit Union lead that market. Outside it, the bank ranked 69 of 606 in non-metro Michigan and made its first loans in Saginaw.
Its loans rose 9% to 174, close to the 10% growth of similar lenders, meaning state non-member banks making between half and twice as many loans, and of the whole market. It made more loans than about three in five of those peers. With only two years on record, there is no long run to judge.
Home purchases made up 66.1% of its loans and refinances 22.4%; nearly all were conventional. Its typical loan was $225,000, against $175,000 at similar lenders, higher than about seven in ten. Its share of loans to low- and moderate-income borrowers, 23.2%, was a little below the peers' 27.8%; a lender making larger loans may simply serve buyers with higher incomes.
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, 2024–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. State Savings Bank took 211 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 66.1% · Refinance 22.4% · Other 8.6% · Home improvement 2.9%
Conventional 98.9% · FHA 0.6% · VA 0.6% · of 174 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 | 174 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Traverse City | 74 |
| Grand Rapids-Wyoming-Kentwood | 4 |
| Warren-Troy-Farmington Hills | 2 |
| Saginaw | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 984500AEH02DE1S8E864 | 2024–2025 |
Established 1 January 1901. Reported under HMDA 2024-2025.
Mergers, name changes, data editions and corrections: State Savings Bank's data.
State Savings Bank's data
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State Savings 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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