Sturgis Bank & Trust Company
Sturgis, Michigan, St. Joseph County
$1.0B in total assets, the 1,045th largest of 4,309 US banks and 18th of 74 headquartered in Michigan.
- FDIC certificate
- 28593
- Established
- 1905
- Owned by
- Sturgis Bcorp Inc
- Primary regulator
- FDIC
- Website
- www.sturgis.bank
At a glance
Compared with 17 banks headquartered in Michigan with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.0B | 2% | $1.7B | |
| Loans | $769M | 6% | $1.3B | |
| Deposits | $893M | 12% | $1.4B | |
| Return on assets | 1.02% | 18% | 1.30% | |
| Net interest margin | 3.86% | 59% | 3.79% | |
| Efficiency ratio | 73.5% | 88% | 61.5% | |
| Equity to assets | 8.15% | 12% | 9.41% | |
| Loans to deposits | 86% | 12% | 94% |
Growth
Total assets grew 7.8% a year over the last 5 years and 10.4% a year over 10 years, without acquisitions.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Apr 2015 | The West Michigan Savings Bank Bangor, MI | $36M |
Where they operate
17 branches in 6 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| St. Joseph County, MI | $359M | 34.6% | 1 of 8 |
| Berrien County, MI | $267M | 11.9% | 4 of 8 |
| Van Buren County, MI | $145M | 19.5% | 2 of 7 |
| Kalamazoo County, MI | $69M | 1.5% | 12 of 13 |
| Branch County, MI | $31M | 3.1% | 6 of 6 |
| Calhoun County, MI | $22M | 1.6% | 10 of 10 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 5 branches since 2016 (12 to 17, +41.7%). 6 opened, 0 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 12 | |||
| 2018 | Closed Sturgis | 0 | 1 | −1 | 11 |
| 2020 | Opened Portage and Saint Joseph | 2 | 0 | +2 | 13 |
| 2021 | Opened Saint Joseph | 1 | 0 | +1 | 14 |
| 2022 | Opened Niles and Portage | 2 | 0 | +2 | 16 |
| 2023 | Opened Marshall | 1 | 0 | +1 | 17 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 59% | 34% | |
| Commercial real estate | 26% | 31% | |
| Construction and land | 6% | 6% | |
| Business (C&I) | 5% | 14% | |
| Consumer | 2% | 2% | |
| Farmland | 0% | 1% | |
| Multifamily | 0% | 4% | |
| Other | 1% | 6% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 56% | 50% | |
| Time deposits | 25% | 27% | |
| Noninterest-bearing | 20% | 23% |
Brokered deposits are 1.2% of deposits (peers 11.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.51% | 0.76% |
| Net charge-offs, annualized | 0.00% | 0.03% |
| Reserves to loans | 1.10% | 1.12% |
| Leverage ratio | 8.63% | 9.54% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Michigan
Largest competitors in St. Joseph County, MI
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/sturgis