Unverified listing What this means
The Lender Report built this page from public records. Chelsea State Bank has not reviewed it. Every lender's page starts this way, and it says nothing about Chelsea State Bank itself. Each figure shows its source and date. Work at Chelsea State Bank? You can claim this page for free.
Bank, Chelsea, MI
Chelsea State Bank
A bank based in Chelsea, MI. Its commercial book is led by owner-occupied CRE and C&I. Public files show recent SBA 7(a) and SBA 504 loans it made.
- Kind
- Bank
- Data as of
- June 30, 2026
- Page last changed
- November 12, 2026
- Commercial book
- $219M
- FDIC call report,
- Holds, not loans made
- Multifamily loans made, 2025
- Not reported
- HMDA,
- HMDA, 5 or more units
- SBA loans, 36 months
- 29
- SBA FOIA,
- 7(a) and 504, net of cancelled
- Total assets
- $417M
- FDIC call report,
Does it fit my deal?
The deal is read here and kept nowhere. Leave out names, income and credit scores.
How to reach them
Each line shows where it came from
- Phone
- 734-475-1355 From the lender's website, retrieved November 9, 2026. Source page
- Website
- www.chelseastate.bankFrom the FDIC record, November 9, 2026.
- Commercial lending page
- chelseastate.bankFrom the lender's website, retrieved November 11, 2026.
- Address
- 1010 S Main St, Chelsea, MI 48118FDIC institution record,
- Regulator record
- FDIC BankFind
Recently done
Some recorded lending
Some recorded lending. One public file shows loans this lender made.
What changed. Chelsea State Bank recorded 13 SBA 7(a) approvals in the 12 months to September 30, 2026, versus 3 in the prior 12 months. SBA FOIA,
| When | What the record shows | Source |
|---|---|---|
| Last 24 months | Office changes in the last 24 months: 1 opened, 0 closed, 0 relocated.FDIC structure history. | FDIC history |
| Oct 2023 to Sep 2026 | SBA 7(a) approvals by processing method: 9 SBA Express.SBA ProcessingMethod field, net of cancellations. | SBA FOIA, |
| Jun 2025 to Jun 2026 | Owner-occupied CRE balance rose 13.3% to $89.9M in the year to June 30, 2026.Balances, not originations. Year over year from call reports. | FDIC call report |
| Jun 2025 to Jun 2026 | Unused commitments on commercial real estate rose 27.4% to $21.8M in the year to June 30, 2026.Call report commitments. Not a measure of new lending. | FDIC call report |
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| Sep 2026 | Michigan | SBA 7(a), Child Care Services | $480K | 7.75% | 20 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Fitness and Recreational Sports Centers | $2M | 7.25% | 21 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Full-Service Restaurants | $800K | 7.5% | 10 yr | SBA FOIA | |
| Jun 2026 | Michigan | SBA 7(a), Electrical Contractors and Other Wiring Installation Contractors | $310K | 7.75% | 10 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Offices of Mental Health Practitioners (except Physicians) | $3.1M | 7.25% | 10 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Sports and Recreation Instruction | $1M | 7.5% | 10 yr | SBA FOIA | |
| May 2026 | Michigan | SBA 7(a), Sports and Recreation Instruction | $100K | 7.25% | 10 yr | SBA FOIA | |
| Mar 2026 | Michigan | SBA 7(a), Wineries | $880K | 7.25% | 10 yr | SBA FOIA | |
| Mar 2026 | Michigan | SBA 7(a), Sports and Recreation Instruction | $290K | 7.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Michigan | SBA 7(a), All Other Amusement and Recreation Industries | $250K | 6.75% | 10 yr | SBA FOIA | |
| Mar 2026 | Michigan | SBA 7(a), Engineering Services | $250K | 7.75% | 10 yr | SBA FOIA | |
| Jan 2026 | Michigan | SBA 7(a), Fitness and Recreational Sports Centers | $1.5M | 7.25% | 11 yr | SBA FOIA | |
| Jan 2026 | Michigan | SBA 7(a), Accommodation and Food Services | $250K | 7.75% | 20 yr | SBA FOIA | |
| Aug 2025 | Michigan | SBA 7(a), All Other Miscellaneous Retailers | $190K | 8% | 10 yr | SBA FOIA | |
| Mar 2025 | Michigan | SBA 504, Wholesale Trade | $790K | 25 yr | SBA FOIA | ||
| Mar 2025 | Michigan | SBA 7(a), Machine Shops | $270K | 7.75% | 10 yr | SBA FOIA | |
| Oct 2024 | Michigan | SBA 7(a), Manufacturing | $790K | 8.5% | 21 yr | SBA FOIA | |
| Sep 2024 | Michigan | SBA 7(a), Sporting Goods Retailers | $820K | 9.5% | 10 yr | SBA FOIA | |
| Jun 2024 | Michigan | SBA 7(a), Machine Shops | $1M | 9% | 10 yr | SBA FOIA | |
| Jun 2024 | Michigan | SBA 7(a), Plumbing, Heating, and Air-Conditioning Contractors | $120K | 8.5% | 10 yr | SBA FOIA | |
| May 2024 | Michigan | SBA 504, Machine Shops | $500K | 25 yr | SBA FOIA | ||
| May 2024 | Michigan | SBA 7(a), Engineering Services | $420K | 8.5% | 10 yr | SBA FOIA | |
| May 2024 | Michigan | SBA 7(a), Administrative Management and General Management Consulting Services | $250K | 9% | 9 yr | SBA FOIA | |
| Apr 2024 | Michigan | SBA 7(a), Professional, Scientific, and Technical Services | $82K | 8.5% | 8 yr | SBA FOIA | |
| Mar 2024 | Michigan | SBA 7(a), Veterinary Services | $2.2M | 9.5% | 20 yr | SBA FOIA | |
| 27 SBA 7(a) loans since October 2023, net of cancelled | $19.4M | SBA FOIA | |||||
A blank means the source did not report it.
What it holds
FDIC call report, June 30, 2026
| Book | Holds | Of its loans | Year over year |
|---|---|---|---|
| Multifamily | $8.35M | 3.3% | +3.1% |
| Construction and land development | $5.13M | 2.0% | -52.7% |
| Owner-occupied CRE | $89.9M | 35.1% | +13.3% |
| Non-owner-occupied CRE | $45.9M | 17.9% | -11.7% |
| Farmland | $2.48M | 1.0% | -12.6% |
| Commercial and industrial | $67.7M | 26.4% | -6.8% |
| Commercial total | $219M |
Reference only: $30.4M of 1-4 family residential loans, which call reports cannot split owner-occupied from investor. Excluded from the totals above.
Table
| Quarter | Commercial book |
|---|---|
| Q3 2023 | $202M |
| Q4 2023 | $208M |
| Q1 2024 | $215M |
| Q2 2024 | $218M |
| Q3 2024 | $220M |
| Q4 2024 | $226M |
| Q1 2025 | $227M |
| Q2 2025 | $226M |
| Q3 2025 | $221M |
| Q4 2025 | $217M |
| Q1 2026 | $221M |
| Q2 2026 | $219M |
| Kind of loan | Period | Loans made | Dollars | Typical size | Largest | Source |
|---|---|---|---|---|---|---|
| SBA 7(a), net of cancelled | 36 months to Sep 2026 | 27 | $19.4M | $425K | $3.1M | SBA FOIA, |
| SBA 7(a), net of cancelled | 12 months to Sep 2026 | 13 | $11.2M | SBA FOIA, | ||
| SBA 504 first lien, net of cancelled | 36 months to Sep 2026 | 2 | $1.30M | $650K | $790K | SBA FOIA, |
How these public files were tied to this lender. SBA 7(a) loans: its FDIC certificate number. SBA 504 first liens: name and lender office city.
Programs on record: Federal Home Loan Bank member, Indianapolis district (FHFA).
Undrawn commitments
FFIEC Call Report, June 30, 2026
- Chelsea State Bank reported commitments to fund construction loans that had not been drawn at June 30, 2026: $733,000 for 1-4 family residential construction and $21,077,000 for commercial real estate, other construction and land development (FFIEC Call Report). A commitment is an agreement to fund a loan if it is drawn. It is not a loan made.
- Undrawn commitments to commercial and industrial borrowers at June 30, 2026: $47,214,000. These are credit lines not yet used.
Small loans it holds, by original size
FDIC BankFind Suite API, /banks/financials (Call Report), report dates 2026-06-30 and 2025-06-30, June 30, 2026
Loans held on the report date, grouped by the amount when each loan was made. Not loans made in a period.
| Original amount | Loans | Holds |
|---|---|---|
| $100,000 or less | 79 | $1.93M |
| Over $100,000 up to $250,000 | 73 | $5.42M |
| Over $250,000 up to $1 million | 42 | $9.32M |
| Original amount | Loans | Holds |
|---|---|---|
| $100,000 or less | 5 | $223K |
| Over $100,000 up to $250,000 | 34 | $4.58M |
| Over $250,000 up to $1 million | 92 | $38.5M |
| Original amount | Loans | Holds |
|---|---|---|
| $100,000 or less | 1 | $13.0K |
| Over $100,000 up to $250,000 | 2 | $377K |
| Over $250,000 up to $500,000 | 4 | $1.13M |
| Original amount | Loans | Holds |
|---|---|---|
| $100,000 or less | 9 | $224K |
| Over $100,000 up to $250,000 | 1 | $79.0K |
| Over $250,000 up to $500,000 | 3 | $424K |
Where it lends
Offices beside loans on record
| State | Offices | Multifamily 2025 | 1-4 investor 2025 | SBA 7(a) 36 mo. | SBA 504 36 mo. |
|---|---|---|---|---|---|
| Michigan HQ | 4 | 27 | 2 |
Offices by county
FDIC Summary of Deposits, June 30, 2026
- Chelsea State Bank has 4 offices in 2 counties and 1 state (FDIC Summary of Deposits, June 30, 2026): 4 full service and 0 limited service.
| County | Full-service offices | Limited-service offices |
|---|---|---|
| Washtenaw County, MI | 3 | 0 |
| Jackson County, MI | 1 | 0 |
Loan production offices are not in this file. A bank with no office here can still lend here.
Capacity. Not a rating
Our calculation from public filings, as of June 30, 2026. Not a rating, and not a statement about safety or deposits.
| Measure | This lender | Its peers | How it is worked out | Source |
|---|---|---|---|---|
| Estimated largest single loan | $8.57M | $4.96M to $9.75M across 8 peers | Estimate: 15% of tier 1 capital plus allowance. A further 10% is allowed with readily marketable collateral, and state-chartered banks follow state limits. Not a limit the lender has stated. | FDIC call report, 12 CFR 32.3, Jun 30, 2026 |
| CRE to capital | 104.0% | 63.1% to 297.2% across 8 peers | (Construction + multifamily + non-owner-occupied CRE loans) divided by tier 1 capital plus allowance. | FDIC call report, |
| Construction to capital | 9.0% | 15.9% to 64.1% across 8 peers | Construction loans divided by tier 1 capital plus allowance. | FDIC call report, |
| Loans to deposits | 70.1% | 63.2% to 94.7% across 8 peers | Total loans divided by total deposits. | FDIC call report, |
| Unused CRE commitments | $21.8M | $2.61M to $51.6M across 8 peers | Commitments to lend on commercial real estate that are not yet drawn, up 27.4% from a year earlier. | FDIC call report, |
| Loans to assets | 61.5% | 54.3% to 82.1% across 8 peers | Total loans divided by total assets. | FDIC call report, |
Our calculation: construction, multifamily and non-owner-occupied nonfarm nonresidential loans, divided by tier 1 capital plus the allowance for loan losses. It is not the test in the 2006 interagency guidance on commercial real estate concentrations (December 12, 2006; OCC Bulletin 2006-46, Federal Reserve SR 07-1). That guidance measures against total risk-based capital, also counts loans that finance commercial real estate but are not secured by real estate, and looks more closely when construction and land loans reach 100% of that capital, or commercial real estate loans reach 300% of it and have grown 50% or more in the prior 36 months. This figure uses a different capital base, leaves out the unsecured loans and applies no growth condition. The guidance sets no limit on lending. Not a rating, and not a statement about safety or deposits.
Loan channel and SBA processing
Public record only
- SBA Express
- 9 loans
- Approval to first disbursement
- 23.5 days, median of 24
SBA FOIA, SBA 7(a) loans, 36 months. Counted from SBA approval, not application. Lines of credit disburse fast.
Peers
Same kind of lender, similar size and book
| Lender | State | Total assets | Commercial book |
|---|---|---|---|
| Central Savings Bank | MI | $517M | $183M |
| First National Bank & Trust Co. | MI | $386M | $135M |
| 1st State Bank | MI | $490M | $282M |
| State Savings Bank | MI | $431M | $189M |
| First Community Bank | MI | $414M | $272M |
| Lake-Osceola State Bank | MI | $469M | $117M |
| Huron Community Bank | MI | $323M | $126M |
| Honor Bank | MI | $443M | $262M |
What we don't know
- Whether it is taking new loans today, or on what terms.
- How much of its book it made recently. Call reports carry balances, not loans made.
- Which of its commercial real estate is office, retail, industrial or hotel. Call reports do not split the book by property type.
- How its 1-4 family loans divide between owner-occupied and investor.
- Whether it makes multifamily loans. No HMDA multifamily loans are on file under this name for 2024 or 2025.
- Whether it takes brokers. No figure here means no evidence, not a refusal.
Check this page
Against the regulator's own record
- Name and charter. Chelsea State Bank, FDIC certificate 14009. Compare it with the regulator's record. [FDIC BankFind]
- Balances. $417M in total assets and $219M in commercial loans held, from the call report for June 30, 2026. [Source]
- Loans made. 29 recorded loans from SBA files, through September 30, 2026: 27 SBA 7(a) in 36 months, 2 SBA 504 first liens in 36 months. Each has its source and date. [How each file was tied to Chelsea State Bank]
- Phone and website. Phone 734-475-1355, from the lender's website on November 9, 2026. Website chelseastate.bank, from the FDIC record. [How to reach them]
Something wrong? Report it with evidence. It is free, and it works the same for every lender whether it pays or not. Report an error
For the record
Data as of June 30, 2026. Page last changed November 12, 2026.
- Regulator
- Federal Reserve
- FDIC certificate
- 14009
- RSSD
- 711548
- The Lender Report ID
- lr_002900
- FDIC classifies this bank as
- Commercial Lending Specialization
- Ownership
- Stock
- Head office metro area
- Ann Arbor, MI
FDIC institution record, The classification is FDIC's description of the balance sheet. It is not a statement about what the bank will lend on.
- Reported $416.5M in total assets as of June 30, 2026 (FDIC call report).
- Held $219.5M of commercial and commercial real estate loans as of June 30, 2026 (FDIC call report).
- Held $89.9M of owner-occupied commercial real estate loans as of June 30, 2026, up 13.3% from a year earlier (FDIC call report).
- Held $67.7M of commercial and industrial loans as of June 30, 2026 (FDIC call report).
- Held $45.9M of non-owner-occupied commercial real estate loans as of June 30, 2026 (FDIC call report).
- Recorded 28 SBA 7(a) approvals totaling $19.9M from October 1, 2023 to September 30, 2026, of which 1 was later cancelled (SBA).
5 more sentences
- Provided the first lien on 2 SBA 504 projects with $1.3M in first-lien dollars from October 1, 2023 to September 30, 2026 (SBA).
- Listed 4 offices in 1 state (FDIC).
- Held 194 commercial and industrial loans that were $1 million or less when made, with a balance of $16.7M as of June 30, 2026 (FDIC call report). These are loans held, not loans made.
- Held 131 loans secured by nonfarm nonresidential property that were $1 million or less when made, with a balance of $43.3M as of June 30, 2026 (FDIC call report). These are loans held, not loans made.
- Reported commitments to fund construction loans that had not been drawn at June 30, 2026: $733K for 1-4 family and $21.1M for commercial and other construction (FFIEC Call Report). A commitment is not a loan made.
Cite this
Source: The Lender Report, Chelsea State Bank, https://lender.report/lender/chelsea-state-bank-mi/, data as of June 30, 2026.
Sources
- FDIC institution record, November 9, 2026
- FDIC office list, October 28, 2026
- FDIC call report, June 30, 2026
- FDIC call report, June 30, 2025
- SBA FOIA, September 30, 2026
- FFIEC Call Report, June 30, 2026
- FDIC call reports, June 30, 2026
- FDIC Summary of Deposits, June 30, 2026
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.
See something wrong? Write to desk@lender.report or use the correction form. We reply within 2 business days and fix confirmed errors within 10. We correct our own mistakes at once. Where the public record itself is wrong, we show the lender's correction beside it and tell you how to ask the agency to fix the source. Correction form. Names identify institutions and imply no affiliation.
We publish data about lenders and sell advertising. We are not a bank or lender, and we do not make credit decisions, take applications, negotiate terms or arrange loans through this site. Using this site creates no broker, advisory or fiduciary relationship. Commercial-purpose loans only. Nothing here is an offer to lend or a promise that any lender will offer you a loan.
Work at Chelsea State Bank? Claim this page, free.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem