# FREELAND STATE BANK
FREELAND, MI · FDIC certificate 14926 · asset band <$300M · latest filing 2024-09 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 4 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $51.2M | |
| Deposits | $42.6M | |
| Loans and leases | $1.9M | |
| Total equity | $8.5M | |
| Loans / deposits | 4.48% (p4 of band) | 72.07% |
| Liquid assets / assets | 95.12% (p99 of band) | |
| Uninsured deposits / deposits | 14.94% (p33 of band) | 18.87% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p19 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 16.90% (p85 of band) | 11.60% |
| Unrealized securities loss / equity | -8.73% (p55 of band) | -10.38% |
| AOCI / equity | 4.21% (p60 of band) | |
| ROA (annualized) | 0.10% (p12 of band) | 0.91% |
| Net interest margin | 2.47% (p11 of band) | 3.54% |
| Efficiency ratio | 95.67% (p89 of band) | |
| Noncurrent loans | 0.93% (p75 of band) | 0.27% |
| Net charge-offs (annualized) | 0.00% (p37 of band) | |
| Reserve coverage of noncurrent | 177.78% | |
| Real estate % of loans | 95% | |
| Construction % of loans | 0.00% (p9 of band) | |
| Auto loans | $63,000 (3.25% of loans; DQ 0.00%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -12.8% | |
| Employees | 8 | |

## Flags firing in the latest filing

- **NIM <2.5%** (`earn_nim`)
- **deposits shrinking** (`shrink_deposits`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | noncurrent p90, reserve under noncurrent |  |
| 2011-06 | 2 |  |  |
| 2011-09 | 2 | losing money | noncurrent p90 |
| 2011-12 | 1 |  | losing money |
| 2012-03 | 4 | NIM <2.5%, noncurrent p90, uninsured deposits leaving |  |
| 2012-06 | 6 | capital falling, losing money |  |
| 2012-09 | 3 |  | noncurrent p90, capital falling, losing money |
| 2012-12 | 3 | noncurrent p90 | uninsured deposits leaving |
| 2013-03 | 3 |  |  |
| 2013-06 | 3 |  |  |
| 2013-09 | 4 | uninsured deposits leaving |  |
| 2013-12 | 3 |  | uninsured deposits leaving |
| 2014-03 | 4 | capital falling |  |
| 2014-06 | 3 |  | capital falling |
| 2014-09 | 5 | expense ratio p90, uninsured deposits leaving |  |
| 2014-12 | 4 |  | expense ratio p90 |
| 2015-03 | 8 | losing money, expense ratio p90, deposits shrinking, assets shrinking |  |
| 2015-06 | 6 |  | losing money, assets shrinking |
| 2015-09 | 6 | losing money | deposits shrinking |
| 2015-12 | 5 |  | uninsured deposits leaving |
| 2016-03 | 3 | uninsured deposits leaving | noncurrent p90, expense ratio p90, losing money |
| 2016-06 | 3 | noncurrent p90 | uninsured deposits leaving |
| 2016-09 | 1 |  | reserve under noncurrent, noncurrent p90 |
| 2016-12 | 3 | expense ratio p90, uninsured deposits leaving |  |
| 2017-03 | 3 | losing money | uninsured deposits leaving |
| 2017-06 | 3 | uninsured deposits leaving | losing money |
| 2017-09 | 2 |  | uninsured deposits leaving |
| 2017-12 | 3 | losing money |  |
| 2018-03 | 3 | capital falling | losing money |
| 2018-06 | 3 | losing money | capital falling |
| 2018-09 | 3 |  |  |
| 2018-12 | 3 |  |  |
| 2019-03 | 2 |  | losing money |
| 2019-06 | 2 |  |  |
| 2019-09 | 1 |  | NIM <2.5% |
| 2019-12 | 2 | NIM <2.5% |  |
| 2020-03 | 1 |  | expense ratio p90 |
| 2020-06 | 4 | capital falling, losing money, expense ratio p90 |  |
| 2020-09 | 4 |  |  |
| 2020-12 | 3 |  | capital falling |
| 2021-03 | 3 |  |  |
| 2021-06 | 3 |  |  |
| 2021-09 | 3 |  |  |
| 2021-12 | 4 | capital falling |  |
| 2022-03 | 3 |  | losing money |
| 2022-06 | 3 | losing money | capital falling |
| 2022-09 | 4 | securities losses >30% of equity |  |
| 2022-12 | 3 |  | securities losses >30% of equity |
| 2023-03 | 2 |  | losing money |
| 2023-06 | 5 | losing money, deposits shrinking, assets shrinking |  |
| 2023-09 | 4 |  | assets shrinking |
| 2023-12 | 5 | assets shrinking |  |
| 2024-03 | 3 |  | expense ratio p90, losing money |
| 2024-06 | 3 |  |  |
| 2024-09 | 4 | uninsured deposits leaving |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2024-11-24 [Thumb Bank & Trust completes merger with Freeland State Bank - Huron Daily Tribune](https://news.google.com/rss/articles/CBMioAFBVV95cUxQR2h3NEtSNjJKcjRvVmNzR09DNzliWFFHeDJxWVBvblppOVRVenVEVHlheUZMNG0zSE05SkZaV3RuS0kzbmZab1prWmJIM0sxNUVvc2tWUmNVSFdDMzJ1WkxYTEtWVzlhNVhwcU5MQ3dyUER1b1NsT3VLcXB0MV9uUWF6Mnk4ZW1DMlp1YnZrTWVzS25yZVNjLWItSzhTdHM2?oc=5) · Huron Daily Tribune
- 2024-07-23 [Ieuter Insurance welcomes third generation - Midland Daily News](https://news.google.com/rss/articles/CBMimwFBVV95cUxQVDZmV3ZIVkVGZU4tbnkwOHZTUjlyck05ejZiUjNCaEJOamNtZzJsMGtHRGZlbEZlMmZPTEVKQWtxMUo2czlZakE2VUh0Y3JjelVOb3dSMkVTNDRZLWtzMWJzRTloSlctZnZFaFNtRlpfaTNFT1JTVXZXc2ZpTE1hc1B2aEliaWZUWlN1YndJLThXUEpZWFQtOENaVQ?oc=5) · Midland Daily News
- 2024-02-22 [Obituary information for Darlene Jeanne McKellar - Ware-Smith-Woolever Funeral Directors](https://news.google.com/rss/articles/CBMiekFVX3lxTE5PUjlWS01xanRfbXI1MGUzRFREaXp2c0dXLVlZUlBxZ3YtLXk3c0Zha0VIRzFjb3g5YW9LZHZfZWVEWXZ4MEk2Rk43RmdQOW1jOUJqd3FSbWlua3FObVdUSlg0RktWQVh6R1VYZkpldUVHMWw3Xy14QVln?oc=5) · Ware-Smith-Woolever Funeral Directors
- 2011-08-04 [Donald McLaughlin Obituary (2011) - Saginaw, MI - Saginaw News on MLive.com - MLive.com](https://news.google.com/rss/articles/CBMikwFBVV95cUxPOU81RTJ1YjZqemw0OXhOdk5kX21DdHJBLVpfY1pJVTJkRFpKX0xzV1M5b2xka2pSeWo4cGtrWHNOXzU5eWk5Z1draFd5YWZtbHB2WlBFTDEyV2ZvRGIybzh1UGVBYTh5eExnb2dKS2FndWoyNTVyN0E0Z2ROVDRMZ1UwR0NpeExqSjNFUWNBVlBfc2M?oc=5) · MLive.com
- 2024-11-19 [Dow Credit Union CEO receives Autism Foundation Leadership Award - Midland Daily News](https://news.google.com/rss/articles/CBMiogFBVV95cUxQWHZJLUx6ODl4M0tjaE9rMDFkVXhBM1I5anJ2S1RvRDZaai0yWmhISGFtWU9oN2ZXVFlEcXY3cFhvNEZHSEJnUFhDOVBuazZpU0Q0QkNsb2JLcWdSb1RESUoyeVZMUFZQRTRfZHlmdHVlcnBQX2tlcDB4Y2hWMUVvOGpFLUo1b2lxR2VPYWtBd3gyWkxhMlYwR0Q5ck1oVWh2RlE?oc=5) · Midland Daily News
- 2022-04-21 [Arthur Dittenber Obituary (1937 - 2022) - Freeland, MI - Midland Daily News - legacy.com](https://news.google.com/rss/articles/CBMilAFBVV95cUxOWjBLVXotT2ZhSm9IVkpOT0x5SzZsOThfZTFmMGxLUXZjOV9zcGZmbEhCbTBiNHk3RXpwckxvZjFsMkM3NzFKa21IM0UxTmFvWVVzcUhFR2pueFoxSkJUWDFEVWVKdDZJOU1PSXpVU25JalBKLWJHbm1HejRyRjFoRVFUczYtSllJT2ltVEtkZXRRMXpu?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=14926 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/14.json (key "14926", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide