First National Bank of St. Ignace
First National Bank of St. Ignace is a privately held community bank founded in 1888, operating seven branches across Michigan's eastern Upper Peninsula and Mackinac Island. It provides personal and business deposit accounts, consumer and mortgage lending, and commercial loans to households and small businesses in the Straits of Mackinac region.
- Company typePrivate
- Founded1888
- HeadquartersSaint Ignace, United States
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What First National Bank of St. Ignace does
First National Bank of St. Ignace is a privately held community bank founded in 1888 under a national banking charter and headquartered at 132 North State Street in St. Ignace, Michigan. The bank operates seven branches across the eastern Upper Peninsula and Straits of Mackinac region, including locations on the mainland (St. Ignace main office plus North Bay and Moran Township branches), Mackinac Island, Cedarville, Naubinway, and Newberry. The Brown family has retained controlling ownership since 1931, and in 2018 the bank established Mackinac National Bancorp as a holding company to preserve independence and facilitate future expansion. The bank's service offering spans deposit products (personal and business checking, savings, certificates of deposit), lending products (consumer, residential mortgage, and commercial business loans), and ancillary services (safe deposit boxes, wire transfers, overdraft protection, and title services via its wholly-owned subsidiary Whiteside Abstract & Title Company).
The bank's digital infrastructure is built primarily on the third-party Banno platform, delivered through web-based online banking and native iOS and Android applications. Feature capabilities include two-factor authentication (with Authy as a third-party authenticator option), mobile remote deposit capture, iPay bill payment with scheduled and recurring payment support, debit card controls, and eStatements. Telephone banking is provided through the proprietary iTalk voice response system, while mortgage origination runs on a Wolters Kluwer-powered self-serve online application portal completing in approximately 20 minutes. No proprietary AI, machine learning, or data-driven underwriting systems are evident; the technology posture is that of a traditional community bank modernized through vendor partnerships.
The revenue model is conventional community banking economics: net interest income from the loan portfolio (consumer, mortgage, and commercial) net of interest paid on deposits, supplemented by transaction and service fees on deposit accounts, safe deposit box rentals, wire transfer fees, and overdraft-related charges. Deposit pricing includes tiered checking ($50-$1,000 minimums, $3-$5 monthly fees), savings products ranging from 0.05% to 0.50% APY, and CDs with minimums from $500 (youth Moola Moola CD) to $10,000 (Flex-12 Liquid). The go-to-market is relationship-led and branch-anchored, supplemented by community partnerships with local chambers of commerce and tourism organizations across the service area.
First National Bank of St. Ignace firmographics
Firmographics- Name
- First National Bank of St. Ignace
- Legal name
- First National Bank of St. Ignace
- Website
- https://fnbsi.com
- Company type
- Private
- Founded year
- 1888
- Operating status
- Operating
- Short description
- First National Bank of St. Ignace is a privately held community bank founded in 1888, operating seven branches across Michigan's eastern Upper Peninsula and Mackinac Island. It provides personal and business deposit accounts, consumer and mortgage lending, and commercial loans to households and small businesses in the Straits of Mackinac region.
- Ownership category
- akta.pro rank
Where First National Bank of St. Ignace is headquartered
LocationHeadquarters
- HQ city
- Saint Ignace
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
First National Bank of St. Ignace business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Net Interest Income: Primary revenue source from interest earned on loan portfolio including consumer loans, mortgages, and business loans, offset by interest paid on deposits.
- Deposit Account Fees: Monthly service charges, overdraft fees, check writing charges, and wire transfer fees from personal and business checking accounts.
- Service Charges: Fees from savings accounts (monthly service charges when balance falls below minimum), certificates of deposit maintenance, and other account services.
- Safe Deposit Box Rentals: Annual rental fees for safe deposit boxes available at all branch locations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | Standard CD - Fixed-term certificate with $1,000 minimum opening balance |
| One time/ perpetual license | Multi-year contract | Flex-12 Liquid CD - Penalty-free withdrawal access with $10,000 minimum |
| One time/ perpetual license | Multi-year contract | Moola Moola CD - Youth savings CD with $500 minimum |
| Subscription | Monthly | Money Market Savings - 0.25% APY with $1,000 minimum |
| Subscription | Monthly | Statement Savings - 0.15% APY with $25 minimum |
| Subscription | Monthly | Select Savings - 0.40% APY premier savings with $10,000 minimum |
| Subscription | Monthly | Christmas Club Savings - 0.50% APY with $10 minimum |
| Subscription | Monthly | Personal Checking - $50 minimum, $3 monthly with overdraft protection |
| Subscription | Monthly | Personal NOW Checking - 0.05% APY with $1,000 minimum |
| Subscription | Monthly | Super NOW Checking - 0.10% APY with $100 minimum |
| Subscription | Monthly | Business Checking - $100 minimum with transaction fees |
| Subscription | Monthly | Business Interest Checking - Interest-bearing business account with $1,000 minimum |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels5 records
First National Bank of St. Ignace product offering
Product offeringCore offering
First National Bank of St. Ignace is a community bank providing personal and business deposit accounts (checking, savings, CDs, debit/credit cards), consumer loans (auto, RV, personal, HELOC), residential mortgages (fixed, balloon, ARM, construction), and commercial business loans (mortgages, lines of credit, equipment/working capital financing). Services are delivered through seven physical branches across Michigan's eastern Upper Peninsula and through digital banking channels including online, mobile, and telephone banking.
Product overview
First National Bank of St. Ignace offers a traditional community banking platform organized around deposit products (checking, savings, CDs) and lending services (consumer, mortgage, and business loans). The core digital banking experience is powered by the Banno platform with integrated bill payment via iPay. Additional services include telephone banking (iTalk), electronic statements, overdraft protection, safe deposit boxes, wire transfers, and a comprehensive suite of financial calculators. The bank operates seven branches across Michigan's eastern Upper Peninsula and serves customers digitally through online and mobile banking, telephone banking, and an online mortgage application portal.
Differentiator
Problem solved
Functional benefit
Brands
- Banno: Online and mobile banking platform provided by First National Bank of St. Ignace
- iPay
- iTalk
- Moola Moola CD
- Moola Moola Savings
Products and services
- Personal & Business Checking Accounts Variety of checking accounts including Personal Checking, Flex Green, Personal NOW, Super NOW, Regular Business, and Business Interest checking options designed for individual consumers and small to medium businesses.
- Savings Accounts Multiple savings account options including Money Market Savings, Statement Savings, Moola Moola (children's savings), Select Savings, and Christmas Club savings accounts for individual savers and families.
- Certificates of Deposit (CDs) Term deposit products including Standard CD, Flex-12 Liquid CD (penalty-free withdrawal), and Moola Moola CD designed for various savings goals, time horizons, and youth financial education.
- Bank Credit & Debit Cards Debit and credit card services with MyCardRules card management features allowing users to control when, where, and who uses their cards, set spending limits, and receive alerts.
- Home Mortgages Residential mortgage products including Fixed Rate (15-30 year), Balloon Mortgage (5-7 year), Adjustable Rate Mortgage, Construction loans, and Home Equity Line of Credit (HELOC) for homebuyers and homeowners in the served region including unique island and hunting properties.
- Consumer Loans Personal lending products including Auto and Recreational Vehicle Loans (cars, trucks, campers, boats, snowmobiles, ATVs, SUVs), Personal Loans, and Home Equity Line of Credit for individual borrowers.
- Business Loans Commercial lending products including Business Mortgage Loans (up to 20 years), Business Lines of Credit (up to 1 year term), and Commercial Business Loans for equipment, working capital, real estate, and other financing needs of small businesses.
- Online Mortgage Application Self-service digital mortgage application portal allowing borrowers to complete mortgage applications in approximately 20 minutes, integrated with Wolters Kluwer origination system.
- Safe Deposit Boxes Secure storage service for valuable records and documents available at all branch locations, with annual rental fees.
- Wire Transfers Electronic money transfer service enabling fast movement of funds between parties domestically and internationally through bank channels and Western Union partnership.
Quantifiable outcome
- 130+ years of continuous banking operations in the same location
Companies that use First National Bank of St. Ignace
Customer profileSegments4 records
Ideal customer profiles3 records
First National Bank of St. Ignace technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature5 records
First National Bank of St. Ignace partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Western UnionminorWestern Union wire transfer service is offered at bank locations, allowing customers to quickly transfer money globally. This partnership provides an additional service option for international money transfers.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
First National Bank of St. Ignace competitors and assessment
Company assessmentBroad incumbents
- Huntington Bancshares: Large regional bank holding company headquartered in Columbus, Ohio, with significant Michigan branch presence and full consumer/commercial product set. Comparable by product breadth — checking, savings, mortgages, business loans, digital banking — but competes against First National Bank of St. Ignace as a much larger incumbent.
- Lake Michigan Credit Union: Michigan-headquartered credit union offering deposits, mortgage, and consumer/commercial lending statewide. Comparable as a Michigan depository alternative competing for the same consumer and small-business customers with a broader geographic footprint than First National Bank of St. Ignace.
- Independent Bank Corporation: Michigan-based bank holding company operating across the state through its Independent Bank subsidiary, providing deposits, mortgages, and commercial lending. Comparable as a Michigan-headquartered community-commercial bank offering overlapping deposit and lending products at greater scale.
- Mercantile Bank Corporation: Grand Rapids-based regional bank holding company with community-bank-style branches across Michigan. Comparable as a broader Michigan community/commercial banking franchise overlapping in product lines (deposits, mortgages, business loans) but operating at significantly larger scale.
Direct peers
- Level One Bank: Michigan-based community bank offering personal and business banking, mortgages, and digital services. Comparable as a community bank of similar scale serving Michigan markets with a comparable deposit-and-lending model.
- Range Bank: Community bank serving the western Upper Peninsula of Michigan with deposit products, mortgages, and business lending. Comparable by geography, size, and product mix to First National Bank of St. Ignace in a neighboring Upper Peninsula region.
- Superior National Bank & Trust: Upper Peninsula-focused community bank headquartered in Hancock, MI, offering deposit accounts, consumer loans, mortgages, and commercial lending in a comparable regional footprint. Comparable as a peer-sized Michigan community bank with similar deposit-and-lending model and small-market physical distribution.
- Independence Bank (Michigan): Michigan community bank operating across multiple regions with a similar deposit-and-lending model. Comparable as a privately held, relationship-based community bank with similar product breadth to First National Bank of St. Ignace.
Others
- Northwestern Mutual: Provider of life insurance, wealth management, and retirement products sold through local advisors. Not a direct competitor but relevant as an adjacent financial-services peer whose local-advisor distribution model parallels a community bank's relationship-based GTM in the same Upper Peninsula geographies.
Regional players
- Sault Ste. Marie Tribe of Chippewa Indians - Bay Mills Banking Center area community banks: Central Savings Bank (CSB) operates in Michigan's eastern Upper Peninsula near Sault Ste. Marie, offering community deposit and lending products in a similar micro-market. Comparable by size, regulatory profile, and proximity-adjacent footprint in the same Eastern UP corridor.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First National Bank of St. Ignace social profiles
Digital presenceFirst National Bank of St. Ignace compliance and trust
Trust signalCompliance2 records
First National Bank of St. Ignace financial estimates
Financial estimateRevenue estimate
Valuation estimate
First National Bank of St. Ignace leadership team
Management profileNumber of profiles
Profiles6 records
First National Bank of St. Ignace subsidiaries and ownership
Company hierarchySubsidiaries1 record
First National Bank of St. Ignace funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First National Bank of St. Ignace M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First National Bank of St. Ignace
What does First National Bank of St. Ignace do?
First National Bank of St. Ignace is a community bank providing personal and business deposit accounts (checking, savings, CDs, debit/credit cards), consumer loans (auto, RV, personal, HELOC), residential mortgages (fixed, balloon, ARM, construction), and commercial business loans (mortgages, lines of credit, equipment/working capital financing). Services are delivered through seven physical branches across Michigan's eastern Upper Peninsula and through digital banking channels including online, mobile, and telephone banking.
Is First National Bank of St. Ignace a public or private company?
First National Bank of St. Ignace is a private company. It is classified as family owned and is currently operating.
When was First National Bank of St. Ignace founded?
First National Bank of St. Ignace was founded in 1888.
Where is First National Bank of St. Ignace based?
First National Bank of St. Ignace is headquartered in Saint Ignace, United States, in the North America region.
How does First National Bank of St. Ignace make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are deposit Account Fees, service Charges and safe Deposit Box Rentals.
Who are First National Bank of St. Ignace's main competitors?
Broad incumbents on record are Huntington Bancshares, Lake Michigan Credit Union, Independent Bank Corporation and Mercantile Bank Corporation. Direct peers are Level One Bank, Range Bank, Superior National Bank & Trust and Independence Bank (Michigan). Northwestern Mutual is listed as an others. Sault Ste. Marie Tribe of Chippewa Indians - Bay Mills Banking Center area community banks is listed as a regional player.
Does First National Bank of St. Ignace have an API?
No public API is recorded for First National Bank of St. Ignace.