What Chelsea State Bank does

Chelsea State Bank is a privately held, FDIC-insured state-chartered community bank founded in 1897 and headquartered in Chelsea, Michigan. The bank operates four full-service branches across Chelsea (Main Plaza and Downtown), Dexter, and Jackson, serving Washtenaw and Jackson counties with 51-100 employees. Its customer base spans personal banking, small and mid-sized businesses, and agricultural borrowers, anchored on community-relationship lending and local decision-making.

The product portfolio is structured across three business lines — Personal Banking (Simply Free, Regular, and Interest Checking; Regular and Money Market Statement Savings; CDs; IRAs; personal credit cards; auto, RV, boat, snowmobile, and tractor loans; mortgages and HELOCs), Business Banking (four-tier checking from Micro Advantage through Business Plus, business savings, business credit cards, equipment loans, commercial real estate loans, SBA loans, business lines of credit, and letters of credit), and Agriculture Banking (farm equipment and livestock loans, ag real estate loans, agribusiness lines of credit, and USDA / Farmer Mac / B&I program loans). Supporting infrastructure includes a dedicated mobile banking app on iOS and Android (App Store ID 6479317362), a 24/7 online banking platform, a separate business treasury management portal (tm.chelseastate.bank), and value-added services such as Zelle peer-to-peer payments, Apple Pay, ID TheftSmart protection, and SavvyMoney credit-score monitoring.

Revenue is generated primarily through net interest income on the loan portfolio (consumer, commercial, and agricultural), augmented by transaction-fee income from deposit accounts (monthly maintenance fees, excess-transaction fees, paper-statement fees), service charges (wire transfers, overdraft protection, safe deposit boxes, official checks, Visa gift cards), and professional-services revenue from treasury management (merchant card services, ACH processing, payroll direct deposit, cash management, positive pay). Distribution is delivered through a hybrid model combining physical branches, digital self-serve channels, and embedded partner networks (Allpoint for 55,000+ surcharge-free ATMs, IntraFi/CDARS for extended FDIC insurance, Plinqit for automated savings), with go-to-market emphasis on community sponsorships and recurring appearances on JTV's Financial Focus program.

Name

Chelsea State Bank

Legal name

Chelsea State Bank

Website

https://chelseastate.bank

Company type

Private

Founded year

1897

Operating status

Operating

Headcount range

51–100 employees

Short description

Chelsea State Bank is an FDIC-insured community bank founded in 1897, operating four branches across Chelsea, Dexter, and Jackson, Michigan. It provides personal, business, and agricultural banking — including checking, savings, loans, treasury management, and mobile banking — to households, small businesses, and farms in Washtenaw and Jackson counties.

Ownership category

akta.pro rank

Headquarters

HQ city

Chelsea

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue stream from interest earned on loans including personal loans (auto, RV, boat, snowmobile, tractor), home loans (mortgages, HELOCs), business loans (equipment, commercial real estate, SBA), and agricultural loans (farm equipment, real estate, operating credit).
2. Deposit Account Fees: Monthly maintenance fees on certain accounts when minimum balance requirements are not met, transaction fees for exceeding free transaction limits, and paper statement fees.
3. Service Charges: Fees for services including wire transfers, overdraft protection transfers, safe deposit boxes, official checks, and Visa gift cards.
4. Treasury Management Services: Business treasury management services including merchant card services, ACH processing, payroll direct deposit, and cash management solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Chelsea State Bank is an FDIC-insured community bank founded in 1897 that provides deposit products (checking, savings, money market, CDs, IRAs), lending products (personal, home, business, and agricultural loans), credit cards, and treasury management services to individuals, families, small businesses, and farms across southeastern Michigan through four branch locations and digital channels. Revenue is driven primarily by net interest income from loans and supplemented by deposit fees, transaction fees, and treasury management services.

Product overview

Chelsea State Bank is a full-service community bank offering a comprehensive suite of banking products and services across personal, business, and agricultural segments. The bank's product portfolio consists of three core business lines: Personal Banking (checking, savings, credit cards, personal loans, and home loans), Business Banking (checking, savings, credit cards, commercial loans, SBA loans, and Treasury Management services), and Agriculture Banking (farm equipment loans, real estate loans, agribusiness credit, and USDA/Farmer MAC programs). Supporting these customer-facing products are digital banking platforms including Online Banking, Mobile Banking App (iOS/Android), and Treasury Management Login. The bank also offers investment services, identity theft protection (ID TheftSmart), and various account services like Zelle peer-to-peer payments, Allpoint ATM access, and IntraFi/CDARS for large deposits. The architecture is structured as a traditional community bank with integrated digital channels rather than a modular platform approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Simply Free Checking Basic personal checking account with no monthly maintenance fees and no minimum balance requirement, offering direct access via debit card, online banking, and ATMs.
• CSB Regular Checking Personal checking account designed for individuals maintaining higher monthly balances, offering overdraft protection, complimentary debit card, and digital banking services.
• CSB Interest Checking Interest-bearing personal checking account that earns 0.20% APY on collected daily balance, with free online and mobile banking features.
• CSB Regular Statement Savings Multi-purpose personal savings account with 0.50% APY on entire balance, offering flexible access with complimentary online and mobile banking.
• CSB Combined Statement Savings Personal savings account linked to any CSB checking account with combined monthly statements, tiered 0.55–0.60% APY by balance, and no monthly service fee.
• CSB Money Market Savings Tiered-rate personal money market savings account rewarding larger balances with higher interest rates from 0.60% to 1.61% APY, offering enhanced access to funds including direct check writing.
• CSB Combined Money Market Savings Personal money market savings account available to customers with CSB checking, offering tiered rates for large balances with combined monthly statements.
• Certificates of Deposit (CDs) Fixed-rate term deposits with guaranteed earnings, available in terms from 182 days to 60 months with APYs from 2.00% to 3.28% and $500 minimum deposit.
• IRA (Individual Retirement Account) Retirement savings accounts with tax advantages, available in Traditional and Roth IRA options with competitive interest and no setup or maintenance fees.
• Personal Credit Cards Credit card products for personal use with various benefits and features.
• Auto Loans Vehicle financing with flexible terms, free pre-qualification, and quick local decisions for purchasing or refinancing automobiles, with rates as low as 6.32% APR.
• Recreational Vehicle (RV) Loans Financing for recreational vehicles including motorhomes, travel trailers, and other outdoor adventure vehicles with competitive fixed rates.
• Boat Loans Financing options for boats and personal watercraft to help customers embark on their next nautical adventure.
• Snowmobile Loans Winter adventure financing for snowmobiles with competitive rates and local decision-making.
• Tractor Loans Small loans for hobby gardening or landscaping tractors, designed to help tackle tasks with ease.
• Home Loans Mortgage and home financing products for purchasing or refinancing homes.
• Home Equity Loans Equity-based lending products allowing homeowners to access the value of their homes.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for flexible borrowing needs.
• SavvyStudent Student-focused banking product with features tailored for young adults and college students.
• School Spirit Banking product designed for students with school-related features and benefits.
• Business Micro Advantage Checking Checking account designed for small businesses with few monthly transactions and low average balances, featuring no minimum balance requirement, 50 free debit and 50 free credit transactions per month.
• Business Advantage Checking Mid-sized business checking account with higher transaction limits, flexible cash management, and treasury services options; $5,000 minimum balance to avoid $10 monthly fee with 150 free debit/credit transactions per month.
• Business Plus Checking High-volume business checking with unlimited transactions per month and mobile deposit capabilities; $25,000 minimum average collected balance to avoid $15 monthly fee.
• Business Interest Checking Interest-bearing business checking for sole-proprietors, DBAs, non-profit organizations, and governmental units, earning competitive interest on balances.
• Business Statement Savings Savings account for business customers with competitive interest rates.
• Business Combined Statement Savings Business savings with combined statement linking to business checking account.
• Business Money Market Account Business savings account with money market features for higher balances.
• Business Combined Money Market Savings Money market savings for business customers with CSB checking, offering combined statements.
• Business Credit Card Credit card products designed for business use with various benefits and features.
• Equipment Loans Business financing for new or used equipment with competitive rates to maintain operations without cutting into working capital.
• Commercial Loans Real estate financing for commercial property purchase, refinance, or construction with local lenders familiar with the market.
• SBA Loan Government-backed small business loans for startups, purchasing, and refinancing with special financing for qualifying businesses offered through the SBA 7(a) program.
• Business Lines of Credit Revolving credit lines for seasonal fluctuations, inventory, and working capital needs with flexible borrowing and repayment.
• Letter of Credit Payment guarantees for large purchases to third parties, serving as an alternative to insurance company performance bonds.
• Merchant Card Services Payment processing services for business customers including contactless payment acceptance.
• Funds Transfer Services (ACH and Wire) ACH and wire transfer services for business treasury management needs.
• Positive Pay Fraud prevention service for businesses that matches checks and electronic transactions against issued payments.
• Cash Management Comprehensive cash management services to optimize business liquidity and financial operations.
• Payroll Direct Deposit Services Direct deposit services for business payroll processing.
• Overdraft Protection (Business) Business overdraft protection services linking to savings or credit lines.
• Business Online Banking Digital banking platform for business customers to manage accounts, view transactions, and perform banking activities online.
• Business Remote Deposit Mobile check deposit service allowing businesses to deposit checks remotely using mobile devices.
• Farm Equipment & Livestock Loans Agricultural financing for purchasing equipment and livestock with competitive rates and quick local decisions.
• Agriculture Real Estate Loans Financing for agricultural property purchase, refinance, or construction with competitive rates and flexible terms.
• Agribusiness Lines of Credit Revolving credit for ongoing agricultural operation financing, seasonal working capital, and inventory needs.
• USDA & Farmer MAC Loans Government-backed agricultural financing programs including Farmer Mac I, Farmer Mac II, and B&I Guaranteed Loan Program for qualified farming operations.
• Investment Services Wealth management and investment services offered through the bank for personal and business customers.
• ID TheftSmart (Identity Theft Protection) Identity theft protection service offered by Chelsea State Bank to help protect customer identities and provide monitoring.
• Mobile Banking App Chelsea State Bank Wallet mobile application for iOS and Android enabling account access, mobile deposit, and peer-to-peer payments via Zelle.
• Online Banking Digital banking platform providing 24/7 access to personal and business accounts for transactions, transfers, and account management.
• Treasury Management Login Dedicated digital banking portal for business treasury management services.

Named customers10 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered supporting and core.

• JTV (Southeastern Michigan Television)supportingGTM or Marketing Partner · 15 July 2025Local television station partnership for the Financial Focus program. Chelsea State Bank representatives appear regularly to discuss financial topics including identity theft prevention, fraud awareness, small business lending updates, and holiday scam avoidance.
• Allpoint NetworkcoreTechnology or IntegrationATM network partnership providing Chelsea State Bank customers with access to over 55,000 surcharge-free ATMs worldwide. This is a standard banking industry partnership that enhances customer convenience.
• IntraFi Network (CDARS/ICS)coreTechnology or IntegrationDeposit placement network allowing customers to access multi-million dollar FDIC insurance on large deposits by distributing across network banks. Enables banks to offer expanded FDIC coverage while maintaining customer deposits for local lending.
• PlinqitsupportingTechnology or IntegrationAutomated savings application partnership. Chelsea State Bank has partnered with Plinqit to offer this application enabling customers to create savings goals with automated saving and rewards. Plinqit is owned by HMDA Holdings, Dexter Michigan.
• Agri-AccesscoreStrategic or Co-development PartnerSecondary market financing participant that delivers capital solutions to a nationwide network of lenders. Supports agricultural lending by providing additional financing options for farmers.
• USDA Farm Service AgencysupportingOthersFederal agricultural lending programs available through Chelsea State Bank including Farm Loan Programs for qualified farmers.
• Farmer MaccoreStrategic or Co-development PartnerFederal Agricultural Mortgage Corporation providing financing for conventional agricultural loans and FSA Guaranteed Loan Programs. Farmer Mac I provides financing for conventional ag loans; Farmer Mac II available for operations qualifying for Farm Service Agency Guaranteed Loan Program.
• SBA (Small Business Administration)coreStrategic or Co-development PartnerSBA 7(a) loan program partner offering government-backed loans for startup and existing businesses that may have difficulty qualifying for traditional financing.
• SBA (Business & Industry B&I Guaranteed Loan Program)supportingStrategic or Co-development PartnerUSDA Rural Development B&I Guaranteed Loan Program designed to help credit-worthy rural businesses obtain financing for almost any purpose with the intent to save and create jobs in rural America.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Mercantile Bank Corporation: Michigan-based community bank holding company with personal, business, and mortgage banking services across the state. Comparable in scale, geographic focus on Michigan, and traditional community bank business model with deposit-taking and commercial lending.
• Isabella Bank: Michigan-based community bank serving personal, business, and agricultural customers across central and lower Michigan. Highly comparable given its community banking model, agricultural lending focus, and similar branch-based distribution strategy.
• Independent Bank Corporation: Michigan-based community bank holding company offering personal, business, and mortgage banking across the state. Comparable community banking approach with similar product breadth and Michigan geographic focus.
• Level One Bank: Michigan-based community bank with similar size profile and business banking focus including treasury management services. Directly comparable as a Michigan-based community bank serving SMBs and individuals with personalized service.

Broad incumbents

• Lake Michigan Credit Union: Michigan's largest credit union offering consumer and business banking products across the state. Broader and larger than Chelsea State Bank but competes for the same retail deposit and small business relationships in overlapping Michigan markets.
• Huntington Bancshares: Major regional bank headquartered in Columbus, Ohio with significant Michigan presence. A broad incumbent offering commercial, treasury management, and consumer banking products that compete with Chelsea State Bank in overlapping Michigan markets.
• Fifth Third Bank: Large regional bank with material Michigan branch presence. Broad incumbent offering commercial, treasury, consumer, and wealth services that overlap with Chelsea State Bank's offerings across the broader Michigan market.
• Old National Bancorp: Indiana-based regional bank operating across the Midwest including Michigan markets. A broad incumbent with commercial banking, treasury management, and consumer products that compete for SMB and retail relationships in Chelsea State Bank's footprint.

Emerging players

• Live Oak Bank: Digital-first community bank specializing in small business lending, particularly in agricultural and SBA lending verticals. Comparable focus on government-backed lending programs (SBA, USDA) but operates with a digital, national model rather than physical branches.
• Grasshopper Bank: Digital-native community bank focused on serving small and medium-sized businesses. Comparable target customer base (local SMBs needing treasury management and commercial banking) but uses a fully digital delivery model with no branches.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/chelseastatebank
• Instagraminstagram.com/chelseastatebank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chelsea State Bank