SBA lender · 7(a) program
First State Bank
First State Bank has approved 370 SBA loans worth $245.4M since FY2010 - the #315 SBA lender in the country by dollars approved. Everything below comes from the SBA’s own loan-level records.
National rank
#315
0.05% of all SBA dollars
Total approved
$245.4M
FY2010 onward
Loans
370
Median loan
$305,650
+70% vs national
Median rate
6.00%
-0.75 pts vs national
Charge-off rate
5.8%
174 resolved FY10-19 loans
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Reading the record
What First State Bank’s numbers say
First State Bank sits in the long tail of the SBA lending field, having approved 370 loans for a gross total of $245.4M since fiscal 2010. Its median loan of $305,650 is substantially larger than the $180,000 national median, which usually signals a focus on real-estate-backed or acquisition deals rather than small working-capital notes.
The median initial note rate across its 7(a) approvals is 6.00%, 0.75 points below the national median of 6.75%. Rate medians drawn across fifteen years reflect the mix of loan sizes and vintages a lender wrote as much as its pricing posture - a lender that grew fastest during a high-rate stretch will look expensive here even if its spread was ordinary.
Of its FY2010-FY2019 approvals that have reached a terminal status, 5.8% were charged off, 1.8 points below the national figure of 7.6%. Read that as a description of the credit box a lender chose, not as a verdict on it: lenders serving newer businesses and thinner files will always show higher losses than those writing large, collateralised acquisition loans.
Roughly 16% of its approvals went to businesses the SBA classified as new rather than existing, against 11% nationally.
Where First State Bank lends
| State | Loans | Share |
|---|---|---|
| Michigan | 122 | |
| Texas | 89 | |
| Oklahoma | 32 | |
| Arkansas | 25 | |
| Mississippi | 25 | |
| Iowa | 19 | |
| Wisconsin | 19 | |
| North Dakota | 12 |
What it lends against
Source: U.S. Small Business Administration, SBA 7(a) and 504 FOIA data, as of 2026-06-30. Approvals from FY2010 onward. How we calculate this.
Questions about First State Bank
- How many SBA loans has First State Bank approved?
- First State Bank has approved 370 SBA loans totalling $245,379,600 in gross approvals from fiscal year 2010 through the most recent SBA data release. That places it #315 among all SBA lenders by dollars approved.
- What is the typical First State Bank SBA loan size?
- The median gross approval is $305,650, with the middle 80% of loans falling between $75,000 and $1,688,000. The national median across all SBA lenders is $180,000.
- What interest rate does First State Bank charge on SBA 7(a) loans?
- The median initial note rate on First State Bank's 7(a) approvals is 6.00%, compared with a national median of 6.75%. This is a historical median across all approvals since FY2010, not a quote - SBA 7(a) rates are pegged to a base rate that moves, and your rate depends on loan size, term, and credit profile.
- What is First State Bank's SBA loan charge-off rate?
- 5.8% of its FY2010-FY2019 approvals that have reached a terminal status were charged off, against a national figure of 7.6%. A charge-off rate reflects the borrowers a lender chose to underwrite as much as anything else, and is not a measure of service quality.
Where to go from here
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