SBA lender profile
1st State Bank
1st State Bank appears in the public SBA loan data with 65 funded 7(a) loans totaling $27.8M, an average of $427K per loan, and an estimated 720 jobs supported. Its SBA lending concentrates in Michigan and the Construction sector. Across all of its loans in the data, its charge-off rate is 0.0%.
By Mario Bailey · Source: SBA FOIA 7(a) and 504 data, as of 2026-03-31
Funded loans
65
Total volume
$27.8M
Average loan size
$427K
Charge-off rate
0.0%
Share of funded loans charged off
Jobs supported (reported)
720
Programs
7(a)
Bank profile
via FDIC- Total assets
- $370M
- Headquarters
- Burlington, NC
- FDIC cert
- #27789
- Status
- Inactive
Where 1st State Bank lends
Top states by funded SBA volume.
What 1st State Bank funds
Top industries by funded SBA volume.
| Industry | Loans | Total volume |
|---|---|---|
| Construction | 7 | $8.4M |
| Retail Trade | 5 | $3.9M |
| Accommodation and Food Services | 11 | $3.8M |
| Health Care and Social Assistance | 10 | $2.1M |
| Wholesale Trade | 5 | $1.6M |
| Other Services | 5 | $1.6M |
1st State Bank SBA lending by year
| Fiscal year | Loans | Total volume |
|---|---|---|
| 2020 | 12 | $8.2M |
| 2021 | 16 | $5.1M |
| 2022 | 7 | $3.8M |
| 2023 | 11 | $2.2M |
| 2024 | 4 | $1.5M |
| 2025 | 14 | $6.7M |
| 2026 | 1 | $265K |
Sources and disclaimer. All figures are computed from
the U.S. Small Business Administration's public FOIA 7(a) and 504 loan data (as of 2026-03-31),
as described in our methodology.
The charge-off rate is the share of 1st State Bank's funded loans marked charged off across all of its
loans in the data; it is not a lifetime default rate. SBA Loan Index is not affiliated with the
SBA and is not a lender, broker, or financial advisor. This is general information, not advice.
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