Central Savings Bank, Financial Information

About Central Savings Bank

 Address:
511 Bingham Avenue
Sault Sainte Marie, MI
Chippewa County, Michigan
 Established:
Dec 1902
 Number of domestic offices:
9
Total assets$328M
Net income$3M
Net income, quarterly$1M
Total deposits$293M
Domestic deposits$293M
Equity capital$33M
ROA1.04%
ROAQ, quarterly0.81%
ROA, pretax0.81%
ROAQ, quarterly, pretax1.04%
ROE9.18%
ROEQ, quarterly7.92%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

On December 2, 1902, a Certificate of Authority to Commence Business was issued, along with 500 stock certificates to its 18 original Central Savings Bank shareholders. In June of 1904, CSB merged with Chippewa County Savings Bank and business continued at Ashmun Street location in Sault Ste. Marie. In 1908, CSB’s financial statement declared a total capital of $100,000, with assests totaling $345,198. On December 2, 2002, CSB commemorated its 100th anniversary with a drawing for 100 prizes, drawn live on WSOO 1230AM.

Central Savings Bank offers a variety of mortgage options to fit your needs. From Fannie Mae Mortgages with a variety of terms available to CSB in house mortgage, with flexible terms to let the bank help you find the best mortgage product for your needs. Central Savings Bank offers Checking Accounts, Business Checking Accounts, Savings Accounts, CD's, IRA's.

Main Branch
511 Bingham Avenue
P.O. Box 339
Sault Ste. Marie, MI 49783
Phone: 906-635-6250
Fax: 906-635-6293

Sault Ste. Marie Business Spur
3501 I-75 Business Spur
P.O. Box 339
Sault Ste. Marie, MI 49783
Phone: 906-635-8320
Fax: 906-635-8361

Kinross
4693 West M-80
Kincheloe, MI 49788
Phone: 906-495-5457
Fax: 906-495 5752

Cedarville
143 West M-134
P.O. Box 454
Cedarville, MI 49719
Phone: 906-484-2036
Fax: 906-484-3828

Pickford
150 East Main Street
P.O. Box 48
Pickford, MI 49774
Phone: 906-647-9191
Fax: 906-647-6704

St. Ignace
430 North State St.
St Ignace, MI 49781
Phone: 906-643-9781
Fax: 906-643-6455

Detour/Drummond
109 Elizabeth St.
P.O. Box 188
DeTour Village, MI 49725
Phone: 906-297-6901
Fax: 906-297-6907

Rudyard
11256 West Main Street
P.O. Box 397
Rudyard, MI 49780
Phone: 906-478-7501
Fax: 906-478-4709

Mackinac Island
21 Hoban Street
P.O. Box 1548
Mackinac Island, MI 49757
Phone: 906-847-3759
Fax: 906-847-3799