diff --git a/CHANGES b/CHANGES
index 75bf259ba..6c78e6486 100644
--- a/CHANGES
+++ b/CHANGES
@@ -1,5 +1,6 @@
 0.9.4: (Future)
 Emulation fixes:
+ - GB Serialize: Fix loading MBC1 states that affect bank 0 (fixes mgba.io/i/2402)
  - GBA I/O: Disable open bus behavior on invalid register 06A
  - GBA Video: Ignore horizontally off-screen sprite timing (fixes mgba.io/i/2391)
 Other fixes:
diff --git a/src/gb/memory.c b/src/gb/memory.c
index fec8bf2ab..d79907d2c 100644
--- a/src/gb/memory.c
+++ b/src/gb/memory.c
@@ -796,7 +796,7 @@ void GBMemoryDeserialize(struct GB* gb, const struct GBSerializedState* state) {
 			memory->mbcState.mbc1.bankHi = memory->currentBank >> memory->mbcState.mbc1.multicartStride;
 		}
 		if (memory->mbcState.mbc1.mode) {
-			GBMBCSwitchBank0(gb, memory->mbcState.mbc1.bankHi);
+			GBMBCSwitchBank0(gb, memory->mbcState.mbc1.bankHi << memory->mbcState.mbc1.multicartStride);
 		}
 		break;
 	case GB_MBC3_RTC: