Bank of Ann Arbor is headquartered in Ann Arbor and is the 11st largest bank in the state of Michigan. It is also the 685th largest bank in the nation. It was established in 1996 and as of December of 2013, it had grown to 159 employees at 7 locations. Bank of Ann Arbor's savings rates are 5X the national average, and it has a A health rating.
While the 2.8% rate is good as of 8.22.13, it is a drop from a higher rate as of February according to the official in charge of HSA policy at the bank. He did assure that it wasn't likely to drop drastically but he was honest about the fact that the trend is toward lowered rates over time. I'm disappointed by the high fees, $4 a month, and $12 to open the account. There is no fee to transfer out the HSA to another institution. The checks cost $3 for a book of 20 checks, but the debit card is free.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Bank of Ann Arbor had $3.87 million in non-current loans and owned real-estate with $78.68 million in equity and loan loss allowances on hand to cover it. This gives Bank of Ann Arbor a Texas Ratio of 4.92% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Bank of Ann Arbor held steady from 4.17% as of December 31, 2012 to 4.92% as of December 31, 2013, resulting in a negative change of 17.81%. This indicates that the balance sheet and financial strength for Bank of Ann Arbor has held steady in recent periods.
In the past year, Bank of Ann Arbor has increased its total deposits by $53.6 million, resulting in 6.75% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank of Ann Arbor has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank of Ann Arbor has $970.07 million in assets with $78.68 million in equity, resulting in a capitalization level of 8.11%, which is average.
|FDIC Certificate #||34120|
|Assets and Liabilities|
|Equity Capital||$67.41 million|
|Loan Loss Allowance||$11.27 million|
|Unbacked Noncurrent Loans||$2.49 million|
|Real Estate Owned||$1.38 million|
|Historic Data - December 2012|
|Equity Capital||$63.14 million|
|Loan Loss Allowance||$10.95 million|
|Unbacked Noncurrent Loans||$2.49 million|
|Real Estate Owned||$393,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.06%|
|Return on Assets||1.1%|
|Return on Equity||15.21%|
|Interest Income||$36.25 million|
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|2.50%||$10k||-||Health Savings Accounts|
|0.10%||-||-||Statement Savings For Minors|
|0.20%||$1m||-||Money Market Savings|
|0.20%||$1m||-||Commercial Money Market Savings|
|0.15%||$1m||-||Commercial Money Market Checking|
|0.15%||$100k||-||Smart One Account|
|0.15%||$100k||-||Community Interest Checking|
|0.10%||$10k||-||Personal Money Market Checking|
|0.95%||$1k||$100k||5 Year Retail CD|
|0.70%||$1k||$100k||4 Year Retail CD|
|0.40%||$1k||$100k||2 Year Retail CD|
|0.40%||$100k||-||270 - 365 Day Jumbo CD|
|0.35%||$1k||$100k||18 Month Retail CD|
|0.30%||$1k||$100k||12 Month Retail CD|
|0.30%||$100k||-||180-269 Day Jumbo CD|
|0.25%||$1k||$100k||6 Month Retail CD|
|0.25%||$100k||-||120 - 179 Day Jumbo CD|
|0.20%||$100k||-||90 - 119 Day Jumbo CD|
|0.15%||$1k||$100k||3 Month Retail CD|
|0.15%||$100k||-||30 - 89 Day Jumbo CD|
|0.10%||$100k||-||7 - 29 Day Jumbo CD|
|Bank of Ann Arbor Locations|
|Bank Of Ann Arbor||125 South Fifth Avenue||Ann Arbor, MI 48107|
|New Liberty Bank Branch||1333 Ann Arbor Road||Plymouth, MI 48170|
|Saline Mi Branch||179 East Michigan Avenue||Saline, MI 48176|
|Stadium Branch||2204 West Stadium Boulevard||Ann Arbor, MI 48103|
|Plymouth Road Branch||2601 Plymouth Road||Ann Arbor, MI 48105|
|Ypsilanti Branch||7 West Michigan Avenue||Ypsilanti, MI 48197|
|Ellsworth Road Branch||801 West Ellsworth Road||Ann Arbor, MI 48108|