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Overview / Commentary
810-679-2500
65 North Howard Avenue
Croswell, MI 48422

Eastern Michigan Bank is headquartered in Croswell and is the 41st largest bank in the state of Michigan. It is also the 2,298th largest bank in the nation. It was established in 1895 and as of December of 2013, it had grown to 84 employees at 11 locations. Eastern Michigan Bank has a B+ health rating.

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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B+

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 Eastern Michigan Bank had $3.89 million in non-current loans and owned real-estate with $28.06 million in equity and loan loss allowances on hand to cover it. This gives Eastern Michigan Bank a Texas Ratio of 13.88% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Eastern Michigan Bank decreased dramatically from 23.05% as of December 31, 2012 to 13.88% as of December 31, 2013, resulting in a positive change of 39.79%.This indicates that the balance sheet and financial strength for Eastern Michigan Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A

In the past year, Eastern Michigan Bank has increased its total deposits by $9.25 million, resulting in 3.81% 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 Eastern Michigan Bank has shown is excellent.

Capitalization

GRADE:
B+

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. Eastern Michigan Bank has $279.38 million in assets with $28.06 million in equity, resulting in a capitalization level of 10.04%, which is above average.

Institution Statistics

Overall
FDIC Certificate #982
Year Established1895
Employees84
Primary RegulatorFED
Assets and Liabilities
Assets$279.38 million
Loans$134.72 million
Deposits$252.29 million
Equity Capital$26.30 million
Loan Loss Allowance$1.76 million
Unbacked Noncurrent Loans$2.60 million
Real Estate Owned$1.30 million
Historic Data - December 2012
Assets$270.47 million
Equity Capital$26.46 million
Loan Loss Allowance$2.76 million
Unbacked Noncurrent Loans$2.60 million
Real Estate Owned$2.76 million
Profit Margin - Quarterly
Net Interest Margin3.27%
Return on Assets0.69%
Return on Equity7.15%
Interest Income$8.97 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Eastern Michigan Bank, we are a rate comparison website and can not provide official rates or promotions.

Eastern Michigan Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-Statement Savings
0.05%--365 Club Savings
0.05%--Sunny Savers Account

Eastern Michigan Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.20%$100k-Prestige Money Market Savings

Eastern Michigan Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100k-Interest Checking
0.10%$100k-Advantage 50 Checking
0.03%$500-Hometown Checking
0.03%--Hometown Checking Plus

Eastern Michigan Bank CD Rates

DetailsAPYMINMAXPRODUCT
0.90%$500-60 Month CD
0.65%$500-48 Month CD
0.60%$2,500-36 Month Adv 50 Club CD
0.50%$500-36 Month CD
0.40%$2,500-24 Month Adv 50 Club CD
0.30%$500-24 Month CD
0.30%$500-30 Month CD
0.25%$2,500-12 Month Adv 50 Club CD
0.15%$500-12 Month CD
0.10%$500-6 Month CD
0.10%$500-9 Month CD

Eastern Michigan Bank IRA Rates

DetailsAPYMINMAXPRODUCT
0.90%$1k-60 Month IRA (Traditional,Roth,CESA)
0.65%$1k-48 Month IRA (Traditional,Roth,CESA)
0.50%$1k-36 Month IRA (Traditional,Roth,CESA)
0.30%$1k-24 Month IRA (Traditional,Roth,CESA)
0.30%$1k-30 Month IRA (Traditional,Roth,CESA)
0.15%$1k-12 Month IRA (Traditional,Roth,CESA)
0.10%$1k-6 Month IRA (Traditional,Roth,CESA)
0.10%$1k-9 Month IRA (Traditional,Roth,CESA)
Locations


Eastern Michigan Bank Locations
Minden City Branch1728 Main StreetMinden City, MI 48456
Marysville Branch2970 Gratiot BoulevardMarysville, MI 48040
Fort Gratiot Office3061 Krafft RoadFort Gratiot, MI 48059
Sandusky Area Branch324 South Elk StreetSandusky, MI 48471
Deckerville Branch3636 Main StreetDeckerville, MI 48427
Drive-In Branch5200 East Peck RoadCroswell, MI 48422
Lexington Branch5446 Main StreetLexington, MI 48450
Port Huron Branch600 Water StreetPort Huron, MI 48060
Eastern Michigan Bank65 North Howard AvenueCroswell, MI 48422
Lakeport Branch7090 Lakeshore RoadPort Huron, MI 48060