Gogebic Range Bank

Gogebic Range Bank is headquartered in Ironwood and is the 116^st largest bank in the state of Michigan. It is also the 5,893^rd largest bank in the nation. It was established in 2002 and as of March of 2012, it had grown to 21 employees at 2 locations. Gogebic Range Bank's CD rates are 39% higher than the national average, and it boasts a 5-star health rating.

Gogebic Range Bank Routing Number: 091114112

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Data for Q1 2012

Institution Statistics Gogebic Range Bank FDIC Certificate # 57192 BankRate Report View Year Established 2002 Employees 21 Primary Regulator FDIC Assets and Liabilities Assets $65.82 million Loans $48.26 million Deposits $58.29 million Equity Capital $7.24 million Loan Loss Allowance $804,000 Unbacked Noncurrent Loans $859,000 Real Estate Owned $245,000 Historic Data - March 2011 Assets $61.57 million Equity Capital $6.76 million Loan Loss Allowance $806,000 Unbacked Noncurrent Loans $732,000 Real Estate Owned $46,000 Profit Margin - Quarterly Net Interest Margin 5.46% Return on Assets 1.06% Return on Equity 9.62% Interest Income $919,000

Institution Health Overall Score: 5 out of 5 Texas Ratio 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 March 31, 2012 Gogebic Range Bank had $1.1 million in non-current loans and owned real-estate with $8.04 million in equity and loan loss allowances on hand to cover it. This gives Gogebic Range Bank a Texas Ratio of 13.72% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Gogebic Range Bank held steady from 10.28% as of March 31, 2011 to 13.72% as of March 31, 2012, resulting in a negative change of 33.47%. This indicates that the balance sheet and financial strength for Gogebic Range Bank has held steady in recent periods. Deposit Growth In the past year, Gogebic Range Bank has increased its total deposits by $3.67 million, resulting in 6.73% 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 Gogebic Range Bank has shown is excellent. Capitalization 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. Gogebic Range Bank has $65.82 million in assets with $8.04 million in equity, resulting in a capitalization level of 12.22%, which is excellent.

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