Bank of Ann Arbor
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.95% | 5-year CD | 5 Year Retail CD 2.35% - Synchrony Bank 60 Month CD |
| 0.30% | 1-year CD | 12 Month Retail CD 1.40% - Synchrony Bank 12 Month CD |
| 0.10% | Savings | Statement Savings |
Bank of Ann Arbor is headquartered in Ann Arbor and is the 8th largest bank in the state of Michigan. It is also the 525th largest bank in the nation. It was established in 1996 and as of March of 2017, it had grown to 215 employees at 8 locations. Bank of Ann Arbor has an A health rating.
Bank Of Ann Arbor - More Than Just Great Billboards
Living in Ann Arbor Mi offers one a lot of options with respect to your personal banking. I'll admit, I chose Bank of Ann Arbor for their clever billboard commercials. They also have even funnier radio spots, but I didn't know that until after I had been banking there for awhile. (FYI, the spots are very ingrown. You wouldn't get them unless you've lived here awhile. But they're basically anti-big chain, impersonal bank.) Anyway, despite not having the most locations in town, I liked banking here. Nice lobby. Decent hours. Solid ATM game. It's really a shame there aren't more local banks like this anymore. Very knowledgeable about the city as well as committed to the city as evidenced by how many varied events they sponsor. Overall, the experience was very good. Professional and personable tellers as well!
Friendly but Limited Service
Working with a small local bank can seem really appealing. It's comforting to know that you would be dealing with local people in your community instead of having to deal with a large institution instead of just being a number in a database. While local banks can seem inviting for being more personable, don't let that fool you.
The Bank of Ann Arbor is a good example of this. They have a warm and friendly outside, but at the end of it, they just want to manage your money while doing the least amount of work as possible. You're much better off looking elsewhere because there simply isn't much you can do with an account there. Out of state and need money without fees? Too bad, that's not what you would get from Bank of Ann Arbor.
High Fees And No Interest Rate Guarantee
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.
Data as of Q1 2017
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34120 |
| Year Established | 1996 |
| Employees | 215 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.66% |
| Return on Equity - YTD | 18.03% |
| Annual Interest Income | $15.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2017vs Q1 2016 | $1.49B$1.21B |
| Loans | Q1 2017vs Q1 2016 | $1.17B$853.3MM |
| Deposits | Q1 2017vs Q1 2016 | $1.30B$1.03B |
| Equity Capital | Q1 2017vs Q1 2016 | $142.1MM$95.4MM |
| Loan Loss Allowance | Q1 2017vs Q1 2016 | $16.8MM$15.0MM |
| Unbacked Noncurrent Loans | Q1 2017vs Q1 2016 | $5.0MM$2.6MM |
| Real Estate Owned | Q1 2017vs Q1 2016 | $809.00K$1.6MM |
Always verify rates and promotions with the bank or credit union. We are not Bank of Ann Arbor; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Bank of Ann Arbor Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.50%* | $10k* | - | Health Savings Accounts | ||
| OTHER TIERS: 0.17% → Up to $1k | 0.35% → $1k - $5k | 1.50% → $5k - $10k | |||||
| 0.10% | - | - | Statement Savings For Minors | ||
| 0.10% | - | - | Passbook Savings | ||
| 0.10% | - | - | Statement Savings | ||
Bank of Ann Arbor Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.20%* | $1m* | - | Money Market Savings | ||
| OTHER TIERS: 0.02% → Up to $25k | 0.05% → $25k - $100k | 0.10% → $100k - $500k | 0.15% → $500k - $1mm | |||||
| 0.20%* | $1m* | - | Commercial Money Market Savings | ||
| OTHER TIERS: 0.02% → $5k - $25k | 0.05% → $25k - $100k | 0.10% → $100k - $500k | 0.15% → $500k - $1mm | |||||
| 0.15%* | $1m* | - | Commercial Money Market Checking | ||
| OTHER TIERS: 0.02% → Up to $100k | 0.10% → $100k - $1mm | |||||
| 0.10%* | $10k* | - | Personal Money Market Checking | ||
| OTHER TIERS: 0.02% → Up to $2,500 | 0.05% → $2,500 - $10k | |||||
Bank of Ann Arbor Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.15%* | $100k* | - | Smart One Account | ||
| OTHER TIERS: 0.02% → $1k - $10k | 0.10% → $10k - $100k | |||||
| 0.15%* | $100k* | - | Community Interest Checking | ||
| OTHER TIERS: 0.02% → $1k - $10k | 0.10% → $10k - $100k | |||||
Bank of Ann Arbor CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 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 W. 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 |
| Bank Of Birmingham Branch | 33583 Woodward Avenue | Birmingham, MI 48009 |