Gogebic Range Bank

Overview / Commentary
155 East Cloverland Drive
Ironwood, MI 49938

Gogebic Range Bank is headquartered in Ironwood and is the 64th largest bank in the state of Michigan. It is also the 3,514th largest bank in the nation. It was established in 2002 and as of June of 2021, it had grown to 35 employees at 4 locations. Gogebic Range Bank has a B+ health rating.


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Health Grade Components

FDIC Certificate #57192
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD11.07%
Annual Interest Income$2.5MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$154.2MM$138.7MM
LoansQ2 2021vs Q2 2020$69.3MM$81.0MM
DepositsQ2 2021vs Q2 2020$139.4MM$121.9MM
Equity CapitalQ2 2021vs Q2 2020$14.2MM$14.2MM
Loan Loss AllowanceQ2 2021vs Q2 2020$1.4MM$1.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$2.0MM$1.3MM
Real Estate OwnedQ2 2021vs Q2 2020$3.00K$78.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Gogebic Range Bank Money Market Rates

0.10%*$100k*-Personal Money Market
OTHER TIERS: 0.02% $1k - $25k | 0.04% $25k - $50k | 0.06% $50k - $75k | 0.08% $75k - $100k
0.10%*$100k*$10mBusiness Money Market
OTHER TIERS: 0.02% $1k - $25k | 0.04% $25k - $50k | 0.06% $50k - $75k | 0.08% $75k - $100k

Gogebic Range Bank CD Rates

0.45%$500-60 Month Personal CD
0.45%$500-Business 60 Month CD
0.40%$500-48 Month Personal CD
0.40%$500-Business 48 Month CD
0.35%$500-36 Month Personal CD
0.35%$500-Business 36 Month CD
0.30%$500-24 Month Personal CD
0.30%$500-Business 24 Month CD
0.20%$500-12 Month Personal CD
0.20%$500-Business 12 Month CD
0.10%$500-6 Month Personal CD
0.10%$500-Business 6 Month CD

Gogebic Range Bank IRA Rates

0.45%$1k-60 Month IRA
0.40%$1k-48 Month IRA
0.35%$1k-36 Month IRA
0.30%$1k-24 Month IRA
0.20%$1k-12 Month IRA
0.10%$1k-6 Month IRA

Gogebic Range Bank Locations
Gogebic Range Bank155 East Cloverland DriveIronwood, MI 49938
Bessemer Branch300 South Sophie StreetBessemer, MI 49911
Bergland Branch649 West Highway, M-28Bergland, MI 49910
Ewen Branch207 Cedar StreetEwen, MI 49925

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