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Gogebic Range Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.15%5-year CD60 Month Personal CD
0.65%1-year CD12 Month Personal CD
1.05%4-year CD48 Month Personal CD

Overview / Commentary
906-663-4520
155 East Cloverland Drive
Ironwood, MI 49938

Gogebic Range Bank is headquartered in Ironwood and is the 92nd largest bank in the state of Michigan. It is also the 4,944th largest bank in the nation. It was established in 2002 and as of September of 2016, it had grown to 21 employees at 2 locations. Gogebic Range Bank's money market rates are 25% higher than the national average, and it has a B+ health rating.

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Health
B+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Gogebic Range Bank has a relatively low asset base.

Health Grade Components

Overall
FDIC Certificate #57192
Year Established2002
Employees21
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.26%
Return on Equity - YTD10.44%
Annual Interest Income$2.6MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$71.1MM$67.0MM
LoansQ3 2016vs Q3 2015$53.5MM$47.0MM
DepositsQ3 2016vs Q3 2015$62.2MM$58.0MM
Equity CapitalQ3 2016vs Q3 2015$8.7MM$8.9MM
Loan Loss AllowanceQ3 2016vs Q3 2015$1.0MM$1.1MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$535.00K$768.00K
Real Estate OwnedQ3 2016vs Q3 2015$177.00K$241.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.55%*$100k*-Personal Money Market
OTHER TIERS: 0.15% $1k - $25k | 0.25% $25k - $50k | 0.35% $50k - $75k | 0.45% $75k - $100k
0.55%*$100k*$10mBusiness Money Market
OTHER TIERS: 0.15% $1k - $25k | 0.25% $25k - $50k | 0.35% $50k - $75k | 0.45% $75k - $100k

Gogebic Range Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%$500-60 Month Personal CD
1.15%$500-Business 60 Month CD
1.05%$500-48 Month Personal CD
1.05%$500-Business 48 Month CD
0.95%$500-36 Month Personal CD
0.95%$500-Business 36 Month CD
0.85%$500-24 Month Personal CD
0.85%$500-Business 24 Month CD
0.65%$500-12 Month Personal CD
0.65%$500-Business 12 Month CD
0.45%$500-6 Month Personal CD
0.45%$500-Business 6 Month CD

Gogebic Range Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%$1k-60 Month IRA
1.05%$1k-48 Month IRA
0.95%$1k-36 Month IRA
0.85%$1k-24 Month IRA
0.65%$1k-12 Month IRA
0.45%$1k-6 Month IRA
Locations


Gogebic Range Bank Locations
Gogebic Range Bank155 East Cloverland DriveIronwood, MI 49938
Bessemer Branch300 South Sophie StreetBessemer, MI 49911