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Gogebic Range Bank

Popular Accounts at this Bank

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
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 5,041st largest bank in the nation. It was established in 2002 and as of June of 2016, it had grown to 22 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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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

FDIC Certificate #57192
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.16%
Return on Equity - YTD9.69%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$68.9MM$67.5MM
LoansQ2 2016vs Q2 2015$50.9MM$48.7MM
DepositsQ2 2016vs Q2 2015$59.0MM$58.8MM
Equity CapitalQ2 2016vs Q2 2015$8.5MM$8.6MM
Loan Loss AllowanceQ2 2016vs Q2 2015$1.1MM$1.0MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$950.00K$722.00K
Real Estate OwnedQ2 2016vs Q2 2015$222.00K$258.00K
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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

0.55%*$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

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

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

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