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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 87th largest bank in the state of Michigan. It is also the 4,848th largest bank in the nation. It was established in 2002 and as of March of 2017, 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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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 - YTD1.36%
Return on Equity - YTD11.9%
Annual Interest Income$901.00K
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$73.0MM$70.1MM
LoansQ1 2017vs Q1 2016$54.0MM$49.0MM
DepositsQ1 2017vs Q1 2016$63.9MM$61.5MM
Equity CapitalQ1 2017vs Q1 2016$8.5MM$8.3MM
Loan Loss AllowanceQ1 2017vs Q1 2016$954.00K$1.1MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$454.00K$789.00K
Real Estate OwnedQ1 2017vs Q1 2016$230.00K$209.00K
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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
Bergland Branch100 M 28 WestBergland, MI 49910
Ewen Branch207 Cedar StreetEwen, MI 49925