Gogebic Range Bank


Overview / Commentary
906-932-7646
155 East Cloverland Drive
Ironwood, MI 49938

Gogebic Range Bank is headquartered in Ironwood and is the 66th largest bank in the state of Michigan. It is also the 3,593rd largest bank in the nation. It was established in 2002 and as of June of 2020, it had grown to 37 employees at 4 locations. Gogebic Range Bank has an A health rating.

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Health

Health Grade Components

Overall
FDIC Certificate #57192
Year Established2002
Employees37
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.93%
Return on Equity - YTD8.79%
Annual Interest Income$2.6MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$138.7MM$125.3MM
LoansQ2 2020vs Q2 2019$81.0MM$73.9MM
DepositsQ2 2020vs Q2 2019$121.9MM$110.9MM
Equity CapitalQ2 2020vs Q2 2019$14.0MM$13.7MM
Loan Loss AllowanceQ2 2020vs Q2 2019$1.2MM$1.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$1.3MM$992.00K
Real Estate OwnedQ2 2020vs Q2 2019$78.00K$161.00K
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
0.25%*$100k*-Personal Money Market
OTHER TIERS: 0.05% $1k - $25k | 0.10% $25k - $50k | 0.15% $50k - $75k | 0.20% $75k - $100k
0.25%*$100k*$10mBusiness Money Market
OTHER TIERS: 0.05% $1k - $25k | 0.10% $25k - $50k | 0.15% $50k - $75k | 0.20% $75k - $100k

Gogebic Range Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.81%$500-60 Month Personal CD
0.81%$500-Business 60 Month CD
0.65%$500-36 Month Personal CD
0.65%$500-Business 36 Month CD
0.55%$500-24 Month Personal CD
0.55%$500-Business 24 Month CD
0.50%$500-48 Month Personal CD
0.50%$500-Business 48 Month CD
0.35%$500-12 Month Personal CD
0.35%$500-Business 12 Month CD
0.20%$500-6 Month Personal CD
0.20%$500-Business 6 Month CD

Gogebic Range Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.81%$1k-60 Month IRA
0.65%$1k-36 Month IRA
0.55%$1k-24 Month IRA
0.50%$1k-48 Month IRA
0.35%$1k-12 Month IRA
0.20%$1k-6 Month IRA
Locations


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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