Gogebic Range Bank

Overview / Commentary
155 East Cloverland Drive
Ironwood, MI 49938

Gogebic Range Bank is headquartered in Ironwood and is the 63rd largest bank in the state of Michigan. It is also the 3,460th largest bank in the nation. It was established in 2002 and as of March of 2022, it had grown to 34 employees at 4 locations. Gogebic Range Bank has a C+ health rating.


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Health Grade Components

FDIC Certificate #57192
Year Established2002
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD9.07%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$155.5MM$155.8MM
LoansQ1 2022vs Q1 2021$55.6MM$70.1MM
DepositsQ1 2022vs Q1 2021$144.1MM$141.5MM
Equity CapitalQ1 2022vs Q1 2021$10.7MM$13.8MM
Loan Loss AllowanceQ1 2022vs Q1 2021$1.5MM$1.4MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$1.8MM$1.1MM
Real Estate OwnedQ1 2022vs Q1 2021$53.00K$3.00K

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Gogebic Range Bank Locations
Gogebic Range Bank155 E Cloverland DrIronwood, 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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