Honor Bank

Overview / Commentary

www.myhonorbank.com

231-639-1701

2254 Henry Street
Honor, MI 49640

Honor Bank is headquartered in Honor and is the 47^th largest bank in the state of Michigan. It is also the 2,190^th largest bank in the nation. It was established in 1917 and as of March of 2022, it had grown to 77 employees at 9 locations. Honor Bank has an A health rating.

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Health

Data as of Q1 2022

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Health Grade Components

Overall
FDIC Certificate #	8165
Year Established	1917
Employees	77
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.98%
Return on Equity - YTD	12.27%
Annual Interest Income	$2.9MM

Assets and Liabilities
Assets	Q1 2022vs Q1 2021	$365.8MM$324.2MM
Loans	Q1 2022vs Q1 2021	$235.5MM$251.0MM
Deposits	Q1 2022vs Q1 2021	$335.0MM$294.6MM
Equity Capital	Q1 2022vs Q1 2021	$29.2MM$27.0MM
Loan Loss Allowance	Q1 2022vs Q1 2021	$3.2MM$3.0MM
Unbacked Noncurrent Loans	Q1 2022vs Q1 2021	$98.00K$349.00K
Real Estate Owned	Q1 2022vs Q1 2021	$72.00K$180.00K

Rates

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Honor Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.25%^*	$100k^*	-	Front Street Money Market - New Money
OTHER TIERS: 0.10% → Up to $10k \| 0.17% → $10k - $100k

Locations

Honor Bank Locations
Buckley Branch	117 East Wexford Avenue	Buckley, MI 49620
Garfield Avenue Branch	1112 South Garfield Avenue	Traverse City, MI 49686
Bear Lake Branch	11926 Chippewa Highway	Bear Lake, MI 49614
Benzonia Branch	1720 Benzie Highway	Benzonia Township, MI 49616
Copemish Branch	18075 Cadillac Highway	Copemish, MI 49625
Honor Bank	2254 Henry St	Honor, MI 49640
Lake Ann Branch	Maple Avenue and Second Street	Lake Ann Village, MI 49650
Honor Bank	430 S Union St	Traverse City, MI 49684

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