Honor Bank

Overview / Commentary
2254 Henry Street
Honor, MI 49640

Honor Bank is headquartered in HONOR and is the 43rd largest bank in the state of Michigan. It is also the 2,103rd largest bank in the nation. It was established in 1917 and as of March of 2024, it had grown to 75 employees at 9 locations. Honor Bank has an A health rating.


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Health Grade Components

FDIC Certificate #8165
Year Established1917
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.17%
Return on Equity - YTD12.79%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$386.8MM$380MM
LoansQ1 2024vs Q1 2023$294.8MM$274.9MM
DepositsQ1 2024vs Q1 2023$345MM$331.2MM
Equity CapitalQ1 2024vs Q1 2023$35.1MM$31.8MM
Loan Loss AllowanceQ1 2024vs Q1 2023$3.9MM$3.6MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$102K$85K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Honor Bank Money Market Rates

0.15%*$100k*-Front Street Money Market - New Money
OTHER TIERS: 0.08% $0 - $10k | 0.10% $10k - $100k

Honor Bank Locations
Buckley Branch117 East Wexford AvenueBuckley, MI 49620
Garfield Avenue Branch1112 South Garfield AvenueTraverse City, MI 49686
Bear Lake Branch11926 Chippewa HighwayBear Lake, MI 49614
Benzonia Branch1720 Benzie HighwayBenzonia Township, MI 49616
Copemish Branch18075 Cadillac HighwayCopemish, MI 49625
Honor Bank2254 Henry StHonor, MI 49640
Lake Ann BranchMaple Avenue and Second StreetLake Ann Village, MI 49650
Honor Bank430 S Union StTraverse City, MI 49684

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