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 53^rd largest bank in the state of Michigan. It is also the 2,511^th largest bank in the nation. It was established in 1917 and as of September of 2019, it had grown to 72 employees at 9 locations. Honor Bank's money market rates are 36% higher than the national average, and it has a B+ health rating.

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Health

B+

Data as of Q3 2019

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Health Grade Components

Overall
FDIC Certificate #	8165
Year Established	1917
Employees	72
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.1%
Return on Equity - YTD	12.02%
Annual Interest Income	$8.0MM

Assets and Liabilities
Assets	Q3 2019vs Q3 2018	$249.2MM$244.8MM
Loans	Q3 2019vs Q3 2018	$190.7MM$188.1MM
Deposits	Q3 2019vs Q3 2018	$219.4MM$214.0MM
Equity Capital	Q3 2019vs Q3 2018	$22.9MM$21.0MM
Loan Loss Allowance	Q3 2019vs Q3 2018	$2.5MM$2.2MM
Unbacked Noncurrent Loans	Q3 2019vs Q3 2018	$866.00K$361.00K
Real Estate Owned	Q3 2019vs Q3 2018	$588.00K$696.00K

Rates

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Savings
Money Market
Checking
CD
IRA

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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 Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$1m^*	-	Tiered Rate Business Savings
OTHER TIERS: 0.06% → Up to $10k \| 0.11% → $10k - $150k \| 0.15% → $150k - $500k \| 0.20% → $500k - $1m
0.06%	-	-	Personal Savings

Honor Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.40%^*	$100k^*	-	Front Street Money Market - New Money
OTHER TIERS: 0.41% → Up to $10k \| 1.00% → $10k - $100k
0.60%^*	$250k^*	-	Super Money Market
OTHER TIERS: 0.05% → Up to $25k \| 0.10% → $25k - $50k \| 0.30% → $50k - $100k \| 0.40% → $100k - $250k
0.25%^*	$500k^*	-	Money Market
OTHER TIERS: 0.05% → Up to $10k \| 0.10% → $10k - $50k \| 0.15% → $50k - $150k \| 0.20% → $150k - $500k

Honor Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.01%^*	-	$10k	Kasasa Cash
OTHER TIERS: 0.26% → $10k+
1.11%^*	$100k^*	-	Business Plus Checking
OTHER TIERS: 0.10% → Up to $10k \| 0.20% → $10k - $50k \| 0.25% → $50k - $100k
0.30%^*	$150k^*	-	High Performance Checking w/ Direct Deposit
OTHER TIERS: 0.08% → Up to $2.5k \| 0.15% → $2.5k - $10k \| 0.20% → $10k - $50k \| 0.25% → $50k - $150k
0.25%^*	$150k^*	-	High Performance Checking w/o Direct Deposit
OTHER TIERS: 0.08% → Up to $2.5k \| 0.10% → $2.5k - $10k \| 0.15% → $10k - $50k \| 0.20% → $50k - $150k
0.06%	-	-	NOW Account Checking
0.06%	-	-	Prime Time Interest Checking

Honor Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.10%^*	$10k^*	-	60 Month CD
OTHER TIERS: 0.70% → $500 - $10k
1.05%^*	$10k^*	-	42 Month CD
OTHER TIERS: 0.65% → $500 - $10k
1.00%^*	$10k^*	-	30 Month CD
OTHER TIERS: 0.50% → $500 - $10k
0.90%^*	$10k^*	-	24 Month CD
OTHER TIERS: 0.45% → $500 - $10k
0.80%^*	$10k^*	-	18 Month CD
OTHER TIERS: 0.40% → $500 - $10k
0.75%^*	$10k^*	-	12 Month CD
OTHER TIERS: 0.30% → $1k - $10k
0.70%^*	$10k^*	-	182 Day CD
OTHER TIERS: 0.15% → $2.5k - $10k
0.35%^*	$10k^*	-	91 Day CD
OTHER TIERS: 0.10% → $2.5k - $10k
0.03%	$2.5k	-	31 Day CD

Honor Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.10%^*	$10k^*	-	60 Month IRA
OTHER TIERS: 0.70% → $500 - $10k
1.05%^*	$10k^*	-	42 Month IRA
OTHER TIERS: 0.65% → $500 - $10k
1.00%^*	$10k^*	-	30 Month IRA
OTHER TIERS: 0.50% → $500 - $10k
0.90%^*	$10k^*	-	24 Month IRA
OTHER TIERS: 0.45% → $500 - $10k
0.80%^*	$10k^*	-	18 Month IRA
OTHER TIERS: 0.40% → $500 - $10k
0.75%^*	$10k^*	-	12 Month IRA
OTHER TIERS: 0.30% → $1k - $10k

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 Street	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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