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Main Street Bank (MI)

Popular Accounts at this Bank

2.25%Reward CheckingKasasa Cash
2.00%1-year CD12 Month CD
1.00%Reward SavingsKasasa Saver

Overview / Commentary
31780 Telegraph Road
Bingham Farms, MI 48025

Main Street Bank (MI) is headquartered in Bingham Farms and is the 56th largest bank in the state of Michigan. It is also the 2,615th largest bank in the nation. It was established in 2005 and as of March of 2018, it had grown to 98 employees at 2 locations. Main Street Bank (MI)'s CD rates are 2X the national average, and it has an A health rating.

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Statement Cycle

Posted by: elarh | Sep 8, 2017

Does the statement cycle coincide with a calendar month? If not, what is the statement date?

Fantastic Customer Service Bank

This bank goes out of its way to help its cus tomers. I love there Kasasa Cash checking. It is a great checking account with easy requirements to earn a high interest rate. I have worked for 3 banks and I find this bank easy to understand and great interest on all there banking products. If you need help they are a phone call away with live people not recordings. I live in Florida but would not bank daily with any other bank. Love this bank.

Wish They Were Easier

Posted by: crocpa | Apr 11, 2016

This bank has friendly responsible staff and they pick up the phone when you call. I wish they were easier to transact with though. Their mobile deposit has a $1.5K limit. The atm daily limit is $300. I recently called to place a claim for a double charge and was told to go back to the merchant. After requesting the account disclosure and 5 emails later was I referred to the branch supervisor to place a claim. I recommend the bank, just wish they would make it easier.

Promises, Promises...But No Interest!

Posted by: hm789 | Apr 25, 2018

This bank will find any technicality to avoid paying Kasasa interest. It's a huge hassle to open and fund an account, only to learn you earned almost NOTHING in INTEREST! You get .01%,the bank earns 10%-18% on YOUR money!
Customer service is a lot to be desired..
Best Advice, Take your Money and your Business ELSEWHERE.



Health Grade Components

FDIC Certificate #57878
Year Established2005
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.03%
Return on Equity - YTD0.29%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$236.5MM$215.5MM
LoansQ1 2018vs Q1 2017$214.8MM$193.5MM
DepositsQ1 2018vs Q1 2017$208.1MM$185.8MM
Equity CapitalQ1 2018vs Q1 2017$21.8MM$19.6MM
Loan Loss AllowanceQ1 2018vs Q1 2017$1.3MM$1.3MM
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$370.00K$354.00K
Real Estate OwnedQ1 2018vs Q1 2017$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Main Street Bank (MI) Savings Account Rates

1.00%*-$50kKasasa Saver
OTHER TIERS: 0.50% $50k+
0.75%*$400k*-Main Street Bank Savings Account
OTHER TIERS: 0.15% $100 - $100k | 0.25% $100k - $200k | 0.50% $200k - $400k

Main Street Bank (MI) Money Market Rates

0.50%*$50k*-Money Market Account
OTHER TIERS: 0.10% $2,500 - $25k | 0.30% $25k - $50k
0.50%*$50k*-Business Money Market Account
OTHER TIERS: 0.10% $2,500 - $25k | 0.30% $25k - $50k

Main Street Bank (MI) Checking Account Rates

2.25%*-$25kKasasa Cash
OTHER TIERS: 0.25% $25k+

Main Street Bank (MI) CD Rates

2.50%$500-18 Month CD
2.00%$500-12 Month CD
2.00%$500-60 Month CD
1.90%$500-48 Month CD
1.70%$500-36 Month CD
1.50%$500-24 Month CD
1.25%$500-6 Month CD

Main Street Bank (MI) Locations
Main Street Bank31780 Telegraph RoadBingham Farms, MI 48025
Troy Branch363 West Big Beaver Road Suite 150Troy, MI 48084

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