Main Street Bank (MI)


Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
2.25%Reward CheckingKasasa Cash
3.25%5-year CD60 Month CD
2.00%1-year CD12 Month CD

Overview / Commentary
248-645-8888
31780 Telegraph Road
Bingham Farms, MI 48025

Main Street Bank (MI) is headquartered in Bingham Farms and is the 52nd largest bank in the state of Michigan. It is also the 2,496th largest bank in the nation. It was established in 2005 and as of June of 2018, it had grown to 98 employees at 2 locations. Main Street Bank (MI)'s savings rates are 2X the national average, and it has an A health rating.

Related Posts

Main Street Bank (MI) Has SLASHED Their Interest Rates According To Webpage - 9/2/2018

APY MIN MAX ACCOUNT DETAILS 2.53% $500 - 60 Month CD down from 3.25% 2.43% $500 - 48 Month CD down from 3.15% 2.23% $500 - 36 Month CD down from 3.00% 2.22% $500 - 24 Month CD down from 2.75% 2.12% $500 - 18 Month CD down from 2.50% 2.02% $500 - 12 Month CD UP from 2.00% 1.26% $500 - 6 Month CD down from 1.75%

Main Street Bank Ups Nationally Available 36-Month CD - 8/20/2018

Main Street Bank (MI) has raised the rates on its nationally available CDs: 36-month (3.00% APY) and 48-month (3.15% APY). Minimum deposit is $500.

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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.

Petty Bank...25 Cents Is Worth More To Them, Then Their Customers.

Posted by: sooo | Aug 5, 2018

Small error and I earned only $2.17 interest on a $25,000 deposit
I wish I could get a loan from them for $25,000 and pay them $2.17!
So much for 2.32% interest advertised.
They also evaluate your spending habits...This bank must be your primary bank or the ONLY bank you do business with or they will NOT pay interest.
Overall they are very petty bank and value a few dollars over their customers. Customer acquisition rate doesn't seem to matter?
I opened an account and closed it shortly thereafter.
No thanks, there are too many other banks and credit unions out there to choose from.

VIEW MORE REVIEWS

Health

Health Grade Components

Overall
FDIC Certificate #57878
Year Established2005
Employees98
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD3.43%
Annual Interest Income$5.9MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$251.6MM$220.0MM
LoansQ2 2018vs Q2 2017$230.5MM$199.5MM
DepositsQ2 2018vs Q2 2017$204.8MM$183.7MM
Equity CapitalQ2 2018vs Q2 2017$22.1MM$20.2MM
Loan Loss AllowanceQ2 2018vs Q2 2017$1.3MM$1.3MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$159.00K$354.00K
Real Estate OwnedQ2 2018vs Q2 2017$0$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Main Street Bank (MI) Has SLASHED Their Interest Rates According To Webpage

leemd   |  
APY MIN MAX ACCOUNT DETAILS
2.53% $500 - 60 Month CD down from 3.25%
2.43% $500 - 48 Month CD down from 3.15%
2.23% $500 - 36 Month CD down from 3.00%
2.22% $500 - 24 Month CD down from 2.75%
2.12% $500 - 18 Month CD down from 2.50%
2.02% $500 - 12 Month CD UP from 2.00%
1.26% $500 - 6 Month CD down from 1.75%

Rates
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Always verify rates and promotions with the bank or credit union. We are not Main Street Bank (MI); we are a rate comparison website and cannot provide official rates or promotions.

* 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%--Online Savings Special
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$50k*-Money Market Account
OTHER TIERS: 0.10% $2.5k - $25k | 0.30% $25k - $50k
0.50%*$50k*-Business Money Market Account
OTHER TIERS: 0.10% $2.5k - $25k | 0.30% $25k - $50k

Main Street Bank (MI) Checking Account Rates

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

Main Street Bank (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.25%$500-60 Month CD
3.15%$500-48 Month CD
3.00%$500-36 Month CD
2.75%$500-24 Month CD
2.50%$500-18 Month CD
2.00%$500-12 Month CD
1.75%$500-6 Month CD
Locations


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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