mBank


Overview / Commentary
906-341-8401
130 South Cedar Street
Manistique, MI 49854

mBank is headquartered in Manistique and is the 12th largest bank in the state of Michigan. It is also the 625th largest bank in the nation. It was established in 1934 and as of June of 2020, it had grown to 315 employees at 30 locations. mBank has an A health rating.

Reviews (2)

Overdraft Fees

Posted by: |

This bank in Michigan has a few convenient locations. The staff is usually somewhat friendly and helpful. The number and types of services is limited, and the rates on certificates of deposit and savings accounts are lower than average. Another problem with this bank is that they charge huge overdraft fee's instead of denying your debit card at the point of sale. Their online banking system is sometimes delayed and this leads to lots of overdraft fees. If you are looking for a bank with lenient overdraft policies look elsewhere.

Fee Oriented Bank

Posted by: |

We had a nice local customer service oriented bank and mBank gobbled them up.
Their fee schedule is outrageous.
They pay zip in interest.
Bill pay stinks.
mBank app stinks.
Their main business is commercial loans. Need I say more?
Link to their fee schedule;
https://www.bankmbank.com/MediaLib/mbank2/mBank2/PDF/mBank-FeeSchedule-7-2018.pdf



Health

Health Grade Components

Overall
FDIC Certificate #14816
Year Established1934
Employees315
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.04%
Return on Equity - YTD9.3%
Annual Interest Income$32.1MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.52B$1.33B
LoansQ2 2020vs Q2 2019$1.15B$1.06B
DepositsQ2 2020vs Q2 2019$1.23B$1.12B
Equity CapitalQ2 2020vs Q2 2019$157.4MM$155.2MM
Loan Loss AllowanceQ2 2020vs Q2 2019$5.3MM$5.3MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$6.2MM$4.7MM
Real Estate OwnedQ2 2020vs Q2 2019$2.2MM$2.1MM
Rates

Sorry, we do not have rate data for mBank.

Locations

Availability



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