Bank of Michigan

30095 Northwestern Highway
Farmington Hills, MI 48334


General Bank Information

FDIC Insured Yes
FDIC Certificate # 57861
Date Established 2005
Assets $0.11 billion
Loans $0.09 billion
Deposits $0.10 billion
Capital $0.01 billion

Bank of Michigan is an FDIC insured institution located in Farmington Hills, MI. It was founded in 2005 and has approximately $0.11 billion in assets.

For a more detailed analysis of Bank of Michigan's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in Bank of Michigan’s loan portfolio are Commercial Real Estate, Small Business Loans, and 1-4 Family Residential Loans.

Compared to other banks in Michigan, Bank of Michigan has a significantly higher percent of Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 12.58
Credit Card Loans 0.00
Consumer Auto Loans 0.14
Small Business Loans 51.72
Construction and Development Loans 3.96
Commercial Real Estate 71.99
Commercial and Industrial Loans 9.99
Farm Loans 0.00

Deposit Rates

Your Current Location: Virginia, VA 20146

There are currently no rates available for Bank Of Michigan, but see these great savings and CD rates:

1.55% APY High Yield Savings from Synchrony Bank
1.95% APY 12 Month CD from Synchrony Bank

Loan Rates

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of Michigan

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2018

Lender APR Rate (%) Points Fees Monthly
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Flagstar Bank, FSB
NMLS ID: 417490
4.544% 4.500% 0.13 $1,285 $1,267 Learn More
Cardinal Financial Co., Limited Partnership
NMLS ID: 66247
4.787% 4.750% 0.13 $1,060 $1,305 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.040% 4.990% 0.25 $1,424 $1,341 Learn More
CapWest Home Loans
NMLS ID: 6521
4.659% 4.625% 0.00 $997 $1,286 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2018

Lender Rate (%) Monthly Payment Learn More
Third Federal Savings & Loan Assoc. of Cleveland 3.740% $231.27 Learn More
Flagstar Bank 5.240% $275.79 Learn More

Note to Bank of Michigan
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Bank of Michigan branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Bank of Michigan Locations

Financial Details

Bank of Michigan Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of Michigan. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank of Michigan U.S. Bank Average
5.67% 8.32%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2017, Bank of Michigan had $671,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $10,601,000 in equity and $1,242,000 in loans loss reserves. That gives it a Texas Ratio of 5.67%.

Return on Equity
Bank of Michigan U.S. Bank Average
12.71% 8.84%

Bank of Michigan has a Return on Equity of 12.71% versus the BestCashCow average of 8.84%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Bank of Michigan U.S. Bank Average
9.4% 12.21%

Bank of Michigan has a Capitalization of 9.4% versus the BestCashCow average of 12.21. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank of Michigan Balance Sheet Analysis

As of March 31, 2015, Bank of Michigan had assets of $110,938,000, loans of $85,570,000, and deposits of $101,986,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Frequently Asked Questions About Bank Of Michigan

Branches and Savings

Is Bank Of Michigan FDIC insured?

Yes. It is covered under FDIC Certificate #57861.

Why does Bank Of Michigan pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Of Michigan CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Of Michigan a commercial bank?


Where are Bank Of Michigan locations?

See branch locations nearby.

Is Bank Of Michigan open on Saturdays?

Is Bank Of Michigan open on Sundays?

What time does Bank Of Michigan open?

What time does Bank Of Michigan close?

Are Bank Of Michigan ATMs Open 24/7?

Do Bank Of Michigan ATMs accept cash deposits?

Can Bank Of Michigan customers use other ATMs?

Do Bank Of Michigan branches have notaries?

Will Bank Of Michigan notarize my document?

What address for Bank Of Michigan should I put for incoming ACH transfers?

Will the Bank Of Michigan branch print checks?

Do Bank Of Michigan checks expire?

Does Bank Of Michigan require US citizenship to open account?

Can Bank Of Michigan close my account?

Does Bank Of Michigan Report to credit bureaus?

Does Bank Of Michigan Use Equifax?

What is Bank Of Michigan's ACH Routing Number?

What is Bank Of Michigan's SWIFT code?


Does Bank Of Michigan offer mortgages?

Compare mortgage rates here.

Does Bank Of Michigan offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of Michigan offer personal loans?

Compare personal loan rates here.

Does Bank Of Michigan offer student loans?

Will Bank Of Michigan cash a check?

Will Bank Of Michigan redeem a savings bond?

Does Bank Of Michigan cash savings bonds?

Will Bank Of Michigan cash money orders?

Can Bank Of Michigan issue a money order?

Does Bank Of Michigan do currency exchange?

Background on The Bank

Who owns Bank Of Michigan?

How long has Bank Of Michigan been around?

Can Bank Of Michigan transfer to other banks?

Does Bank Of Michigan have quick pay?

Does Bank Of Michigan accept rolled coins?

Will Bank Of Michigan accept loose change?

Where is Bank Of Michigan headquarters?

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