mBank

130 South Cedar Street
Manistique, MI 49854

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 14816
Date Established 1934
Assets $1.31 billion
Loans $1.03 billion
Deposits $1.10 billion
Capital $0.15 billion

mBank is an FDIC insured institution located in Manistique, MI. It was founded in 1934 and has approximately $1.31 billion in assets. Customers can open an account at one of its 26 branches.

For a more detailed analysis of mBank'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 mBank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Michigan, mBank has a significantly higher percent of Credit Card Loans 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 27.75
Multifamily
Mortgages
1.07
Credit Card Loans 0.12
Consumer Auto Loans 0.63
Small Business Loans 18.94
Construction and Development Loans 4.29
Commercial Real Estate 46.52
Commercial and Industrial Loans 18.22
Farm Loans 0.10

Deposit Rates - April 21, 2019

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $1 $5,000 Learn MoreShow Less
Money Market
0.25% $5,001 $25,000 Learn MoreShow Less
Money Market
0.30% $25,001 $50,000 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.50% $250 - Learn MoreShow Less
6 Mo CD
1.00% $250 - Learn MoreShow Less
Special: 9 Mo CD
2.35% $10,000 $325,000 Learn MoreShow Less
12 Mo CD
1.25% $250 - Learn MoreShow Less
Special: 15 Mo CD
2.50% $10,000 - Learn MoreShow Less
18 Mo CD
1.55% $250 - Learn MoreShow Less
24 Mo CD
1.60% $250 - Learn MoreShow Less
30 Mo CD
1.60% $250 - Learn MoreShow Less
36 Mo CD
1.75% $250 - Learn MoreShow Less
48 Mo CD
2.00% $250 - Learn MoreShow Less
60 Mo CD
2.25% $250 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.25% $250 - Learn MoreShow Less
Special: 9 Mo FIRA
2.35% $10,000 $325,000 Learn MoreShow Less
Special: 15 Mo FIRA
2.50% $10,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1 $25,000 Learn MoreShow Less

Loan Rates - April 21, 2019

Your Current Location: Washington, WA 98109

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

mBank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Seattle,Washington


mBank Locations


Financial Details

mBank Ratio Analysis

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

Texas Ratio
mBank U.S. Bank Average
5.41% 6.97%

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 December 31, 2018, mBank had $5,077,000 in non-current loans and $3,119,000 in owned real estate. To cover these potential losses it had $146,477,000 in equity and $5,142,000 in loans loss reserves. That gives it a Texas Ratio of 5.41%.

Return on Equity
mBank U.S. Bank Average
7.38% 8.80%

mBank has a Return on Equity of 7.38% versus the BestCashCow average of 8.80%. 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.

Capitalization
mBank U.S. Bank Average
11.14% 12.29%

mBank has a Capitalization of 11.14% versus the BestCashCow average of 12.29. 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.

mBank Balance Sheet Analysis

As of December 31, 2018, mBank had assets of $1,314,951,000, loans of $1,033,722,000, and deposits of $1,100,403,000. 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.

Summary Balance Sheet

December 31, 2018
ASSETS
Cash & Balances due from depository institutions $0.08 billion
Interest-bearing balances $0.04 billion
Total securities $0.12 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.03 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.03 billion
All other assets $0.03 billion
     Total Assets $1.17 billion
LIABILITIES
Total deposits $1.10 billion
      Interest-bearing deposits $0.86 billion
      Deposits held in domestic offices $1.10 billion
      % insured (estimated) 92.74%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.06 billion
Subordinated debt $0.00 billion
All other liabilities $0.01 billion
      Total Liabilities $1.17 billion
      Shareholders’ Equity $0.15 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.06 billion
Total Interest Expense $0.01 billion
Net interest income $0.05 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.04 billion
Pre-tax Net Operating Income $0.01 billion

Frequently Asked Questions About Mbank

Branches and Savings

Is Mbank FDIC insured?

Yes. It is covered under FDIC Certificate #14816.

Why does Mbank pay such low interest on savings accounts?

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

Why are Mbank CD rates not competitive?

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

Is Mbank a commercial bank?

Yes

Where are Mbank locations?

See branch locations nearby.

Is Mbank open on Saturdays?

Is Mbank open on Sundays?

What time does Mbank open?

What time does Mbank close?

Are Mbank ATMs Open 24/7?

Do Mbank ATMs accept cash deposits?

Can Mbank customers use other ATMs?

Do Mbank branches have notaries?

Will Mbank notarize my document?

What address for Mbank should I put for incoming ACH transfers?

Will the Mbank branch print checks?

Do Mbank checks expire?

Does Mbank require US citizenship to open account?

Can Mbank close my account?

Does Mbank Report to credit bureaus?

Does Mbank Use Equifax?

What is Mbank's ACH Routing Number?

What is Mbank's SWIFT code?

Products

Does Mbank offer mortgages?

Compare mortgage rates here.

Does Mbank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Mbank offer personal loans?

Compare personal loan rates here.

Does Mbank offer student loans?

Will Mbank cash a check?

Will Mbank redeem a savings bond?

Does Mbank cash savings bonds?

Will Mbank cash money orders?

Can Mbank issue a money order?

Does Mbank do currency exchange?

Background on The Bank

Who owns Mbank?

How long has Mbank been around?

Can Mbank transfer to other banks?

Does Mbank have quick pay?

Does Mbank accept rolled coins?

Will Mbank accept loose change?

Where is Mbank headquarters?

Customer Reviews for mBank


  • Wesley Pitts

    April 02, 2019

    even if you have to charge for them, please keep the coin wrappers available

  • Wesley Pitts

    April 02, 2019

    for over 100 years banks have given out coin wrappers. I was told this week that Mbank will no longerbe giving them out. Can't wait to see what happens when I bring in $50.00 in change. This is a shame

  • wesley Pitts

    March 30, 2019

    Checking Rates

    my atm card was compromised. bank caught it right away. everything is fine good job

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