Mi Bank

3707 West Maple Road
Bloomfield Township, MI 48301

Notable Rates APY Vs.Others
Savings N.A. 1.90% →
1-Year CD N.A. 1.90% →
2-Year CD N.A. 1.95% →
5-Year CD N.A. 2.00% →
30-Year Mortgage N.A. 3.14% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.50% →

2020 Overview

General Bank Information

Mi Bank is an FDIC insured institution located in Bloomfield Township, MI. It was founded in 2019 and has approximately $0.07 billion in assets.

FDIC Insured Yes
FDIC Certificate # 59138
Date Established 2019
Assets $0.07 billion
Loans $0.04 billion
Deposits $0.05 billion
Capital $0.02 billion

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

Deposit Rates - April 7, 2020

Your Current Location: Virginia, VA 20146

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

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Loan Rates - April 7, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Mi Bank

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 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
4.542% 4.500% 0.00 $1,250 $1,267 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

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Financial Details

Mi Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Mi Bank. 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
Mi Bank U.S. Bank Average
0% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its 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, 2019, Mi Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $18,132,000 in equity and $344,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Mi Bank U.S. Bank Average
-11.88% 9.41%

Mi Bank has a Return on Equity of -11.88% versus the BestCashCow average of 9.41%. 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.

Mi Bank U.S. Bank Average
26.59% 12.82%

Mi Bank has a Capitalization of 26.59% versus the BestCashCow average of 12.82. 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.

Mi Bank Balance Sheet Analysis

As of December 31, 2019, Mi Bank had assets of $68,188,000, loans of $42,440,000, and deposits of $49,929,000. 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, 2019
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.02 billion
Total securities $0.00 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.04 billion
Loan loss allowance $0.00 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 $0.00 billion
All other assets $0.00 billion
     Total Assets $0.05 billion
Total deposits $0.05 billion
      Interest-bearing deposits $0.03 billion
      Deposits held in domestic offices $0.05 billion
      % insured (estimated) 30.44%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.05 billion
      Shareholders’ Equity $0.02 billion

Summary Income Statement

December 31, 2019
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $-0.00 billion

Bank Loan Profile?

The top three loan types in Mi Bank’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Commercial and Industrial Loans.

Compared to other banks in Michigan, Mi Bank has a significantly higher percent of Multifamily Mortgages, Construction and Development 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.69
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 11.80
Construction and Development Loans 18.00
Commercial Real Estate 29.04
Commercial and Industrial Loans 15.31
Farm Loans 0.00

Frequently Asked Questions About Mi Bank

Branches and Savings

Is Mi Bank FDIC insured?

Yes. It is covered under FDIC Certificate #59138.

Why does Mi Bank pay such low interest on savings accounts?

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

Why are Mi Bank CD rates not competitive?

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

Is Mi Bank a commercial bank?


Where are Mi Bank locations?

See branch locations nearby.

Is Mi Bank open on Saturdays?

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Are Mi Bank ATMs Open 24/7?

Do Mi Bank ATMs accept cash deposits?

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Will the Mi Bank branch print checks?

Do Mi Bank checks expire?

Does Mi Bank require US citizenship to open account?

Can Mi Bank close my account?

Does Mi Bank Report to credit bureaus?

Does Mi Bank Use Equifax?

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What is Mi Bank's SWIFT code?


Does Mi Bank offer mortgages?

Compare mortgage rates here.

Does Mi Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Mi Bank offer personal loans?

Compare personal loan rates here.

Does Mi Bank offer student loans?

Will Mi Bank cash a check?

Will Mi Bank redeem a savings bond?

Does Mi Bank cash savings bonds?

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Can Mi Bank issue a money order?

Does Mi Bank do currency exchange?

Background on The Bank

Who owns Mi Bank?

How long has Mi Bank been around?

Can Mi Bank transfer to other banks?

Does Mi Bank have quick pay?

Does Mi Bank accept rolled coins?

Will Mi Bank accept loose change?

Where is Mi Bank headquarters?

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