Bank of Ann Arbor


Bank of Ann Arbor is an FDIC insured institution headquartered at 125 S 5th Ave, Ann Arbor, MI 48104.
It was founded in 1996 and has approximately $3 billion in assets. Customers can open an account at one of its 8 branches.

Deposit Rates - July 14, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.15% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
MM RATES APY MIN
Money Market
0.02% $2,500 Compare
Money Market
0.02% $10,000 Compare
Money Market
0.05% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.02% $1
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 34120
Date Established 1996
Assets $ 3.09 billion
Loans $ 2.39 billion
Deposits $ 2.56 billion
Capital $ 397.98 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 186.05 million
Interest-bearing balances $ 149.22 million
Total securities $ 302.89 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.39 billion
Loan loss allowance $ 24.94 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.34 million
Goodwill and other intangibles $ 72.80 million
All other assets $ 87.05 million
     Total Assets $ 2.69 billion

LIABILITIES
Total deposits $ 2.56 billion
      Interest-bearing deposits $ 1,707.22 million
      Deposits held in domestic offices $ 2.56 billion
      % insured (estimated) 54.55%
Federal funds purchased and repurchase agreements $ 50.50 million
Trading liabilities N.A.
Other borrowed funds $ 60.00 million
Subordinated debt N.A.
All other liabilities $ 11.99 millionn
      Total Liabilities $ 2.69 billion
      Shareholders’ Equity $ 397.98 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 152.35 million
Total Interest Expense $ 34.46 million
Net interest income $ 117.90 million
Provision for loan and lease losses $ 6.02 million
Total non interest income $ 16.90 million
Total non interest expense $ 69.58 million
Pre-tax Net Operating Income $ 28.05 million

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Branches

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Bank of Ann Arbor Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    MICHIGAN
    $50,000
    6 Month
    0.15%
    0.37x (National Avg. - 0.40%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.15%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 75 53
    2 50,075 75 53
    3 50,150 75 53
    4 50,225 75 53
    5 50,301 75 53
    6 50,376 76 53
    7 50,452 76 53
    8 50,527 76 53
    9 50,603 76 53
    10 50,679 76 53
    11 50,755 76 53
    12 50,831 76 53
    13 50,907 76 53
    14 50,984 76 54
    15 51,060 77 54
    16 51,137 77 54
    17 51,214 77 54
    18 51,290 77 54
    19 51,367 77 54
    20 51,444 77 54
    TOTAL $1,522 $1,065
  • 2
    LOCAL CD
    Bank
    -
    $50,000
    7 Month
    5.25%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,625 1,838
    2 52,625 2,763 1,934
    3 55,388 2,908 2,036
    4 58,296 3,061 2,142
    5 61,356 3,221 2,255
    6 64,577 3,390 2,373
    7 67,968 3,568 2,498
    8 71,536 3,756 2,629
    9 75,292 3,953 2,767
    10 79,244 4,160 2,912
    11 83,405 4,379 3,065
    12 87,784 4,609 3,226
    13 92,392 4,851 3,395
    14 97,243 5,105 3,574
    15 102,348 5,373 3,761
    16 107,721 5,655 3,959
    17 113,377 5,952 4,167
    18 119,329 6,265 4,385
    19 125,594 6,594 4,616
    20 132,187 6,940 4,858
    TOTAL $89,127 $62,389
  • 3
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.35%
    9.55x (National Avg. - 0.56%)
    $5,000
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256