Gogebic Range Bank
FDIC #57192
📍 Ironwood, Michigan
Gogebic Range Bank is a commercial bank, state charter and fed nonmember, supervised by the fdic. established in May 20, 2002. With assets of $149.44 Million, it operates 4 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: June 1, 2021
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
June 1, 2021
Satisfactory
February 1, 2015
Satisfactory
December 1, 2009
Satisfactory
💰 Financial Strength
Total Assets$149.44 Million
Total Deposits$141.12 Million
Equity Capital$7.89 Million
Net Income$957,000
📈 Performance
ROA0.85%
ROE15.48%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
EstablishedMay 20, 2002
FDIC Cert57192
Holding CoWest End Financial Corp
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeAugust 31, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
📜 Institutional History
2017
Merger / Acquisition
Acquired: The State Bank Of Ewen
2014
Relocation
Moved HQ to: 155 East Cloverland Drive, Ironwood, MI 49938.