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Bank of Ann Arbor

Popular Accounts at this Bank

0.95%5-year CD5 Year Retail CD
0.30%1-year CD12 Month Retail CD
0.10%SavingsStatement Savings

Overview / Commentary
125 South Fifth Avenue
Ann Arbor, MI 48107

Bank of Ann Arbor is headquartered in Ann Arbor and is the 8th largest bank in the state of Michigan. It is also the 514th largest bank in the nation. It was established in 1996 and as of June of 2017, it had grown to 208 employees at 8 locations. Bank of Ann Arbor has an A health rating.

Reviews (3)

Bank Of Ann Arbor - More Than Just Great Billboards

Living in Ann Arbor Mi offers one a lot of options with respect to your personal banking. I'll admit, I chose Bank of Ann Arbor for their clever billboard commercials. They also have even funnier radio spots, but I didn't know that until after I had been banking there for awhile. (FYI, the spots are very ingrown. You wouldn't get them unless you've lived here awhile. But they're basically anti-big chain, impersonal bank.) Anyway, despite not having the most locations in town, I liked banking here. Nice lobby. Decent hours. Solid ATM game. It's really a shame there aren't more local banks like this anymore. Very knowledgeable about the city as well as committed to the city as evidenced by how many varied events they sponsor. Overall, the experience was very good. Professional and personable tellers as well!

Friendly but Limited Service

Posted by: dustyklein | Jul 1, 2017

Working with a small local bank can seem really appealing. It's comforting to know that you would be dealing with local people in your community instead of having to deal with a large institution instead of just being a number in a database. While local banks can seem inviting for being more personable, don't let that fool you.
The Bank of Ann Arbor is a good example of this. They have a warm and friendly outside, but at the end of it, they just want to manage your money while doing the least amount of work as possible. You're much better off looking elsewhere because there simply isn't much you can do with an account there. Out of state and need money without fees? Too bad, that's not what you would get from Bank of Ann Arbor.

High Fees And No Interest Rate Guarantee

While the 2.8% rate is good as of 8.22.13, it is a drop from a higher rate as of February according to the official in charge of HSA policy at the bank. He did assure that it wasn't likely to drop drastically but he was honest about the fact that the trend is toward lowered rates over time. I'm disappointed by the high fees, $4 a month, and $12 to open the account. There is no fee to transfer out the HSA to another institution. The checks cost $3 for a book of 20 checks, but the debit card is free.


Health Grade Components

FDIC Certificate #34120
Year Established1996
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.71%
Return on Equity - YTD18.16%
Annual Interest Income$31.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.53B$1.19B
LoansQ2 2017vs Q2 2016$1.19B$881.3MM
DepositsQ2 2017vs Q2 2016$1.33B$1.02B
Equity CapitalQ2 2017vs Q2 2016$148.9MM$100.0MM
Loan Loss AllowanceQ2 2017vs Q2 2016$16.9MM$15.5MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$3.6MM$2.6MM
Real Estate OwnedQ2 2017vs Q2 2016$768.00K$967.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Bank of Ann Arbor Savings Account Rates

2.50%*$10k*-Health Savings Accounts
OTHER TIERS: 0.17% Up to $1k | 0.35% $1k - $5k | 1.50% $5k - $10k
0.10%--Statement Savings For Minors
0.10%--Passbook Savings
0.10%--Statement Savings

Bank of Ann Arbor Money Market Rates

0.20%*$1m*-Money Market Savings
OTHER TIERS: 0.02% Up to $25k | 0.05% $25k - $100k | 0.10% $100k - $500k | 0.15% $500k - $1mm
0.20%*$1m*-Commercial Money Market Savings
OTHER TIERS: 0.02% $5k - $25k | 0.05% $25k - $100k | 0.10% $100k - $500k | 0.15% $500k - $1mm
0.15%*$1m*-Commercial Money Market Checking
OTHER TIERS: 0.02% Up to $100k | 0.10% $100k - $1mm
0.10%*$10k*-Personal Money Market Checking
OTHER TIERS: 0.02% Up to $2,500 | 0.05% $2,500 - $10k

Bank of Ann Arbor Checking Account Rates

0.15%*$100k*-Smart One Account
OTHER TIERS: 0.02% $1k - $10k | 0.10% $10k - $100k
0.15%*$100k*-Community Interest Checking
OTHER TIERS: 0.02% $1k - $10k | 0.10% $10k - $100k

Bank of Ann Arbor CD Rates

0.95%$1k$100k5 Year Retail CD
0.70%$1k$100k4 Year Retail CD
0.40%$1k$100k2 Year Retail CD
0.40%$100k-270 - 365 Day Jumbo CD
0.35%$1k$100k18 Month Retail CD
0.30%$1k$100k12 Month Retail CD
0.30%$100k-180-269 Day Jumbo CD
0.25%$1k$100k6 Month Retail CD
0.25%$100k-120 - 179 Day Jumbo CD
0.20%$100k-90 - 119 Day Jumbo CD
0.15%$1k$100k3 Month Retail CD
0.15%$100k-30 - 89 Day Jumbo CD
0.10%$100k-7 - 29 Day Jumbo CD

Bank of Ann Arbor Locations
Bank Of Ann Arbor125 South Fifth AvenueAnn Arbor, MI 48107
New Liberty Bank Branch1333 W. Ann Arbor RoadPlymouth, MI 48170
Saline Mi Branch179 East Michigan AvenueSaline, MI 48176
Stadium Branch2204 West Stadium BoulevardAnn Arbor, MI 48103
Plymouth Road Branch2601 Plymouth RoadAnn Arbor, MI 48105
Ypsilanti Branch7 West Michigan AvenueYpsilanti, MI 48197
Ellsworth Road Branch801 West Ellsworth RoadAnn Arbor, MI 48108
Bank Of Birmingham Branch33583 Woodward AvenueBirmingham, MI 48009