The Miners State Bank, Financial Information

AboutThe Miners State Bank

 Address:
312 West Genesee Street
Iron River,MI
Iron County,Michigan
 Established:
Jan 1932
 Number of domestic offices:
6
Total assets$158M
Net income$1M
Net income,quarterly$0M
Total deposits$135M
Domestic deposits$135M
Equity capital$15M
ROA0.73%
ROAQ,quarterly0.36%
ROA,pretax0.36%
ROAQ,quarterly,pretax0.49%
ROE7.4%
ROEQ,quarterly3.7%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

The Miners State Bank was opened in 1912 in the Minckler Building on Third Ave, Iron River, and organized as a state banking association under the laws of the State of Michigan. Building contracts were awarded and a new bank was constructed in 1913 at 312 West Genesee Street. This continues to be the bank’s main location, maintaining the oldest name of any bank in Iron County.

In 1966 the bank purchased two adjacent buildings west of their building, which were dismantled to make room for a new undercover drive-in banking facility. The building adjacent to the east side of the bank was purchased in 1993 and remodeled into offices and a lower level data processing center.

In October of 2003 the Houghton Branch was opened, offering full service banking. The building was designed to resemble a mine shaft in order to compliment the spirit and architecture of the area. In 2007 the Ripley Branch was purchased to serve customers in the Hancock area.

In 2009 the South Range Branch and the Ontonagon Branch were purchased, giving The Miners State Bank a larger presence in the Upper Peninsula.

The Miners State Bank is proud of its heritage, characterized by friendly, personal service and local decision making. The Miners State Bank continues to play an important role in the economic growth and social welfare of its market area.

Main Office312 W. Genesee Street
PO Box 351
Iron River, MI 49935
Phone: 906-265-5131
Fax: 906-265-5575
Toll Free: 877-906-5131

Houghton Branch
1203 Ridge Road
Houghton, MI 49931
Phone: 906-482-5131
Fax: 906-482-5575

Houghton Branch
1203 Ridge Road
Houghton, MI 49931
Phone: 906-482-5131
Fax: 906-482-5575

Ontonagon Branch
601 River St.
Ontonagon, MI 49953
Phone: 906-884-4114
Fax: 906-884-2698

Ripley Branch
49011 N. Royce Rd.
Hancock, MI 49930
Phone: 906-482-7227
Fax: 906-482-8137

South Range Branch
47 Trimountain Ave.
South Range, MI 49963
Phone: 906-482-1170
Fax: 906-482-5600