Banks in Michigan

7 FDIC-insured banks headquartered in Michigan, ranked by total assets.

Michigan is home to 7 FDIC-insured banks holding a combined $36.88B in total assets and approximately $27.84B in deposits (Source: FDIC BankFind). These figures represent banks headquartered in Michigan and may not include all branches of out-of-state banks operating in the state.

Northpointe Bank is the largest bank headquartered in Michigan with $7.02B in total assets, suggesting a relatively distributed banking market (Source: FDIC BankFind). The mix of national banks, regional institutions, and community banks in Michigan provides consumers with a range of options based on their banking preferences.

Total Banks

Combined Assets

$36.88B

Avg ROA

1.60%

Largest banks in Michigan

Northpointe Bank

Northpointe Bank is the largest bank headquartered in Michigan with $7.02B in total assets and 1 branches (Source: FDIC BankFind).

First National Bank of America

First National Bank of America is a major bank headquartered in Michigan with $6.70B in total assets and 3 branches (Source: FDIC BankFind).

Mercantile Bank

Mercantile Bank is a major bank headquartered in Michigan with $6.24B in total assets and 41 branches (Source: FDIC BankFind).

Independent Bank

Independent Bank is a major bank headquartered in Michigan with $5.50B in total assets and 59 branches (Source: FDIC BankFind).

ChoiceOne Bank

ChoiceOne Bank is a major bank headquartered in Michigan with $4.41B in total assets and 51 branches (Source: FDIC BankFind).

Banks headquartered in Michigan

#	Bank	Total Assets	Deposits	ROA	Branches
1	Northpointe BankGrand Rapids	$7.02B	$4.89B	1.39%	1
2	First National Bank of AmericaEast Lansing	$6.70B	$3.84B	2.94%	3
3	Mercantile BankGrand Rapids	$6.24B	$4.90B	1.61%	41
4	Independent BankGrand Rapids	$5.50B	$4.82B	1.33%	59
5	ChoiceOne BankSparta	$4.41B	$3.60B	0.79%	51
6	Macatawa Bank, National AssociationHolland	$3.66B	$3.06B	1.39%	28
7	Bank of Ann ArborAnn Arbor	$3.34B	$2.74B	1.72%	17

Source: FDIC BankFind, most recent quarterly data. Only includes banks headquartered in Michigan. Data last updated: April 2, 2026.

Credit unions in Michigan

9 credit unions headquartered in Michigan, ranked by total assets. Credit unions are member-owned cooperatives insured by the NCUA.

#	Credit Union	Total Assets	Members	ROA	Branches
1	LAKE MICHIGANGrand Rapids	$15.95B	523,449	1.37%	N/A
2	MICHIGAN STATE UNIVERSITYEast Lansing	$8.38B	396,646	0.31%	N/A
3	DFCU FINANCIALDearborn	$7.77B	242,390	0.97%	N/A
4	GENISYSAUBURN HILLS	$6.21B	295,577	1.71%	N/A
5	MICHIGAN SCHOOLS AND GOVERNMENTClinton Townshi	$4.28B	161,135	1.15%	N/A

Showing top 5 of 9 credit unions in Michigan. View all credit unions

Source: NCUA Quarterly Call Report Data. Only includes credit unions headquartered in Michigan.

How to choose a bank in Michigan

When choosing a bank in Michigan, consider what matters most for your financial needs. Michigan has 7 FDIC-insured banks headquartered in the state, plus additional out-of-state banks with local branches. Each institution offers different strengths in terms of branch access, product variety, and community focus.

Consider whether branch access matters to you. If you prefer in-person banking, look for institutions with branches near your home or workplace. If you primarily use mobile and online banking, you may want to prioritize digital features and compare interest rates, as online-focused banks often offer higher savings APYs.

All banks listed on this page are FDIC-insured, meaning deposits are protected up to $250,000 per depositor, per insured bank, for each account ownership category (Source: FDIC). Beyond FDIC insurance, compare factors such as monthly maintenance fees, ATM networks, minimum balance requirements, and customer service availability. The CFPB recommends comparing at least three institutions before opening a new account.

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Data Sources

FDIC BankFind: Financial data including total assets, deposits, net income, ROA, and ROE for all FDIC-insured institutions. https://banks.data.fdic.gov/

CFPB Consumer Complaint Database: Consumer complaint data by institution, including complaint volumes, response rates, and top issue categories. https://www.consumerfinance.gov/data-research/consumer-complaints/

Federal Reserve Economic Data (FRED): Interest rate benchmarks including the Federal Funds Rate, Treasury yields, and national savings rate averages. https://fred.stlouisfed.org/

BankRanked is not a bank, credit union, or financial advisor. This content is for educational purposes only and does not constitute financial advice. All data is sourced from publicly available government databases (FDIC, NCUA, CFPB, FRED). Consult a licensed financial professional before making banking decisions.