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Gogebic Range Bank

Ironwood, MI · Cert 57192

FDIC · 4 branches

Q4 2025

$142.5MAssets
$59.3MLoans
$130.8MDeposits
$8.9MEquity
Loan mix
54%RE $32.3M37%C&I $21.8M9%Consumer $5.1MQ1 2024Q4 2025
Deposit mix
71%Interest-bearing $93.2M29%Noninterest $37.6MQ1 2024Q4 2025

Executive Summary

  • Earnings: ROA of -10.34%, down 1,123 bps year over year; NIM at 3.35%.
  • Asset quality: problem loans at 2.35% of loans (+68 bps YoY), with net charge-offs at 0.11%.
  • Capital: tier 1 leverage ratio of 8.15%, down 216 bps from a year ago.
  • Funding: loans stand at 45.35% of deposits as of Q4 2025.

Return on Assets (quarter, annualized)

-10.34%-1,123 bps YoY

Net Interest Margin (quarter, annualized)

3.35%-4 bps YoY

Efficiency Ratio (quarter, annualized)

372%+30,081 bps YoY

Tier 1 Leverage Ratio

8.15%-216 bps YoY

NIM

3.83%Q4 ’234.15%Q4 ’244.06%Q4 ’25+6%-1%

Non-interest income vs. expense

2.60%Q4 ’232.70%Q4 ’2413.81%Q4 ’250%+478%

Discrete quarter, annualized.

MetricQ1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025YoY ΔTrend
Earnings
Return on Assets0.60%0.47%0.74%0.89%0.58%0.70%0.94%-10.34%-1,123 bps
Return on Equity9.44%7.26%10.16%11.30%7.35%8.89%11.61%-142.37%-15,367 bps
Net Interest Margin2.92%3.02%2.96%3.39%3.20%3.36%3.37%3.35%-4 bps
Efficiency Ratio75.99%81.22%73.94%71.69%81.65%80.08%67.07%372%+30,081 bps
Non-Interest Burden2.29%2.45%2.11%2.33%2.57%2.65%2.14%13.48%+1,114 bps
Growth
Asset Growth (YoY)1.43%-3.25%-1.45%-3.69%-7.10%-3.36%1.56%0.04%+372 bps
Loan Growth (YoY)4.57%1.17%-0.86%5.15%-1.84%-5.76%-0.14%-0.64%-578 bps
Deposit Growth (YoY)1.04%-5.58%-5.84%-3.48%-8.59%-2.07%2.91%2.44%+592 bps
Asset Quality
Nonperforming Loans / Loans1.68%1.66%1.82%1.68%1.79%1.78%1.67%2.35%+68 bps
Net Charge-Offs / Loans0.05%0.05%0.01%0.03%-0.01%0.14%0.37%0.11%+8 bps
Allowance / Loans2.58%2.50%2.58%2.49%2.61%2.56%2.45%2.36%-13 bps
Allowance Coverage of NPLs1.5x1.5x1.4x1.5x1.5x1.4x1.5x1.0x-0.5x
Capital
Tier 1 Leverage Ratio9.84%10.15%10.34%10.31%10.56%10.85%10.73%8.15%-216 bps
Total Risk-Based Capital9.84%10.15%10.34%10.31%10.56%10.85%10.73%8.15%-216 bps
Equity / Assets6.28%6.68%7.87%7.92%7.76%8.02%8.24%6.24%-168 bps
Liquidity & Funding
Loans / Deposits41.45%45.23%43.56%46.76%44.51%43.53%42.27%45.35%-140 bps
Liquid Assets / Assets14.57%13.03%13.52%12.82%12.70%16.42%15.28%13.49%+67 bps
CRE / Total Capitaln/an/an/an/an/an/a127.84%174.98%n/a