United Bank of Michigan

What United Bank of Michigan does

United Bank of Michigan is a closely held community bank headquartered in Grand Rapids, Michigan, founded in 1887 as Wayland Exchange Bank. The bank operates branches in Grand Rapids, Dorr, and Wayland, serving individuals, families, and small-to-mid-sized businesses across West Michigan with assets exceeding $1 billion. Its product portfolio spans personal and business deposit accounts (checking, savings, CDs), a broad mortgage lending suite (conventional, first-time homebuyer, USDA rural development, jumbo, condo, home equity, construction), commercial real estate and business lending, municipal banking, treasury management, and merchant solutions.

The bank runs an integrated financial services platform anchored by a digital banking experience — including online and mobile banking with mobile deposit, Zelle peer-to-peer payments, card controls, and digital wallet integrations (Apple Pay, Samsung Pay, Google Pay) — upgraded in 2024. It extends into adjacent financial services through affiliated subsidiary United Insurance (auto, home, life, umbrella, business insurance) and a strategic revenue-sharing partnership with Ameriprise Financial for wealth management, retirement, estate, and tax planning services delivered through on-staff advisors.

Revenue mechanics combine traditional community bank economics — interest income from lending operations, banking fees and service charges — with diversified non-interest income from insurance commissions (United Insurance) and wealth management referrals (Ameriprise). Customer acquisition is driven by a mix of community engagement (financial literacy programs, local partnerships), branch-based relationship banking, dedicated mortgage loan officers, and digital channels including a content hub and financial calculators. Leadership is provided by President and CEO Joseph Manica and Chairman Arthur C. Johnson, reflecting multi-generational family stewardship of the closely held institution.

Name

United Bank of Michigan

Legal name

United Bank of Michigan

Website

https://unitedbank4u.com

Company type

Private

Founded year

1887

Operating status

Operating

Headcount range

101–250 employees

Short description

United Bank of Michigan is a closely held community bank headquartered in Grand Rapids, serving individuals, families, and businesses across West Michigan with deposit accounts, mortgage and commercial lending, insurance, and wealth management services, supported by over $1 billion in assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Retail banking services
• Commercial lending
• Mortgage financing
• Community banking
• Wealth advisory services

Headquarters

HQ city

Grand Rapids

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including mortgages, business loans, and consumer loans. As a community bank with over $1 billion in assets, interest income from lending operations is the core revenue driver.
2. Banking Fees and Service Charges: Various banking fees including account maintenance, transaction fees, and service charges associated with checking, savings, and other deposit accounts.
3. Insurance Products: Revenue from insurance products offered through United Insurance including auto, home, life, umbrella, and business insurance policies. Insurance products are provided as affiliated service.
4. Wealth Management Referrals: Revenue sharing relationship with Ameriprise Financial for referring clients to wealth management, financial planning, and investment services.
5. Wealth Management Services: Partnership with Ameriprise Financial offering financial planning, retirement planning, investments, insurance, annuities, and estate planning services.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels7 records

Core offering

United Bank of Michigan is an FDIC-insured community bank providing deposit accounts (personal and business checking, savings, certificates of deposit, IRAs, and Health Savings Accounts), a full suite of lending products (conventional and specialized mortgages, commercial real estate, business and personal loans), treasury management and merchant solutions for businesses, municipal banking services, wealth management through an Ameriprise Financial partnership, and insurance products through affiliated United Insurance. The bank distributes these services through three West Michigan branch locations and a 2024-upgraded digital banking platform with online and mobile access.

Product overview

United Bank of Michigan operates as a traditional community bank offering a comprehensive suite of financial products and services. The core banking platform encompasses personal and business deposit accounts (checking and savings), a full range of lending products (mortgages, commercial real estate, business loans, personal loans), and insurance products. Digital banking capabilities include online and mobile banking with features such as bill pay, mobile deposit, Zelle peer-to-peer payments, and mobile wallet integration (Apple Pay, Samsung Pay, Google Pay). The bank partners with Ameriprise Financial for wealth management services and with HealthEquity for Health Savings Accounts. Home loans include conventional mortgages, first-time homebuyer programs, rural development loans, jumbo financing, and condo financing. Insurance offerings encompass auto, home/property, life, umbrella, and business insurance through United Insurance. The bank recently launched a major digital banking platform upgrade in 2024.

Differentiator

Problem solved

Functional benefit

Brands

• United Insurance: Insurance subsidiary offering auto, home, property, life, umbrella, and business insurance products.
• United Wealth Management

Products and services

• Personal Checking Accounts Personal checking account options for individuals and families, providing everyday transaction banking with various account tiers suited to different financial goals.
• Personal Savings and Certificates of Deposit Personal savings accounts including money market options and Certificates of Deposit with terms from 90 days to 5 years at $500 minimum; a limited-time 13-month CD special offers 4.00% APY.
• Digital Banking Platform Online and mobile banking platform enabling account management, bill payment, account-to-account transfers, mobile deposits, card management, peer-to-peer Zelle payments, and Apple/Samsung/Google Pay wallet support, accessed via web and mobile apps with 128-bit encryption.
• Mobile Banking App (iOS/Android) Mobile banking application for iPhone and Android that provides payments, transfers, account history review, balance checks, mobile check deposit, card management, and access to ACH/wire controls.
• Online Banking Web Platform Web-based banking platform offering bill payment, automatic payments, transfers to external institutions, eBills, card controls, alerts via email/text, and account opening.
• Personal Loans and Credit Cards Personal lending products for individuals, including mortgages, auto loans, personal loans, and credit cards accessed through the credit card platform.
• Individual Retirement Accounts (IRAs) Individual Retirement Accounts providing tax-advantaged savings options for retirement planning.
• Health Savings Account (HSA) Health Savings Account for individuals covered by high-deductible health plans, offered in partnership with HealthEquity.
• Trust Services Trust services for individuals covering estate planning and asset management.
• Wealth Management (via Ameriprise Financial) Financial planning, investment management, retirement planning, insurance, annuities, estate planning, and tax planning services offered through a partnership with Ameriprise Financial Services, which has over $1.4 trillion in assets under management, administration and advisement.
• Business Checking Accounts Business checking accounts designed for small and mid-sized businesses, with features such as Positive Pay check fraud detection, debit card management, ACH and wire origination, and bill pay.
• Business Savings Accounts Interest-bearing business savings accounts for companies seeking to manage business reserves and earn interest.
• Business Loans and Credit Cards Business lending and credit products, including business term loans, lines of credit, and business credit cards for small and mid-sized companies.
• Commercial Real Estate Lending Commercial real estate loans for property purchase, development, and refinancing of income-producing and owner-occupied properties, supporting small to mid-sized businesses in West Michigan.
• Municipal Banking Services Banking services for municipalities and other public-sector entities, including deposits, treasury management, and cash-handling support.
• Treasury Management Treasury management services for businesses, including cash management, wire transfers, ACH processing, user management, bill pay, and balance reporting.
• Merchant Card Processing Solutions Payment processing and merchant services for business customers, enabling acceptance of credit and debit card transactions at the point of sale.
• Conventional Mortgages Fixed-rate and adjustable-rate conventional home loans with terms from 10 to 30 years, down payments as low as 3%, and bridge loan options for home buyers and refinancers.
• First Time Homebuyer Programs Home Possible and Home One mortgage programs offering low down payments (as low as 3%) and credit flexibilities for first-time home buyers purchasing a single-family primary residence.
• USDA Rural Development Loans USDA Rural Development moderate-income guaranteed loans offering $0 down and up to 100% financing for eligible properties in designated rural areas, subject to income eligibility.
• Condo Financing Mortgage financing for condominiums, including non-warrantable condo options and a flexible condo review process to support condo purchases.
• Jumbo Mortgage Financing Jumbo mortgage financing for loan amounts above FHFA conforming limits, available for purchase, refinance, or construction on primary or secondary residences with as little as 10% down.
• Home Equity Loans and Lines of Credit Home equity loans and lines of credit enabling homeowners to borrow against the equity in their homes for various purposes.
• Mortgage Refinancing Mortgage refinancing products enabling existing homeowners to refinance their current mortgage for improved terms, rate, or cash-out purposes.
• Land Purchase, Construction, and Remodel Loans Land acquisition, new construction, and home remodel financing for homeowners and buyers building or renovating residential property.
• Investment Property Mortgage Loans Mortgage loans for borrowers purchasing residential investment properties, including second homes and rental property acquisitions.
• Portfolio Mortgage Financing Custom portfolio mortgage financing for borrowers in unique circumstances, handled on a case-by-case basis outside of standard conforming products.
• Auto and Recreational Vehicle Insurance Auto, boat, RV, and other recreational vehicle insurance products offered through affiliated United Insurance.
• Home and Property Insurance Homeowners, renters, and condo insurance coverage for property damage, theft, and liability, offered through United Insurance.
• Life Insurance Term life, whole life, and universal life insurance policies offered through United Insurance to provide lifetime or limited-time coverage with cash value or flexible premium options.
• Umbrella Insurance Personal umbrella liability insurance providing up to $5,000,000 in additional protection above underlying home, auto, and recreational vehicle policies, with multi-policy, bank-customer, and group discount options.
• Business Insurance Commercial insurance coverage for businesses, including liability, property, and specialized business coverages, distributed through United Insurance.

Quantifiable outcome

• Over $1 billion in assets, serving thousands of households and businesses in West Michigan
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature9 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Ameriprise FinancialcoreStrategic or Co-development PartnerUnited Bank has a revenue-sharing partnership with Ameriprise Financial Services to provide wealth management, financial planning, and investment services to clients. Ameriprise Financial has over $1.4 trillion in assets under management, administration and advisement. The partnership enables United Bank to offer comprehensive financial planning, retirement planning, investments, insurance, annuities, estate planning, and tax planning services through affiliated advisors Scott Kubiak and Anthony Williams.
• United InsurancecoreStrategic or Co-development PartnerUnited Insurance is an affiliated company providing insurance products including auto, home, property, life, umbrella, and business insurance. As an affiliate, United Insurance is part of the bank's integrated financial services offering, allowing cross-selling of insurance products to existing banking customers.
• Junior AchievementminorGTM or Marketing PartnerCommunity partnership supporting Junior Achievement programs that help give young people the knowledge and skills they need to succeed. United Bank volunteers hundreds of hours annually to financial literacy programs.
• American Bankers Association (ABA)minorGTM or Marketing PartnerPartnership through ABA programs including Teach Children to Save (helping elementary students learn value of money and savings habits) and Get Smart About Credit (helping students understand credit and use it responsibly).
• Children's Healing CenterminorOthersCommunity organization supported by United Bank as part of commitment to community economic wellbeing and improving quality of life.
• Hand2Hand MinistriesminorOthersCommunity organization supported by United Bank as part of community investment initiatives.
• Breakthrough T1D (formerly JDRF)minorOthersNonprofit organization supported by United Bank through community investment and support programs.
• Local Chambers of CommerceminorGTM or Marketing PartnerPartnership with local chambers of commerce to support economic development and business community in West Michigan.
• The Right PlaceminorOthersRegional economic development organization supported by United Bank to help improve community economic wellbeing.
• Rende Progress CapitalminorOthersCommunity organization supported by United Bank as part of community development and economic improvement initiatives.
• Construction Allies in ActionminorOthersCommunity organization supported by United Bank as part of community investment and local development efforts.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Lake Michigan Credit Union: Headquartered in Grand Rapids, MI, LMCU is the largest credit union in Michigan and a direct competitor in the West Michigan market across deposits, mortgages, and business banking. It competes for the same household and small business relationships as United Bank.
• Independent Bank Corporation: Michigan-based community bank holding company (Independent Bank) operating across Lower Michigan with a similar product mix of personal, business, and mortgage banking. Comparable asset size and community bank model make it one of the closest direct peers.
• Mercantile Bank Corporation: Grand Rapids-headquartered community bank (Mercantile Bank) with a similar mid-size Michigan footprint focused on commercial, CRE, and retail banking. Overlaps with United Bank in both geography and small business/CRE lending focus.
• ChoiceOne Financial: Sparta, Michigan-based community bank holding company serving West and Southeastern Michigan with personal, business, and mortgage banking. Similar community bank scale and West Michigan presence make it a closely comparable peer.
• First National Bank of Michigan: Kalamazoo, Michigan-based community bank with personal, business, and mortgage banking across West and Southwestern Michigan. Comparable mid-size community bank model competing in similar secondary Michigan markets.
• Northpointe Bank: Grand Rapids-headquartered community bank with personal and business banking across Michigan. Similar size and West Michigan concentration as United Bank, with a comparable mix of retail and small business services.
• Horizon Bank: Michigan-headquartered regional community bank (Horizon Bancorp) serving Indiana and Michigan with personal, business, mortgage, and wealth services. Overlaps with United Bank in West Michigan markets and product mix.

Broad incumbents

• Huntington Bancshares: Large regional bank holding company (Huntington) with deep Michigan roots and a broad commercial, retail, mortgage, and wealth platform. A much larger incumbent that competes for the same West Michigan consumer and small business relationships but with a significantly wider product set and branch network.
• Fifth Third Bank: Large regional bank with a substantial Michigan branch network across personal, business, mortgage, and wealth services. A scaled incumbent competing in the same West Michigan markets for deposits, mortgages, and small business lending.
• Old National Bank: Large regional bank (Old National Bancorp) with Michigan operations providing commercial, retail, mortgage, and wealth services. A broader incumbent that competes for West Michigan household and small business relationships with a much larger balance sheet.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/unitedbankofmichigan
• LinkedInlinkedin.com/company/532001
• Instagraminstagram.com/UnitedBank4U
• Xx.com/unitedbankmi

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Bank of Michigan