First Bank, Upper Michiganbenefits

First Bank, Upper Michigan's benefits plans covered 164 active participants in 2025, providing health · life · dental · vision · short-term disability · long-term disability · other. Insurance premiums totaled $1,060,271. Insurance brokers and agents were paid $72,081 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 6.8% of premiums. That is $440 per covered person, in the top quarter of employer plans that report broker pay. Broker pay rose 86% from $38,793 in 2024.