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Bank failure · MI

Bank of the Commonwealth (Detroit, MI) — failed January 18, 1972

Bank of the Commonwealth of Detroit, Michigan was closed on January 18, 1972 and resolved through a a/a. 0 (0) took over its insured deposits. At failure it held $1.3B in assets and — in deposits.

Closing date
January 18, 1972
Resolution
A/A (assistance)
Acquiring institution
0
Insurance fund
FDIC

Other failures in 1972

What happens when a bank fails