Bank failure · MI

Community Bk of Washtenaw (Ypsilantai, MI) — failed May 15, 1982

Community Bk of Washtenaw of Ypsilantai, Michigan was closed on May 15, 1982 and resolved through a purchase and assumption. Michigan Nb Ann Arbor (MI) took over its insured deposits. At failure it held $19.9M in assets and $18.2M in deposits. The FDIC's estimated loss on the failure is $243K (1.2% of assets).