Bank failure · MI

Main Street Bank (Northville, MI) — failed October 10, 2008

Main Street Bank of Northville, Michigan was closed on October 10, 2008 and resolved through a purchase and assumption. Monroe Bank & Trust (MI) took over its insured deposits. At failure it held $112.4M in assets and $98.9M in deposits. The FDIC's estimated loss on the failure is $56.3M (50.1% of assets).