Bank failure · MI
Mainstreet Savings Bank, FSB (Hastings, MI) — failed July 16, 2010
Mainstreet Savings Bank, FSB of Hastings, Michigan was closed on July 16, 2010 and resolved through a purchase and assumption. Commercial Bank (MI) took over its insured deposits. At failure it held $96.6M in assets and $63.3M in deposits. The FDIC's estimated loss on the failure is $12.8M (13.2% of assets).
- Closing date
- July 16, 2010
- FDIC certificate #
- 28136
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Commercial Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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