Bank failure · MI
Michigan Heritage Bank (Farmington Hills, MI) — failed April 24, 2009
Michigan Heritage Bank of Farmington Hills, Michigan was closed on April 24, 2009 and resolved through a purchase and assumption. Level One Bank (MI) took over its insured deposits. At failure it held $167.7M in assets and $149.1M in deposits. The FDIC's estimated loss on the failure is $48.6M (28.9% of assets).
- Closing date
- April 24, 2009
- FDIC certificate #
- 34369
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Level One Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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