Bank failure · MI
Paramount Bank (Farmington Hills, MI) — failed December 10, 2010
Paramount Bank of Farmington Hills, Michigan was closed on December 10, 2010 and resolved through a purchase and assumption. Level One Bank (MI) took over its insured deposits. At failure it held $252.7M in assets and $213.6M in deposits. The FDIC's estimated loss on the failure is $68.6M (27.1% of assets).
- Closing date
- December 10, 2010
- FDIC certificate #
- 34673
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Level One Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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