The Graveyard › Banks › 2008
Main Street Bank
Northville, MI · failed October 10, 2008 · FDIC certificate 57654
Main Street Bank of Northville, MI failed on October 10, 2008. It opened on March 1, 2004, 4 years before. At its last report before that it held $112.4 million in assets and $98.9 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 2007, it held $158.1 million. The FDIC estimates that the Deposit Insurance Fund lost $56.3 million on it.
2004-032008-06
Assets at the end$112.4 millionlast report before October 10, 2008
Deposits at the end$98.9 million
Estimated loss to the fund$56.3 millionDIF
Largest in the quarterly reports$158.1 millionJune 30, 2007
Equity to assets2.5%June 30, 2008
Loans not being repaid9.3%noncurrent, June 30, 2008
Return on assets-10.29%a year's rate, June 30, 2008
Staff43full time, June 30, 2008
Also ended in 2008
- Citibank, National Association · Las Vegas · $1.21 trillion in assets · assisted
- Washington Mutual Bank · Henderson, NV · $307.0 billion in assets
- Citibank (South Dakota), N.A. · Sioux Falls · $77.7 billion in assets · assisted
- IndyMac Bank, F.S.B. · Pasadena, CA · $30.7 billion in assets
- Citicorp Trust Bank, fsb · Wilmington · $19.6 billion in assets · assisted
- Downey Savings and Loan Association, F.A. · Newport Beach, CA · $12.8 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.