The Graveyard › Banks › 2009
Michigan Heritage Bank
Farmington Hills, MI · failed April 24, 2009 · FDIC certificate 34369
Michigan Heritage Bank of Farmington Hills, MI failed on April 24, 2009. It opened on March 10, 1997, 12 years before. At its last report before that it held $167.7 million in assets and $149.1 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 2008, it held $188.4 million. The FDIC estimates that the Deposit Insurance Fund lost $48.6 million on it.
1997-032009-03
Assets at the end$167.7 millionlast report before April 24, 2009
Deposits at the end$149.1 million
Estimated loss to the fund$48.6 millionDIF
Largest in the quarterly reports$188.4 millionMarch 31, 2008
Equity to assets3.5%March 31, 2009
Loans not being repaid12.8%noncurrent, March 31, 2009
Return on assets-0.74%a year's rate, March 31, 2009
Staff29full time, March 31, 2009
Also ended in 2009
- Bank of America N.A. · Charlotte · $1.47 trillion in assets · assisted
- FIA Card Services N.A. · Wilmington · $159.6 billion in assets · assisted
- Countrywide Bank, FSB · Alexandria · $118.0 billion in assets · assisted
- Merrill Lynch Bank USA · Salt Lake City · $61.8 billion in assets · assisted
- Merrill Lynch Bank & Trust Co., FSB · New York · $38.0 billion in assets · assisted
- Bank of America Rhode Island N.A. · Providence · $35.4 billion in assets · assisted
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.