37 failures since 1934 · $1.3 billion estimated loss
Bank failures in Michigan
Michigan has 37 bank failures on FDIC record since 1934, 1.0% of the national total and the 28th-highest count of any state or territory. The worst year was 2010, with 5. Since 2000 there have been 14; the most recent was Fidelity Bank on March 30, 2012. The largest by assets was CF Bancorp of Port Huron, with $1.6 billion, in 2010.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| March 30, 2012 | Fidelity Bank | Dearborn, MI | $818 million | $97.2 million |
| April 29, 2011 | Community Central Bank | Mount Clemens, MI | $452 million | $98.6 million |
| February 11, 2011 | Peoples State Bank | Hamtramck, MI | $391 million | $103 million |
| December 10, 2010 | Paramount Bank | Farmington Hills, MI | $253 million | $68.6 million |
| July 16, 2010 | Mainstreet Savings Bank, FSB | Hastings, MI | $96.6 million | $12.8 million |
| May 14, 2010 | New Liberty Bank | Plymouth, MI | $111 million | $23.6 million |
| April 30, 2010 | CF Bancorp | Port Huron, MI | $1.6 billion | $341 million |
| April 16, 2010 | Lakeside Community Bank | Sterling Heights, MI | $49.2 million | $21.0 million |
| December 18, 2009 | Citizens State Bank | New Baltimore, MI | $169 million | $68.2 million |
| November 6, 2009 | Home Federal Savings Bank | Detroit, MI | $13.0 million | $8.6 million |
| October 2, 2009 | Warren Bank | Warren, MI | $505 million | $217 million |
| April 24, 2009 | Michigan Heritage Bank | Farmington Hills, MI | $168 million | $48.6 million |
| October 10, 2008 | Main Street Bank | Northville, MI | $112 million | $56.3 million |
| March 28, 2002 | New Century Bank | Shelby Township, MI | $21.1 million | $4.4 million |
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| April 9, 1998 | Omnibank | River Rouge, MI | $42.0 million | $2.9 million |
| October 16, 1991 | First Federal Savings Bank and Trust | Pontiac, MI | $917 million | $34.3 million |
| May 17, 1991 | Ludington Savings Bank, FSB | Ludington, MI | $34.2 million | $807 thousand |
| July 27, 1989 | Guaranty Federal Savings Bank | Taylor, MI | $213 million | $7.9 million |
| March 9, 1989 | Peoples Savings Association, FA | St. Joseph, MI | $107 million | $5 thousand |
| February 12, 1988 | The First State Bank, White Cloud, Michigan | White Cloud, MI | $36.4 million | $10.5 million |
| November 26, 1985 | U. S. Mutual Savings and Loan Association, FSA | Ann Arbor, MI | $306 million | $31.1 million |
| March 9, 1984 | National Bank and Trust Company of Traverse City | Traverse City, MI | $104 million | $12.2 million |
| May 15, 1982 | Community Bank of Washtenaw | Ypsilantai, MI | $19.9 million | $243 thousand |
| September 27, 1974 | Tri-City Bank | Warren, MI | $16.3 million | not estimated |
| February 16, 1971 | Birmingham Bloomfield Bank | Birmingham, MI | $110 million | not estimated |
| April 18, 1970 | The Peoples State Saving Bank | Auburn, MI | $10.9 million | not estimated |
| May 6, 1969 | The Morrice State Bank | Morrice, MI | $2.3 million | not estimated |
| October 12, 1966 | Public Bank | Detroit, MI | $110 million | not estimated |
| March 17, 1964 | The State Savings Bank of Minden City | Minden City, MI | $1.3 million | not estimated |
| April 3, 1950 | The Westphalia State Bank | Westphalia, MI | $744 thousand | not estimated |
| December 13, 1941 | The St. Charles State Bank | St. Charles, MI | not reported | not estimated |
| January 28, 1938 | The Trout Creek State Bank | Trout Creek, MI | $46 thousand | not estimated |
| June 17, 1937 | The State Bank of Marcellus | Marcellus, MI | $95 thousand | not estimated |
| February 15, 1936 | The First National Bank & Trust Co. | Ann Arbor, MI | not reported | not estimated |
| February 15, 1936 | The Ann Arbor Savings Bank | Ann Arbor, MI | not reported | not estimated |
| February 15, 1936 | Farmers & Mechanics Bank | Ann Arbor, MI | not reported | not estimated |
| November 26, 1935 | Lennon State Bank | Lennon, MI | $79 thousand | not estimated |