Bank Failure
Birmingham-Bloomfield Bank
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Closed February 16, 1971 · Birmingham, MI · FDIC Cert #18316.
- Closing date
- February 16, 1971
- Headquarters
- Birmingham, MI
- FDIC Certificate
- 18316
- Total assets at closing
- $109.7M
- Total deposits at closing
- $57.5M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On February 16, 1971, regulators closed Birmingham-Bloomfield Bank, headquartered in Birmingham, MI. At closing, the institution held approximately $109.7M in assets and $57.5M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 1139th largest of the 3,526 bank failures in the FDIC record, and the 1st of 6 in 1971. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Birmingham-Bloomfield Bank fail?
Birmingham-Bloomfield Bank was closed by regulators on February 16, 1971.
How big was Birmingham-Bloomfield Bank when it failed?
Birmingham-Bloomfield Bank had approximately $109.7M in total assets and $57.5M in deposits at the time of failure.
Other failures in 1971
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1971 | First Community State Bank of Savannah | $3.7M |
| Nov 30, 1971 | The First National Bank of Cripple Creek | $1.3M |
| Apr 5, 1971 | Bank of Salem | $679K |
| Feb 17, 1971 | Farmers State Bank of Carlock | $2.2M |
| Jan 25, 1971 | Sharpstown State Bank | $78.9M |
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