Failures by State
Bank Failures in Michigan
37 FDIC-insured banks headquartered in Michigan have failed since 1935. The most recent was Fidelity Bank on March 30, 2012. The worst year was 2010, with 5 failures. Failed banks held $6.79B in assets at closing.
37
Failures
1935 to 2012
$6.79B
Failed assets
At closing
$1.27B
Estimated DIF loss
FDIC estimate
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Largest bank failures in Michigan
| Date | Bank | Assets |
|---|---|---|
| Apr 30, 2010 | CF Bancorp | $1.60B |
| Oct 16, 1991 | First FS & La | $917.0M |
| Mar 30, 2012 | Fidelity Bank | $818.2M |
| Oct 2, 2009 | Warren Bank | $504.8M |
| Apr 29, 2011 | Community Central Bank | $451.7M |
| Feb 11, 2011 | Peoples State Bank | $390.5M |
| Nov 26, 1985 | Usm (U.S. Mutual) S&LA | $306.1M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Jul 27, 1989 | New Guaranty FED. S & L Assoc. | $212.5M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
Michigan bank failures by year
| Year | Failures | Failed assets |
|---|---|---|
| 2012 | 1 | $818.2M |
| 2011 | 2 | $842.2M |
| 2010 | 5 | $2.11B |
| 2009 | 4 | $854.1M |
| 2008 | 1 | $112.4M |
| 2002 | 1 | $21.1M |
| 1998 | 1 | $42.0M |
| 1991 | 2 | $951.2M |
| 1989 | 2 | $319.9M |
| 1988 | 1 | $36.4M |
| 1985 | 1 | $306.1M |
| 1984 | 1 | $104.0M |
| 1982 | 1 | $19.9M |
| 1974 | 1 | $16.3M |
| 1971 | 1 | $109.7M |
| 1970 | 1 | $10.9M |
| 1969 | 1 | $2.3M |
| 1966 | 1 | $110.1M |
| 1964 | 1 | $1.3M |
| 1950 | 1 | $744K |
| 1941 | 1 | — |
| 1938 | 1 | $46K |
| 1937 | 1 | $95K |
| 1936 | 3 | — |
| 1935 | 1 | $79K |
Every bank failure in Michigan
Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.
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