State Coverage: Michigan

Citizens Republic Makes Progress Reinventing Its Loan Book

American Banker | Jan 27

Citizens Republic Bancorp Inc.'s total loan portfolio shrunk $500 million last year, but it entered 2012 with big strides in commercial and industrial lending.

Chemical Financial in Michigan Benefits From Better Credit Quality

American Banker | Jan 26

Chemical Financial Corp. in Midland, Mich., reported that its fourth-quarter profit rose 49% from a year earlier, to $11.2 million, because a lower loan-loss provision.

University Bank in Mich. Acquires Majority Stake in Mortgage Lender

American Banker | Jan 05

University Bank in Ann Arbor, Mich., has acquired an additional 37.5% stake in a specialty finance firm in which it already half owned.

Talmer Bancorp in Michigan Completes Wisconsin Asset Acquisition

American Banker | Dec 19

Talmer Bancorp Inc. in Troy, Mich., said Monday that it had completed its acquisition of Lake Shore Wisconsin Corp. in Glenwood City.

FDIC Clears CU Bank Buy

American Banker | Dec 13

WASHINGTON – The FDIC said today it approved the acquisition of Griffith (Indiana) Savings Bank by United FCU of St. Joseph, Mich., the first bank to be acquired by a credit union.

Shareholder Proposal Seeks to "Declassify" Board at Troubled Capitol Bancorp

American Banker | Dec 12

Are disgruntled shareholders trying to seize control of the board Capitol Bancorp Ltd. or at least sack all the directors in one fell swoop?

Dearborn's Stock to Be Delisted

American Banker | Nov 23

Dearborn Bancorp Inc. in Michigan said Wednesday that the Nasdaq stock market had rejected its plan to cure a reporting deficiency and that its stock would be delisted on Tuesday.

Capitol Bancorp Says More Divestitures Possible

American Banker | Nov 11

Capitol Bancorp Ltd.'s credit costs are shrinking, but its capital hole is only getting deeper. The $2.5B-asset company reported on Thursday a loss of $22.8M for the third quarter, a 56% improvement from the loss it reported a year earlier.

Citizens Republic Surprises Analysts Again

American Banker | Oct 28

After three straight years of losses, Citizens Republic Bancorp Inc. in Flint, Mich., reported its second-straight profitable quarter for the three months that ended Sept. 30, thanks largely to improved asset quality and a double-digit increase in commercial and industrial loans.

Flagstar's Quarterly Loss is Smallest in Three Years

American Banker | Oct 26

Flagstar Bancorp Inc. in Troy, Mich., reported a net loss of $14.2 million for the third quarter, a 37% improvement over the same period last year and its smallest quarterly loss since the start of the financial crisis three years ago.

Lakeland, Chemical Report 30% Jump in 3Q Profits

American Banker | Oct 25

Aided by solid loan growth, Chemical Financial Corp. in Midland, Mich., and Lakeland Financial Corp. in Warsaw, Ind., reported sharp increases in profits for the quarter that ended Sept. 30.

FDIC Lifts 3-Year-Old Consent Agreement with Clarkston of Michigan

American Banker | Sep 06

The FDIC has terminated its consent order against Clarkston State Bank in Michigan after the bank recapitalized with investments from private citizens and current board members and made improvements in managing its loan portfolio.

With Shares Trading at Under $1, Flagstar Faces Delisting

American Banker | Aug 25

The New York Stock Exchange has warned Flagstar Bancorp that its stock is in danger of being delisted because it has traded at an average of less than $1 for 30 consecutive days.

Exam Could Force Dearborn of Michigan to Restate 2Q Financials

American Banker | Aug 19

Dearborn Bancorp in Michigan may need to restate its earnings for the quarter that ended June 30 pending the results of its latest examination by the FDIC.