Michigan

The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.

The Michigan company had been operating under the supervisory agreement since 2010.

The veteran banking attorney, who also worked at the FDIC and OCC, passed away Tuesday following a battle with cancer.

Seven credit unions have asked Michigan's banking regulator for permission to launch a trust company, a move that bankers says oversteps that industry's role of helping people of modest means.

The Kalamazoo, Mich.-based credit union is the latest to celebrate a major asset milestone.

Despite continued industry consolidation, the company still expects to have at least 10 chances each year to buy another bank.

Greater Christ Baptist Church Credit Union had assets of just $608,000, and saw mounting losses during each of the last three years.

Credit Union Trust is targeting a Q1 2019 opening, pending regulatory approval.

The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.

The bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland.