Michigan

Old National Bancorp in Evansville, Ind., has agreed to acquire Founders Financial in Grand Rapids, Mich., for $88.2 million in cash and stock.

Flagstar Bancorp in Troy, Mich., reported quarterly earnings that significantly surpassed Wall Street's expectations.

Mercantile Bank in Grand Rapids, Mich., reported a significant decline in earnings that was largely tied to merger-related costs.

Mackinac Financial (MFNC) in Manistique, Mich., has agreed to buy Peninsula Financial in Ishpeming, Mich.

EAST LANSING, Mich. — Michigan State University FCU here is the dominant credit union in the local market, and one of the biggest financial services players in town, but one person says that its success comes from always acting like an underdog.

JACKSON, Mich. — Michigan Community Credit Union will be converting to Symitar's Episys core processing system soon.

JPMorgan Chase (JPM) has partnered with Liberty Bank in Detroit to offer financing to homebuyers interested in restoration of the city's run-down properties.

MBT Financial (MBTF) in Monroe, Mich., has been freed from a consent order under which it had been operating for the last four years.

TRAVERSE CITY, Mich. — Members Credit Union here and Bay Winds FCU plan to merge.

Chemical Financial (CHFC) in Midland, Mich., expects to raise $70 million through the sale of common stock.

LANSING, Mich. — A new program from the Michigan CU League and the Michigan Workforce Development Agency is trying to increase participation in vocational training throughout the Great Lakes State.

First Federal of Northern Michigan Bancorp's agreement to buy Alpena Banking is a lesson in persistence and keeping communication lines open.

SAGINAW, Mich. — A member of Team One CU found $7,000 in the CU's drive through earlier this week and decided to do the right thing.

Mercantile Bank (MBWM) in Grand Rapids, Mich., has finally completed its acquisition of Firstbank (FBMI) in Alma, Mich.

DETROIT — The National Federation of Community Development Credit Unions' annual conference here earlier this month had two things that aren't often found at credit union confabs: slot machines and a positive attitude toward big banks.

Waterford, Mich. — Oakland County Credit Union and BestSource Credit Union said they will merge effective Sept. 1 to create a credit union with almost $300 million in assets, 31,000 members and six branches.

ROYAL OAK, Mich. — Is NCUA's proposed rule regarding associational common bonds a reaction to banker arguments that some CUs make it too easy for consumers to join?

ROYAL OAK, Mich. — NCUA's proposal to amend the agency's chartering and field of membership rules could slow indirect lending at some credit unions, say industry insiders.

Huntington Bancshares (HBAN) keeps expanding in Michigan, agreeing to buy 13 more branches from Bank of America (BAC).

The long wait is finally over for Mercantile Bank (MBWM) in Grand Rapids, Mich., as it looks to acquire Firstbank (FBMI) in Alma, Mich.