Michigan

A Michigan state court judge has reportedly postponed a trial in which former customers of Lotus Bancorp in Novi, Mich., had filed a lawsuit against the bank's executives for sending racist emails.

Flagstar Bancorp (FBC) in Troy, Mich., reported a significant first-quarter loss as its loan-loss provision more than quintupled.

Chemical Financial Corp. (CHFC) in Midland, Mich., said Monday that its first-quarter net income rose 5% from a year earlier, to $13.8 million, thanks largely to a double-digit increase in loans and improved credit quality.

Independent Bank (IBCP) in Ionia, Mich., attributed a significant plunge in quarterly profits to a slump in mortgage refinancing activity.

J.P. Morgan has partnered with ProQuest, a cloud-based data management technology provider in Ann Arbor, Mich., to make J.P. Morgan's company and economic research data available to business students, academics and other researchers.

KENTWOOD, Mich. — An armed man dressed as a woman robbed Community West Credit Union last week and then led police on a high-speed chase that ended up with the suspect crashing his motorcycle.

WARREN, Mich. — Member Driven Technologies, a CUSO that supplies IT solutions to credit unions across the United States, said two CUs have signed to convert their core processing to Symitar Episys via the MDT solution.

Wintrust Financial (WTFC) in Rosemont, Ill., has agreed to buy 11 branches in Wisconsin from Talmer Bancorp (TLMR) in Troy, Mich.

MBT Financial (MBTF) in Monroe, Mich., has extended the expiration date for its rights offering.

The Michigan company has pledged $1 million to help people buy homes in the Marygrove College neighborhood. Homeowners can get up to $25,000 and have $5,000 shaved off the balance each year they live there.

PONTIAC, Mich. — Carma Peters has been named president and CEO of the $155 million Affinity Group Credit Union.

The company runs a quarterly competition where the public votes for their favorite charity. The winning nonprofit receives $5,000.

Bankers should view complaints on sites like Facebook and Twitter as an opportunity to publicly score points with customers.

Talmer Bancorp (TLMR) in Troy, Mich., could enjoy a bigger-than-expected benefit from its purchase of Michigan Commerce Bank.

The Michigan company is buying Nortwestern Bancorp, fleshing out a major part of its franchise map. Though Northwestern's loan portfolio has been steadily shrinking, Chemical executives expect to generate double-digit loan growth from the seller's markets.

Chemical Financial (CHFC) in Midland, Mich., has agreed to buy Northwest Bancorp in Traverse City, Mich.

ANN ARBOR, Mich. -- After starting negotiations last summer, the University of Michigan CU and Eastern Michigan University Credit Union have merged.

Mercantile Bank (MBWM) in Grand Rapids, Mich., and Firstbank (FBMI) in Alma, Mich., are extending the termination date for their delayed merger.

Talmer Bancorp in Troy, Mich., expects to raise $42.5 million in its initial public offering.

Chemical Financial (CHFC) in Midland, Mich., reported net income Monday of $14.4 million for the fourth quarter, 14.3% better than a year earlier.