Michigan

Mercantile Bank Corporation (MBWM) in Grand Rapids, Mich., has completed its exit from the Troubled Asset Relief program by repurchasing the $10.5 million of stock that was still held by the Treasury Department.

The Treasury Department announced Tuesday that it plans to sell off its shares in seven more community banks as part of its ongoing effort to wind down the Troubled Asset Relief Program.

Huntington Bancshares (HBAN) is pairing with a Michigan retailer to substantially expand its presence in the state over the next decade.

Citizens Republic Bancorp (CRBC) in Flint, Mich., reported its fourth-straight quarterly Thursday profit as loan quality continued to improve and a surge of new deposits helped generate fresh income from investment securities.

Bill.com said that Mercantile Bank (MBWM) of Grand Rapids, Mich., will be the first financial institution to use its platform to standardize its online business banking services.

Chemical Financial (CHFC) reported first-quarter income of $12.4 million, up almost 35% from a year earlier, as the Midland, Mich., company's earnings were boosted by the sale of its merchant processing business.

Mercantile Bank (MBWM) of Grand Rapids, Mich., has repurchased about $10.5 million of the preferred stock it issued to the Treasury Department as part of the Troubled Asset Relief Program.

Regulators closed Fidelity Bank in Dearborn, Mich., at a cost of about $93 million to the Deposit Insurance Fund.

A two-year-old consent order between the banking unit of Macatawa Bank Corp. and regulators has been terminated after the Holland, Mich., company raised additional capital and reversed a string of money-losing quarters.

Flagstar Bancorp Inc. reported $29.1 million more in losses for the fourth quarter and full year after agreeing to pay up to $133 million to settle claims regarding loans insured by the Federal Housing Administration.

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

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

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.

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 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 Ltd.'s credit costs are shrinking, but its capital hole is only getting deeper. The $2.5 billion-asset company, which has dual headquarters in Phoenix and Lansing, Mich., reported on Thursday a loss of $22.8 million for the third quarter, a 56% improvement from the loss it reported a year earlier.

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 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.