Michigan

Community Shores Bank Corp. in Muskegon, Mich., said Monday that it is voluntarily delisting from the Nasdaq. Community Shores said in a press release that it expected to file the delisting with the Securities and Exchange Commission on Dec. 16, when it also will cease trading its common stock on the Nasdaq.

The Federal Deposit Insurance Corp. has decided that four banks started by Capitol Bancorp Ltd. should not bear financial responsibility for the failure of a Florida bank.

Nasdaq is giving a number of struggling companies a little more breathing room, making it easier for stocks to stay on the exchange even after falling short of listing requirements.

In less than a year it has transformed itself from a tiny, $75 million-asset bank in Troy that focused on private banking to an almost $2 billion-asset regional player with branches in two states and its sights set on further expansion.

Macatawa Bank Corp. has hired an executive from Fifth Third Bancorp to become its chief credit officer.

Capitol Bancorp Ltd. plans to sell its majority stake in a North Carolina bank to a private-equity-backed group.

After announcing earlier this week that his W.L. Ross & Co. plans to invest $45 million into the struggling Cascade Bancorp in Bend, Ore., another bank in his portfolio picked up one of the three banks that failed Friday.

Capitol Bancorp Ltd. in Lansing, Mich., continues to shed assets as its losses narrow.

The Federal Reserve Board on Tuesday issued written agreements against three community banks and their parent companies.

All that's standing between Flagstar Bancorp Inc.'s past as a troubled mortgage lender and a potential future as a full-service community bank is $1.1 billion of problem loans.

Chemical Financial Corp. in Midland, Mich., on Monday reported that its third-quarter profit rose 255% from a year earlier, to $8.9 million, as credit costs declined and it began recognizing the benefits of a recent acquisition.

Add Capitol Bancorp Ltd. to the list of companies whose recapitalization efforts have been complicated by debtholders who are unwilling to budge.

With a new line of products, Flagstar Bancorp in Troy, Mich., is following through with a plan to increase its commercial business.

Monarch Community Bancorp Inc. of Coldwater, Mich., said that it entered into a written agreement with the Federal Reserve Bank of Chicago on Sept. 21.

Capital Bancorp Ltd. said Tuesday that it has completed the sale of its 51% stake in the Bank of San Francisco.

Dave Widlak, the president and chief executive of Community Central Bank Corp. in Mount Clemens, Mich., has been missing for days.

Recent lawsuits could stop community banks in at least two states from deliberately processing the largest transactions first — a method that triggers additional overdrafts and thus higher fees — after a California judge ruled against Wells Fargo & Co. last month.

Flagstar Bancorp Inc. of Troy, Mich., is reportedly hoping to raise $600 million in capital through its majority owner, MatlinPatterson Global Advisors.

Capitol Bancorp Ltd. has completed another divestiture — this time of its 51% stake in the $64 million-asset USNY Bank in Geneva, N.Y.

Capitol Bancorp Ltd. in Lansing, Mich., said it reduced its loss in the second quarter to $41 million, compared with a $47.9 million loss a year earlier.