Michigan

Flagstar Bancorp Inc. in Troy, Mich., said its second-quarter loss expanded by 26% from a year earlier, to $97 million. The $13.7 billion-asset company's net interest income totaled $42.4 million, up 12% from the first quarter, but down 30% from a year earlier.

Citizens Republic Bancorp in Flint, Mich., reported a considerably slimmer second-quarter loss, compared to a year earlier, when it released its results late Thursday.

Profits grew faster than credit problems among the first batch of community banks to post second-quarter results — another tentative sign the sector is recovering.

North American Financial Holdings, a group formed by former Bank of America Vice Chairman Eugene Taylor, sealed deals to buy 3 failed banks in the Southeast late Friday.

Its keys to success have been an adherence to a strategy of courting customers disenchanted with their current bank, and the willingness to adapt to the changed banking landscape.

Capitol Bancorp Ltd. finds itself in a precarious situation — even though it has spent the past 14 months shedding banks to raise capital.

The $5.1 billion-asset company, which has dual headquarters in Lansing, Mich., and Phoenix, said the agreement is with the local shareholders of its $95 million-asset Bank of San Francisco, which it chartered in 2005.

Despite aggressive efforts to stay alive, Midwest Bank and Trust was closed late Friday by Illinois regulators. The failure of the Chicago-area bank came on a night when the FDIC ...

Capitol Bancorp Ltd., which is trying to harvest capital by selling its unit banks, reported that it was undercapitalized by at least one measure at the end of the first quarter.

Flagstar Bancorp Inc. of Troy, Mich., reported Wednesday that its first-quarter loss widened to $82 million from $67.4 million a year earlier. Yet the $14.4 billion-asset company still managed to raise $576.7 million of fresh capital, which analysts said will enable it to ride out persistent credit-quality issues.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

WASHINGTON — TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

The $5.1 billion-asset company, with dual headquarters in Lansing, Mich., and Phoenix, announced Friday that it had entered into stock redemption agreements with the local owners of Fort Collins Commerce Bank, Larimer Bank of Commerce and Loveland Bank of Commerce.

Add Independent Bank in Ionia, Mich., to the list of companies that have successfully renegotiated the Treasury Department's investment under Tarp.

Many smaller banks say they plan to keep offering such services because demand is strong and overdraft fee income is essential.

Flagstar Bancorp Inc. in Troy, Mich., has priced the $250 million common equity offering it announced earlier this month.

Monarch Community Bancorp Inc. of Coldwater, Mich., had a loss of $17.5 million in the fourth quarter, more than five times its loss a year earlier.

Dearborn Bancorp Inc. in Michigan has increased its loan-loss provision by 435% for the fourth quarter, leading to a loss of $5.8 million for the quarter rather than earnings of $4.2 million as previously reported.

With regulators pushing for larger provisions for loan losses at its two most troubled banks, Capitol Bancorp Ltd. has revised its 2009 results.

Capitol Bancorp Ltd. said Monday that it has a stock redemption agreement with USNY Bank to sell its 51% interest in the $64 million-asset bank.