Data / Bank failures / 2008 / Main Street Bank
Main Street Bank, Northville, MI: failed October 10, 2008
Main Street Bank in Northville, Michigan, failed on October 10, 2008. Monroe Bank & Trust of Monroe, MI, took over its deposits. It held $112.4 million in assets and $98.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $56.3 million (50.1% of its assets). By assets it was the 24th largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- October 10, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Monroe Bank & Trust, Monroe, MI
- Total assets
- $112,368,000
- Total deposits
- $98,934,000
- Estimated cost to the FDIC
- $56,317,793 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 57654
Other bank failures in Michigan, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Paramount Bank | Farmington Hills | December 10, 2010 | $252.7 million | $213.6 million | $68.6 million | Level One Bank |
| Mainstreet Savings Bank, FSB | Hastings | July 16, 2010 | $96.6 million | $63.3 million | $12.8 million | Commercial Bank |
| New Liberty Bank | Plymouth | May 14, 2010 | $111.2 million | $101.9 million | $23.6 million | Bank of Ann Arbor |
| CF Bancorp | Port Huron | April 30, 2010 | $1.60 billion | $1.42 billion | $340.6 million | First Michigan Bank |
| Lakeside Community Bank | Sterling Heights | April 16, 2010 | $49.2 million | $48.6 million | $21 million | |
| Citizens State Bank | New Baltimore | December 18, 2009 | $168.6 million | $157.1 million | $68.2 million | |
| Home Federal Savings Bank | Detroit | November 6, 2009 | $13 million | $12.7 million | $8.6 million | Liberty Bank and Trust Company |
| Warren Bank | Warren | October 2, 2009 | $504.8 million | $467.8 million | $217.5 million | The Huntington National Bank |
All bank failures in 2008 · All bank failures in Michigan · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.