Data / Bank failures / 2009 / Michigan Heritage Bank
Michigan Heritage Bank, Farmington Hills, MI: failed April 24, 2009
Michigan Heritage Bank in Farmington Hills, Michigan, failed on April 24, 2009. Level One Bank of Farmington Hills, MI, took over its deposits. It held $167.7 million in assets and $149.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $48.6 million (28.9% of its assets). By assets it was the 100th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- April 24, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Level One Bank, Farmington Hills, MI
- Total assets
- $167,710,000
- Total deposits
- $149,065,000
- Estimated cost to the FDIC
- $48,551,264 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 34369
Other bank failures in Michigan, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Community Central Bank | Mount Clemens | April 29, 2011 | $451.7 million | $371.5 million | $98.6 million | Talmer Bank and Trust |
| Peoples State Bank | Hamtramck | February 11, 2011 | $390.5 million | $389.9 million | $103.1 million | First Michigan Bank |
| 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 |
Other failed banks Level One Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Paramount Bank | Farmington Hills | MI | December 10, 2010 | $252.7 million | $213.6 million | $68.6 million | Level One Bank |
All bank failures in 2009 · All bank failures in Michigan · Every failed bank Level One Bank took over · 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.