Data / Bank failures / 2011 / Peoples State Bank
Peoples State Bank, Hamtramck, MI: failed February 11, 2011
Peoples State Bank in Hamtramck, Michigan, failed on February 11, 2011. First Michigan Bank of Troy, MI, took over its deposits. It held $390.5 million in assets and $389.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $103.1 million (26.4% of its assets). By assets it was the 21st largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- February 11, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Michigan Bank, Troy, MI
- Total assets
- $390,524,000
- Total deposits
- $389,868,000
- Estimated cost to the FDIC
- $103,057,004 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 14939
Other bank failures in Michigan, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Fidelity Bank | Dearborn | March 30, 2012 | $818.2 million | $747.6 million | $97.2 million | The Huntington National Bank |
| Community Central Bank | Mount Clemens | April 29, 2011 | $451.7 million | $371.5 million | $98.6 million | Talmer Bank and Trust |
| 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 First Michigan Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Banking Center | Burlington | WI | November 19, 2010 | $750.7 million | $664.8 million | $86.1 million | First Michigan Bank |
| CF Bancorp | Port Huron | MI | April 30, 2010 | $1.60 billion | $1.42 billion | $340.6 million | First Michigan Bank |
All bank failures in 2011 · All bank failures in Michigan · Every failed bank First Michigan Bank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.