MAIN STREET BANK Failed 2008

NORTHVILLE, MI · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MAIN STREET BANK of NORTHVILLE, MI was closed on 2008-10-10. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to MONROE BANK & TRUST (MONROE, MI). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3570
FDIC Certificate
57654
FDIC FIN
10016
Bank name
MAIN STREET BANK
Location
NORTHVILLE, MI
Failure date
2008-10-10
FDIC resolution date
2008-10-10
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$56M
Deposits at failure
$99M
Assets at failure
$112M
Acquiring bank
MONROE BANK & TRUST (MONROE, MI)