PARAMOUNT BANK Failed 2010
What happened
PARAMOUNT BANK of FARMINGTON HILLS, MI was closed on 2010-12-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to LEVEL ONE BANK (FARMINGTON HILLS, MI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3883
- FDIC Certificate
- 34673
- FDIC FIN
- 10318
- Bank name
- PARAMOUNT BANK
- Location
- FARMINGTON HILLS, MI
- Failure date
- 2010-12-10
- FDIC resolution date
- 2010-12-10
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $69M
- Deposits at failure
- $214M
- Assets at failure
- $253M
- Acquiring bank
- LEVEL ONE BANK (FARMINGTON HILLS, MI)
Other banks LEVEL ONE BANK acquired in FDIC resolutions