PEOPLES STATE BANK Failed 2011
What happened
PEOPLES STATE BANK of HAMTRAMCK, MI was closed on 2011-02-11. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST MICHIGAN BANK (TROY, MI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3906
- FDIC Certificate
- 14939
- FDIC FIN
- 10341
- Bank name
- PEOPLES STATE BANK
- Location
- HAMTRAMCK, MI
- Failure date
- 2011-02-11
- FDIC resolution date
- 2011-02-11
- 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.)
- $103M
- Deposits at failure
- $390M
- Assets at failure
- $391M
- Acquiring bank
- FIRST MICHIGAN BANK (TROY, MI)
Other banks FIRST MICHIGAN BANK acquired in FDIC resolutions