Regulators sell assets of Fidelity Bank to The Huntington National Bank
Fidelity Bank — which operated two branches in Washtenaw County — will reopen Saturday under The Huntington National Bank.
The FDIC announced the move Friday afternoon, after being appointed receiver of the Dearborn-based bank earlier that day.
Huntington, based in Columbus, Ohio, acquired all of the deposits and "essentially all of the assets," according to a news release.
As of December 31, 2011, Fidelity Bank reported $818.2 million in total assets and $747.6 million in total deposits.
Fidelity was owned by Dearborn Bancorp Inc., which also operated 13 other branches in Metro Detroit.
The Washtenaw County locations are on East Eisenhower in Ann Arbor and on Michigan Avenue in Saline.
The bank has been troubled for some time, according to reports.
It formerly operated a branch on West Stadium, which it closed in 2009.
Fidelity had about $57 million on deposit in Washtenaw County in 2011, giving it a number 16 ranking out of 19 banks operating in the county, based on market share data from the FDIC.
Regulators say customers of Fidelity Bank should continue to use their current branch location until they receive notice from The Huntington National Bank that it has completed systems changes to allow other Huntington branches to process their accounts as well, according to a news release.
Checks drawn on Fidelity Bank will continue to be processed. Loan customers should continue to make their payments as usual.