Washtenaw County’s community banks pushed their market share up to 28.1 percent of the $6 billion in local deposits, according to a new federal report. The percentage continues a growth arc for the community banks, building from a total of 23.96 percent in 2009 and 22.07 percent in 2008.
General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business. The company also says it will begin repaying $6.7 ...
There may be some improvement in the availability of financing for real estate in 2010, but not much, according to panelists at a University of Michigan conference Wednesday. "Preparing for the New Reality" is the title of the event, a joint effort between U-M and the Urban Land Institute, and ...
A new report on local banking shows that the collective market share of locally run institutions climbed nearly two percentage points since 2008. Local banks now account for 23.96 percent of deposits in the Ann Arbor region, up from 22.07 percent at the same time in 2008.
One year after the bottom fell out from under the major Wall Street financial institutions, local community banking leaders are looking forward to grabbing a larger market share, while offering different perspectives on the actions the government took to prevent more large banks from failing in fall 2008. "All the ...
While financial optimists have been pointing out that the Dow Jones Industrial Average has returned to pre-9/11 attack levels, steep losses in the last year have dramatically eroded the nest eggs of many near retirement age. In fact, the Dow, hovering around 9,700 points this week, has lost nearly 15 ...
The closure of Colonial Bank in Alabama this month may seem far away, but it and similar bank failures are burdening the national deposit insurance system to the point that local banks' earnings are being significantly impacted by increased premiums. Given a recent report that the Federal Deposit Insurance Corp. ...
With the $8,000 federal tax credit for first-time home buyers set to expire Dec. 1, local banking officials are hoping for a steady stream of mortgage business before the tax break ends. Stephen Ranzini, president of University Bank, credited the tax credit with helping to clear $1 million in foreclosed ...
The Fidelity Bank branch at the intersection of West Stadium and Liberty will close, a bank official said, and operations will be consolidated to its Eisenhower Parkway location. Michael J. Ross, president and CEO of the bank's holding company, Dearborn Bancorp, said the branch will close in October. Fidelity has ...
The Detroit Free Press reports today that the Federal Deposit Insurance Corp. has taken enforcement actions against two banks in Michigan - including one in Ann Arbor. The FDIC ordered Michigan Commerce Bank in Ann Arbor and New Liberty Bank in Plymouth to take a number of steps to improve ...
The deteriorating quality of its loans - particularly related to the home building industry - contributed to a $762,000 second quarter operating loss for United Bancorp, the parent company of United Bank and Trust. However, according to filings released today, results for the first half of the year showed steeper ...
Angela J. Cesere | AnnArbor.com AnnArbor.com's partner news site MLive.com is on a quest to find the best barbecue in ......
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